U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 05-02-2018, 02:31 PM
 
24,885 posts, read 11,605,138 times
Reputation: 11620

Advertisements

Quote:
Originally Posted by mizzourah2006 View Post
Man that's awesome, because when I was working in retail in the late 90s in a union shop (nonetheless) I was making minimum wage ($5.15/hr) and I had to pay union dues each week as well, so technically I was making below minimum wage.
When I worked at a chicken processing plant we had a similar issue. Upper management brought in a TON of illegals (even got caught and fined a couple times). We had a union that was composed of people all terrified of being turned over to immigration, so they knew the deal-they voted for whatever the company wanted. We got horrible pay for work that injured a ton of people.

The ONLY thing the union got us was some concessions for safety....but even those often occurred after someone got horrifically injured. I still shudder at some of the injuries I saw.
Reply With Quote Quick reply to this message

 
Old 05-02-2018, 02:55 PM
 
2,360 posts, read 1,027,668 times
Reputation: 2071
Quote:
Originally Posted by rruff View Post
They can't expand in aggregate unless consumer buying power improves. The corporations getting more money doesn't improve that. Higher real wages are required. Or higher debt, but how far can that go? Simple math.

I could bet a house, that if every business in this country would give every employee a %10 raise Now, without increasing the COL, you will see spending. But we know that wont happen.. To me the goal is Keep COL lower then the average person salaries in the area, promotes buying power.
Reply With Quote Quick reply to this message
 
Old 05-02-2018, 03:41 PM
 
Location: Texas
10 posts, read 2,881 times
Reputation: 32
Wow! I thought this tax cut would lead to businesses investing in their workers! Isn't that what businesses and wealthy individuals do when you give them more money?
Reply With Quote Quick reply to this message
 
Old 05-02-2018, 08:17 PM
 
Location: Myrtle Creek, Oregon
11,047 posts, read 11,455,634 times
Reputation: 17205
Quote:
Originally Posted by jrkliny View Post
Money is not going back to the working population unless businesses expand. Some businesses are expanding. Others are going bankrupt or are cautious about expanding.
Apparently the new tax laws have made it more profitable to go bankrupt. There have been some high profile bankruptcies by profitable companies lately, like Remington and Gibson. People think companies go bankrupt because they are losing money. That is not true. They go bankrupt because they get raided, assume massive debt to enrich the vulture capitalists, then go bankrupt to shed the debt. It's up to the creditors to try to claw back the money, which may not be possible.
Reply With Quote Quick reply to this message
 
Old 05-02-2018, 08:42 PM
 
3,460 posts, read 1,980,913 times
Reputation: 7859
Quote:
Originally Posted by mizzourah2006 View Post
Man that's awesome, because when I was working in retail in the late 90s in a union shop (nonetheless) I was making minimum wage ($5.15/hr) and I had to pay union dues each week as well, so technically I was making below minimum wage.
I WAS a department supervisor, crew of 8-10.

It also was in a higher cost living area, during a labor shortage.

Those things may have had something to do with it.

I worked a second job as a cgef (glorified line cook) in a restaurant also, but that was so I could buy toys, go on vacations and save extra for retirement. All of which I actually did.

I could live on my retail supervisor pay, but would have much less for retire ment, taken fewer vacations ( went to Disney World and visited my grandmother in Florida every year) plus a few other vacations, and bought a component stereo system that didn't quit, had a component for everything, and surround sound speaker system before it was popular. Nrw vehicle every 4 years, etc. Like I said TOYS.

BUT I WORKED HARD at two jobs to have my fun and save some comparatively big bucks for retirement.

I also had a 401k, a profit sharing pension account and Company paid for health benefits, 13 paid holidays, 6 paid sick days, 3 personal days, 1 wek paid vacation during my first year, 2 weeks after year 1, 3 weeks paid vacay at 3 years and 4 weeks paid vacation at 5 years. Ah, those were the days.

What happened? The depression of 1990. I had to leave the area when we got cut down to 10 hours per week, had to copay for our health insurance and profit sharing was,stopped.

It's been stagnant wages and wage regression for me from then on.


Last edited by galaxyhi; 05-02-2018 at 08:57 PM..
Reply With Quote Quick reply to this message
 
Old 05-02-2018, 10:48 PM
 
18,252 posts, read 11,653,926 times
Reputation: 11865
File this under people who "hate to say I told you so....".


https://www.nytimes.com/2018/04/30/o...t-workers.html
Reply With Quote Quick reply to this message
 
Old 05-02-2018, 10:59 PM
 
Location: ATX/Houston
1,817 posts, read 468,588 times
Reputation: 437
The real issue was lowering corporate taxes AND taxes on the wealthy. The former was needed for global competitiveness but the latter was extremely foolish. If you to stimulate demand dredge some ports, update and expand flood controls along the coasts and the Mississippi River, build new waste water plants, upgrade our federal aviation systems, etc.
Reply With Quote Quick reply to this message
 
Old 05-03-2018, 04:43 AM
 
3,427 posts, read 3,243,081 times
Reputation: 8057
Quote:
Originally Posted by BugsyPal View Post
File this under people who "hate to say I told you so....".


https://www.nytimes.com/2018/04/30/o...t-workers.html
A hit piece by a far left party hack. I would file this under "garbage".

This same guy predicted a huge market crash if Trump won.

You can't believe everything you read, even in the NYT which recently has come to resemble some kind of tabloid rather than the great news organization it once was.

Folks, the proof's in the pudding. Record stock market, record low unemployment, historic return of manufacturing and repatriation of dollars, finally fixing the trade deals, massive business hiring and expansion plans, and rising wages.

The tax reform act was not a "giveback for the rich", though that slogan plays well with the ignorant. It's a stimulus to crank up our economy to a level not seen since the 1940s.

If conditions hold, we may be seeing growth rates in the 4 and 5 percent range in a year or two. Pretty amazing.
Reply With Quote Quick reply to this message
 
Old 05-03-2018, 07:28 AM
 
Location: Paranoid State
12,685 posts, read 9,425,981 times
Reputation: 14933
Quote:
Originally Posted by okcthunder1945 View Post
The real issue was lowering corporate taxes AND taxes on the wealthy. The former was needed for global competitiveness but the latter was extremely foolish. If you to stimulate demand dredge some ports, update and expand flood controls along the coasts and the Mississippi River, build new waste water plants, upgrade our federal aviation systems, etc.
I mostly agree, with a couple caveats.

1) We blew a once-in-a-generation chance to simplify the tax code.

2) For some affluent individuals in high state tax states, the tax reform results in higher total income tax obligations.

But your fundamental message is correct. We should have both lowered corporate income taxes and raised personal income tax rates so that the net receipts to treasury would go UP.
Reply With Quote Quick reply to this message
 
Old 05-03-2018, 07:30 AM
 
Location: Paranoid State
12,685 posts, read 9,425,981 times
Reputation: 14933
Quote:
Originally Posted by blisterpeanuts View Post
You can't believe everything you read, even in the NYT which recently has come to resemble some kind of tabloid rather than the great news organization it once was.
For at least the last 50 years, the NYT has been the nation's fish-wrap of record.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top