Biden says he'll raise all the money needed by taxing anyone making over $400,000 a year.

[Oldestyle]

There will be no problem since he can promise that GDP growth will be 5% a year...

What ever happened to Trumpâs boast of 4%, 5% or even 6% growth?

Whatever happened to Trump’s boast that the U.S. economy would be able to grow not just at 3% but at “4%, 5% or even 6%” a year?

www.marketwatch.com

So how does Biden pay for it...

Reverse the Trump tax cut for rich and corporates... $1.5 trillion
Increase tax on Rich (> 400k per year)... $1 Trillion.

Borrow infrastruction expense and pay off over increased production (Capital expendeture)... $1.3 trillion

Education pays off in increased tax revenue. It also drives an economy...

The return to investment in education - OECD

Data and research on education including skills, literacy, research, elementary schools, childhood learning, vocational training and PISA, PIACC and TALIS surveys., Growing advantages for the better educated and likely continuing high levels of unemployment as economies move out of recession...

www.oecd.org

Housing plan will also drive economic activity in the construction market... Homeless are expensive cost on a city...

Combating opioid epidemic: Borrow the money, Cutting funding to poor will just make this worse...


This is all better than ploughing the money in to hole in the dessert. $2.4 billion.

Financial cost of the Iraq War - Wikipedia

en.wikipedia.org

.

You wrote: Increase tax on Rich (> 400k per year)... $1 Trillion How do you figure that? YOU have NOTHING to prove your statement. JUST a guess... I ON the other hand have a link... follow the link!

the government estimates that raising the tax rate on this small group will raise about $600 billion in new revenues over the next decade.

Who Actually Earns $400,000 Per Year?

The Poor are a larger group. Raise the minimum wage until the Poor pay enough in taxes.

Here is a simple example of what raising the minimum wage means IF YOU owned a restaurant.
Note the 2nd largest % of revenue (gross sales) is salaries and wages..@ 15.1%
So if the salaries/wages go up just 5%... there is no profit...therefore no business!
View attachment 379079

So? Increase the cost of the meals or do you think that people will stop eating at restaurants?

You are the owner of a restaurant. You have choice. Raise food prices or do this?
Make the decision because the chances of keeping 100% of your regular customers if you raise the prices 25% to cover the cost of minimum wage. Or this. Which would you prefer?
View attachment 379197

Let’s use McDonald’s as an example. The number of employees per shift is about 12 for 2 shifts that is 24. Let say all of them makes $12 increase to $13/hour.
One employee 8 hours will get from $96 to $104. that is $8. difference per day, for 24 that is $192. a day total increase.

You take hamburger, French fries, soda, bigmac,etc etc etc across the board increase to $0.20 each. How difficult is that to earn or to make up $192? Are you telling me customers will stop coming to McDonald’s with those increases?

On top of that a lots of these employees has been there for years so they make more than the MW.

That's a great example of your math skills, Charwin...the only problem is that the left isn't looking for a one dollar increase in the minimum wage...they're looking to almost double it. Crunch THOSE numbers!
By the way...the reaction from the fast food industry will be to cut staffing and go with kiosks and robots to try and keep labor costs from killing profits. That means fewer jobs for those that need entry level jobs the most! You can see this starting to happen already.

You purposely ignored that the increases was incremental not automatically from $10 to $15. How did you came up with doubled? I or anybody never mentioned from $10 to $20.

Federal Minimum wage is $7.25...the number that most of you on the left are demanding is $15.00 an hour...THAT is how I'm coming up with doubled! It's actually more than doubled if you want to be anal about it!

You don’t even own a business to talk about MW. The $7.25 working for any establishments is an insults to Americans. When was that $7.25 got a raise? What kind of workers are you going to get with $7.25?

1. Whether the MW would increase or not you and me likes it or not. The robots are coming.
2. Since when any business establishments went bankrupt or closed because of MW increases. Name me one.
3. if you have a business and worried about MW then you do not deserve to open a business.
4. Rental space of any establishments like restaurants goes up tremendously every time they renew the lease. Or buy new equipments. How and where do you think they get even? They increase the prices of what they sell.
5. How about companies that start with $15 or $16/hour at the lowest entry level? Like Costco.

Ah, entry level workers with no or limited job skills? Ones that have to be trained? Young people learning what it's like to have a job and be a responsible member of society? Here's the thing that people like you don't seem to grasp, Charwin! Most people who make minimum wage only do so for a short amount of time and then they move on to other positions in which they make more money because they've gained job skills. If you're someone who's working a minimum wage job for YEARS then you have issues!

Well you explain that to McDonald’s workers that’s been there for years. Long long time ago that was the case when teenagers especially during summer works there temporarily but that has changed.
Entry level like cashiers or groceries stockings at Costco makes $15 are mostly in the middle age.
In and out burgers makes $13 to start from there they can work it up to $160,000/ year as managers. We don’t see the MW is an issue. That’s the reality.

Explain your minimum wage theories to all the fast food workers that lost their jobs as companies like McDonalds and Walmart went to kiosks to take orders or check out instead of using humans! I'm sure they'll be impressed, Charwin! Especially now that they don't have ANY job!

 

[Oldestyle]

There will be no problem since he can promise that GDP growth will be 5% a year...

What ever happened to Trumpâs boast of 4%, 5% or even 6% growth?

Whatever happened to Trump’s boast that the U.S. economy would be able to grow not just at 3% but at “4%, 5% or even 6%” a year?

www.marketwatch.com

So how does Biden pay for it...

Reverse the Trump tax cut for rich and corporates... $1.5 trillion
Increase tax on Rich (> 400k per year)... $1 Trillion.

Borrow infrastruction expense and pay off over increased production (Capital expendeture)... $1.3 trillion

Education pays off in increased tax revenue. It also drives an economy...

The return to investment in education - OECD

Data and research on education including skills, literacy, research, elementary schools, childhood learning, vocational training and PISA, PIACC and TALIS surveys., Growing advantages for the better educated and likely continuing high levels of unemployment as economies move out of recession...

www.oecd.org

Housing plan will also drive economic activity in the construction market... Homeless are expensive cost on a city...

Combating opioid epidemic: Borrow the money, Cutting funding to poor will just make this worse...


This is all better than ploughing the money in to hole in the dessert. $2.4 billion.

Financial cost of the Iraq War - Wikipedia

en.wikipedia.org

.

You wrote: Increase tax on Rich (> 400k per year)... $1 Trillion How do you figure that? YOU have NOTHING to prove your statement. JUST a guess... I ON the other hand have a link... follow the link!

the government estimates that raising the tax rate on this small group will raise about $600 billion in new revenues over the next decade.

Who Actually Earns $400,000 Per Year?

The Poor are a larger group. Raise the minimum wage until the Poor pay enough in taxes.

Here is a simple example of what raising the minimum wage means IF YOU owned a restaurant.
Note the 2nd largest % of revenue (gross sales) is salaries and wages..@ 15.1%
So if the salaries/wages go up just 5%... there is no profit...therefore no business!
View attachment 379079

So? Increase the cost of the meals or do you think that people will stop eating at restaurants?

You are the owner of a restaurant. You have choice. Raise food prices or do this?
Make the decision because the chances of keeping 100% of your regular customers if you raise the prices 25% to cover the cost of minimum wage. Or this. Which would you prefer?
View attachment 379197

Let’s use McDonald’s as an example. The number of employees per shift is about 12 for 2 shifts that is 24. Let say all of them makes $12 increase to $13/hour.
One employee 8 hours will get from $96 to $104. that is $8. difference per day, for 24 that is $192. a day total increase.

You take hamburger, French fries, soda, bigmac,etc etc etc across the board increase to $0.20 each. How difficult is that to earn or to make up $192? Are you telling me customers will stop coming to McDonald’s with those increases?

On top of that a lots of these employees has been there for years so they make more than the MW.

That's a great example of your math skills, Charwin...the only problem is that the left isn't looking for a one dollar increase in the minimum wage...they're looking to almost double it. Crunch THOSE numbers!
By the way...the reaction from the fast food industry will be to cut staffing and go with kiosks and robots to try and keep labor costs from killing profits. That means fewer jobs for those that need entry level jobs the most! You can see this starting to happen already.

The minimum wage would be around eighteen dollars an hour if it had kept up with inflation.

But what is NOT mentioned by the biased MSM in support of a diminishing number i.e. people that work at minimum or less than minimum wage.
FACTS... Look below...% of people paid hourly was in 2010 (Under Obama...) 8% or over 4.361 million to 2018 (under Trump)..2.1% 1.71 million!
So you want to destroy wages for 81 million for just 1.71 million who work at minimum wage or less?


View attachment 380891

They also don't want to talk about all the other people who are going to get raises if we double the MW to 15/hour overnight. Approximately 60% of the American work force earns $20/hour or less. What do you think someone who spent years learning and honing a craft until he was earning almost 3 times the MW will do when all of a sudden he's earning just a few dollars more than a kid who walks in off the street with no skills whatsoever? No, you're not just going to have to pay 50 cents more for a Big Mac, you're going to have to pay a lot more for everything, because those workers will be demanding big raises or quitting.

Salaries and wages have been stagnant since the 1980s. Good let's have increases everywhere.

YOU ARE NOT only ignorant but a F...king LIAR!
FACTS so simple to get!
Here dummy! Use the f...king internet before you open your dumb ass mouth!

Infographic: Average Hourly Earnings Climb to Unprecedented High

This chart shows average hourly wages for production and nonsupervisory employees in the U.S. in current and in constant May 2019 dollars.

www.statista.com

Does a line moving UP mean it is STAGNANT? Geez... Use your head!
AND because of YOUR ignorance you want less than 1.7 million people half of which are under age 24 to cause the other 80 million to want their pay increased because this unskilled first time job holders to get $15.00/hour?
First of all 80 million getting a 50% increase over say $10.00/hr currently would mean employers would be putting out nearly $1 Trillion a year!
What will happen dummy? Whatever benefit these shrinking 1.7 million half under age 24 would make would quickly diminish as prices would skyrocket!
View attachment 381283

What in the world are you talking about Dude?
Prices goes up all the time with or without the MW increase. You are using Statista to measure your ignorance but in reality that is not what is happening. Stastita is only the assumptions and estimates but if you look at he really it’s way way off.
I gave McDonald’s as an example how they can recover the difference. I don’t own a McDonald’s franchise but I know at least 2 owners that has 3 franchises. It doesn’t work that way Dude.


As an example when Seattle (June 2014) was the first locations that raised MW to $15...... OMG OMG OMFG people like you who are anti MW increase Seattle businesses are going to shut down. They are gone.


Six years later 2020. Name me a company or any establishments or any restaurants like McDonald’s went bankrupt because MW...... Name me one.

Seattle's Minimum Wage Hike Cost Thousands Of Lost Jobs & Millions Of Labor Hours | National Economics Editorial

The $13 an Hour Minimum Wage Experiment in Seattle Led to Massive Job Loss A new study done by the National Bureau of Economic Research shows that the minimum wage hike in Seattle (up to . . .

nationaleconomicseditorial.com

It's not the companies going bankrupt that are the problem...it's low wage workers losing jobs or hours because of Seattle's minimum wage hike!