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He could run a successful business paying those shit wages, if other businesses around him also paid those bad wages (preventing workers from leaving). But he would be screwing up the sales/incomes of all the other businesses around him, (and his own). This is what the title of this thread means about >>You have no real life business experience, and your so-called ideas are all conservative talking points. Get back to me after you've run a successful business paying shit wages.
Minimum Wage Increase: They Never Talks About the SALES
Just now, I saw another report about the topic of minimum wage increase. This one was on CNN, hosted by Julie Banderas. She was talking to Scott Gamm, of HelpSaveMyDollars.com, a financial website focused on helping consumers save and learn about money. They were talking about the recent 14-1 vote by the city of Los Angeles to raise the minimum wage to $15 by 2020.
Scott might be well versed on various aspects pertaining to consumer finances but, on the minimum wage raise, he is waaay off the mark. He said three things about the minimum wage raise topic. And he was WRONG on all three. Gamm merely recited the 3 most commonly heard (and programmed) descriptions about minimum wage raises.
1. He said it would cause jobs to be lost. FALSE! Employers function with a number of employees that bring them the most income/profit. They CANNOT reduce staff. Any more or less employees results in SALES and income reduction. Layoffs result in losses, not gains.
2. He (and Banderas too) said prices would be raised (or fees created) to compensate for the wage losses, and these losses would just be "passed on" to the customers. More FALSE! scare talk. Businesses CANNOT raise prices because they are already fixed at a market price, related to maximization of sales/income. Any change in price (up or down) results in reduction of SALES and income.
3. He said businesses will move away from LA. FALSE! (in most cases). Does Gamm think that closing down a business and moving to another location can be done scott (no pun intended) free ? Depending on the business, moving costs can vary from just barely economical, to completely UNeconomical, and the latter is much more often the case. Imagine a machine shop with over 100 large production machines, having to pack then all up and move miles away. Some businesses could do it. Not many.
So here's the real crux of all this. As in 1000 other media reports I've seen on minimum wage increases, the most important aspect of this is NEVER MENTIONED. Not a word. That is the increase in DISPOSABLE INCOME resulting in INCREASES SALES$$$. All businesses get this, and generally it far outweighs labor increases, since the number of wage raised consumers (not just those at the minimum wage) by far outnumbers any one employer's workers who are getting wage increases.
Then there's also the fact that many business, while receiving this big SALES boost, do NOT have any wage loss at all. These are businesses who are mom & pop and have no employees, those whose workers are all working just on sales commission (car lots, furniture, real estate, insurance, etc), and third, those with skilled workers (ex. machine shops) whose workers all already get well over $15 hour, or whatever the MW would be raised to.
I think back to when I owned a business. I paid my commission salespeople $350/hour (in 2015 dollars), and they still were only receiving 15% of the sale. In all, I made fine profits and expanded the business. Biggest downer ? All the people who called in and said > "Sorry. I can't afford it." Of course they can't. Not one somebody out there is paying them a low minimum wage. To be successful in business, you have a lot fo things to do. But you can't do anything, if the public around you doesn't have money in their pockets to buy what you're trying to sell.
This is why Conservatives who support raising the MW nationwide, outnumber Conservatives who don't, 54% to 44%.
^^^ Flunked Economics 1A ^^^
It's the core flaw in their argument.
They don't have ANY argument, period.
He could run a successful business paying those shit wages, if other businesses around him also paid those bad wages (preventing workers from leaving). But he would be screwing up the sales/incomes of all the other businesses around him, (and his own). This is what the title of this thread means about >>You have no real life business experience, and your so-called ideas are all conservative talking points. Get back to me after you've run a successful business paying shit wages.
Minimum Wage Increase: They Never Talks About the SALES
the truth about capitalism is that it forces you to pay the highest wages possible or lose your best employees to those who pay the highest wage possible.
The beauty of Republican capitalism is that it forces you to provide the best products and jobs possible in order to survive.
Just now, I saw another report about the topic of minimum wage increase. This one was on CNN, hosted by Julie Banderas. She was talking to Scott Gamm, of HelpSaveMyDollars.com, a financial website focused on helping consumers save and learn about money. They were talking about the recent 14-1 vote by the city of Los Angeles to raise the minimum wage to $15 by 2020.
Scott might be well versed on various aspects pertaining to consumer finances but, on the minimum wage raise, he is waaay off the mark. He said three things about the minimum wage raise topic. And he was WRONG on all three. Gamm merely recited the 3 most commonly heard (and programmed) descriptions about minimum wage raises.
1. He said it would cause jobs to be lost. FALSE! Employers function with a number of employees that bring them the most income/profit. They CANNOT reduce staff. Any more or less employees results in SALES and income reduction. Layoffs result in losses, not gains.
2. He (and Banderas too) said prices would be raised (or fees created) to compensate for the wage losses, and these losses would just be "passed on" to the customers. More FALSE! scare talk. Businesses CANNOT raise prices because they are already fixed at a market price, related to maximization of sales/income. Any change in price (up or down) results in reduction of SALES and income.
3. He said businesses will move away from LA. FALSE! (in most cases). Does Gamm think that closing down a business and moving to another location can be done scott (no pun intended) free ? Depending on the business, moving costs can vary from just barely economical, to completely UNeconomical, and the latter is much more often the case. Imagine a machine shop with over 100 large production machines, having to pack then all up and move miles away. Some businesses could do it. Not many.
So here's the real crux of all this. As in 1000 other media reports I've seen on minimum wage increases, the most important aspect of this is NEVER MENTIONED. Not a word. That is the increase in DISPOSABLE INCOME resulting in INCREASES SALES$$$. All businesses get this, and generally it far outweighs labor increases, since the number of wage raised consumers (not just those at the minimum wage) by far outnumbers any one employer's workers who are getting wage increases.
Then there's also the fact that many business, while receiving this big SALES boost, do NOT have any wage loss at all. These are businesses who are mom & pop and have no employees, those whose workers are all working just on sales commission (car lots, furniture, real estate, insurance, etc), and third, those with skilled workers (ex. machine shops) whose workers all already get well over $15 hour, or whatever the MW would be raised to.
I think back to when I owned a business. I paid my commission salespeople $350/hour (in 2015 dollars), and they still were only receiving 15% of the sale. In all, I made fine profits and expanded the business. Biggest downer ? All the people who called in and said > "Sorry. I can't afford it." Of course they can't. Not one somebody out there is paying them a low minimum wage. To be successful in business, you have a lot fo things to do. But you can't do anything, if the public around you doesn't have money in their pockets to buy what you're trying to sell.
This is why Conservatives who support raising the MW nationwide, outnumber Conservatives who don't, 54% to 44%.
^^^ Flunked Economics 1A ^^^
They just don't get how it works....they just magically give more money to people and it has no effect down the line.....no job loss, no increased prices, no hours cut back.......so if that is the way it works...why didn't businesses just give their employees 50 dollars an hour....imagine how much more their employees could buy with 50 dollars an hour instead of 15...imagine the SALES........why stop at 50....why not 100...imagine the SALES......these businesses would be rich beyond the dreams of avarice......with all that new money coming in......lord help us......
Just now, I saw another report about the topic of minimum wage increase. This one was on CNN, hosted by Julie Banderas. She was talking to Scott Gamm, of HelpSaveMyDollars.com, a financial website focused on helping consumers save and learn about money. They were talking about the recent 14-1 vote by the city of Los Angeles to raise the minimum wage to $15 by 2020.
Scott might be well versed on various aspects pertaining to consumer finances but, on the minimum wage raise, he is waaay off the mark. He said three things about the minimum wage raise topic. And he was WRONG on all three. Gamm merely recited the 3 most commonly heard (and programmed) descriptions about minimum wage raises.
1. He said it would cause jobs to be lost. FALSE! Employers function with a number of employees that bring them the most income/profit. They CANNOT reduce staff. Any more or less employees results in SALES and income reduction. Layoffs result in losses, not gains.
2. He (and Banderas too) said prices would be raised (or fees created) to compensate for the wage losses, and these losses would just be "passed on" to the customers. More FALSE! scare talk. Businesses CANNOT raise prices because they are already fixed at a market price, related to maximization of sales/income. Any change in price (up or down) results in reduction of SALES and income.
3. He said businesses will move away from LA. FALSE! (in most cases). Does Gamm think that closing down a business and moving to another location can be done scott (no pun intended) free ? Depending on the business, moving costs can vary from just barely economical, to completely UNeconomical, and the latter is much more often the case. Imagine a machine shop with over 100 large production machines, having to pack then all up and move miles away. Some businesses could do it. Not many.
So here's the real crux of all this. As in 1000 other media reports I've seen on minimum wage increases, the most important aspect of this is NEVER MENTIONED. Not a word. That is the increase in DISPOSABLE INCOME resulting in INCREASES SALES$$$. All businesses get this, and generally it far outweighs labor increases, since the number of wage raised consumers (not just those at the minimum wage) by far outnumbers any one employer's workers who are getting wage increases.
Then there's also the fact that many business, while receiving this big SALES boost, do NOT have any wage loss at all. These are businesses who are mom & pop and have no employees, those whose workers are all working just on sales commission (car lots, furniture, real estate, insurance, etc), and third, those with skilled workers (ex. machine shops) whose workers all already get well over $15 hour, or whatever the MW would be raised to.
I think back to when I owned a business. I paid my commission salespeople $350/hour (in 2015 dollars), and they still were only receiving 15% of the sale. In all, I made fine profits and expanded the business. Biggest downer ? All the people who called in and said > "Sorry. I can't afford it." Of course they can't. Not one somebody out there is paying them a low minimum wage. To be successful in business, you have a lot fo things to do. But you can't do anything, if the public around you doesn't have money in their pockets to buy what you're trying to sell.
This is why Conservatives who support raising the MW nationwide, outnumber Conservatives who don't, 54% to 44%.
^^^ Flunked Economics 1A ^^^
They just don't get how it works....they just magically give more money to people and it has no effect down the line.....no job loss, no increased prices, no hours cut back.......so if that is the way it works...why didn't businesses just give their employees 50 dollars an hour....imagine how much more their employees could buy with 50 dollars an hour instead of 15...imagine the SALES........why stop at 50....why not 100...imagine the SALES......these businesses would be rich beyond the dreams of avarice......with all that new money coming in......lord help us......
It's the core flaw in their argument.
They don't have ANY argument, period.
dear if you protect your industries you have to make everything yourself and you die in poverty as a result.
Do you understand??
The primary cause of bankruptcies is dum dum business owners who think all they need is lots of money to succeed in business, and nothing more. What they really need is a good microeconomics course, like the one I used to teach in colleges of the City University of New York. The overwhelming majority of business failure is from mismanagement. And the 2 top reasons for those are 1. raising prices above the market price (which they cannot do) and 2. laying off employees to a number less than their maximization of income level.(note: generally businesses recapture much more than their increased labor costs )
totally stupid and liberal!!! if generally true would we not have 10,000 bankruptcies a month!! Republican capitalism is competitive!!
It's the core flaw in their argument.
They don't have ANY argument, period.
dear if you protect your industries you have to make everything yourself and you die in poverty as a result.
Do you understand??
They don't understand...they think that if you simply increase salaries the employees will have more money to spend...never explaining where the money comes from in the first place....they are so fucking clueless....
He could run a successful business paying those shit wages, if other businesses around him also paid those bad wages (preventing workers from leaving). But he would be screwing up the sales/incomes of all the other businesses around him, (and his own). This is what the title of this thread means about >>You have no real life business experience, and your so-called ideas are all conservative talking points. Get back to me after you've run a successful business paying shit wages.
Minimum Wage Increase: They Never Talks About the SALES
the truth about capitalism is that it forces you to pay the highest wages possible or lose your best employees to those who pay the highest wage possible.
The beauty of Republican capitalism is that it forces you to provide the best products and jobs possible in order to survive.
The beauty of Capitalism...you get rich the more you help people....you have to make people happy in order to make money...that is why Apple, and Toyota make so much money...they make their customers happy......see all the happy people at the DMV or the Post Office.......yeah.....no so much....
What about where it comes from in the first place ?They don't understand...they think that if you simply increase salaries the employees will have more money to spend...never explaining where the money comes from in the first place....they are so fucking clueless....
What about where it comes from in the first place ?They don't understand...they think that if you simply increase salaries the employees will have more money to spend...never explaining where the money comes from in the first place....they are so fucking clueless....
Raising the Minimum Wage is not about customers or liberalism.exactly, anyone who has been in business knows you spend all your time trying to please your customers! Its like love. Under liberalism you could care less about the customers.
The primary cause of bankruptcies is dum dum business owners
From the business owner, where do you think ?Where does the money come from to pay the increase in salary....?
Raising the Minimum Wage is not about customers or liberalism.exactly, anyone who has been in business knows you spend all your time trying to please your customers! Its like love. Under liberalism you could care less about the customers.
From the business owner, where do you think ?Where does the money come from to pay the increase in salary....?
Hiding behind long, drawn-out links, that you know nobody wants to bother reading, isn't going to win any debates. If you have something to say, say it. Without presenting a small book.
