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.
My reading comprehension is just fine. She still speaks the truth.
Minumum wage is a joke and should be repealed. People should prove what they are worth no be told that they are worth minumum wage. What about those that are worth more than that and bring extra value to the business owner, should they also he held at minumum wage? No one is worth anything untill they have proven themselves.
Saying that someone can only be worth one amount or another is counter productive to wealth creation. Business is where the jobs come from why stifle that when an individual is on to something of value and tell them that they can be no wealthier?
Too bad you don't live in Australia - that kind of attitude would win you all sorts of friends - not...lol.
One thing I've never quite understood - why is it the business that gets to decide the "worth" of a person's labor? It's far more logical for the worker to decide his or her own value of labor, and the use of labor unions and/or the power of democracy to "enforce" the self-determined value of labor is just the same as the corporation using its size and power to dominate the marketplace. Seems like a fair way to do things, if you ask me...
Too bad you don't live in Australia - that kind of attitude would win you all sorts of friends - not...lol.
One thing I've never quite understood - why is it the business that gets to decide the "worth" of a person's labor? It's far more logical for the worker to decide his or her own value of labor, and the use of labor unions and/or the power of democracy to "enforce" the self-determined value of labor is just the same as the corporation using its size and power to dominate the marketplace. Seems like a fair way to do things, if you ask me...
So stop being lazy, start a business and implement these strategies. Then have fun leaking money like a siv.
Too bad you don't live in Australia - that kind of attitude would win you all sorts of friends - not...lol.
One thing I've never quite understood - why is it the business that gets to decide the "worth" of a person's labor? It's far more logical for the worker to decide his or her own value of labor, and the use of labor unions and/or the power of democracy to "enforce" the self-determined value of labor is just the same as the corporation using its size and power to dominate the marketplace. Seems like a fair way to do things, if you ask me...
That's interesting. She wants to import workers who would have to live in Australia. So it looks like she wants the Australians to share the land with them. Yet she certainly would not allow anyone near her mines.
This it why it used to be called political economy. She wants to import workers so that the "market" sets the price. Yet these workers do not have the same stake in the country. They did not serve in the military , nor did they pay taxes to build or contribute the society it is today. So of course they will under sell the "market price" for labor. It will not make anything better of course. It will just turn into more rent. Why not break up the mining monopoly and let the market set that price? No of course not.
Economic rule : When one side is a competitive market and the other is monopolistic, it has no effect on consumer prices. It becomes supernumerary profit for the monopolist. Only when the consumer can choose...
Too bad you don't live in Australia - that kind of attitude would win you all sorts of friends - not...lol.
One thing I've never quite understood - why is it the business that gets to decide the "worth" of a person's labor? It's far more logical for the worker to decide his or her own value of labor, and the use of labor unions and/or the power of democracy to "enforce" the self-determined value of labor is just the same as the corporation using its size and power to dominate the marketplace. Seems like a fair way to do things, if you ask me...
The worker can decide his or her value. When I worked for a Locksmith shop we needed to bring in 3X our income before we were making a profit. Below that amount we are losing the shop money. When an employee has shown that they can make more than 3X their pay they then can be up for an increase in income. Untill that time happens they are a cost to the business and not worth anything. I was talking to one of our vendors a few weeks ago. They had hired a few extra employees and found that over a few years that it was easier to scale back and let those guys go. The employees were costing them too much money. remember that when you hire someone you have to pay a lot more than just a pay check. Not counting any benefits it can cost an employer maybe 50% more to have an employee on the books than just the paycheck.
Real value comes from an employee that is making a profit for the company. That kind of profit is hard to overlook during company reviews. Take the Losksmith shop example. An owner knows that an employee can go and strike out on their own. They become the competition. An owner wants to protect what they have so would offer more to the employee that is bringing in more. Sure it doesn't always happen. I know of one guy that was making a lot of money for my former boss. He wanted a bigger cut but wasn't offered that. He ended up building his own company and now after 16 years has an even larger company than the one we worked for.
Unions do nothing to show the value of an employee. They bargain as a group. The problem is that individuals all are at a differant pace. Many employees will bust tale and get the job done, but many won't. When you are in the middle of a bargaining unit you don't have to show what you can do. You don't have to be of value at all. I know plenty of union employees that have the attitude that "that is not in my job description." They don't want to put that extra value in what they do. A union shows that a company made $X dollars and wants $Y amount to go to their members. Give us the profit so that we can share in the work of the few while the many sat around and did the minumum to get by. Remember that the value of the employee to the enterprise is how much profit that employee can generate for the enterprise.
Why doesn't this start with an answer from most everyone with no? Very few want to be even rich let alone super rich. It's fine to say it, but most don't care for what it takes. Most are happy with comfortable and want no more. The super rich are set to want it and got the breaks along the way to get it. Why have such a deep argument about her and how she got her money anyways? She is right to say to be anywhere near rich as her you have to work tons of hours and have a laser focus on a few things that matter to get to riches. Most fail though.
She may be a beached whale but she's right. Her net worth was under $50MM when she inherited the business and became CEO (about 20 years ago). Today her networth is around $30B. That's an incredible 40% per annum. I'd bet 99% of people out there, and 99.9% of you jealous people on CD, could not have achieved the same. Ignorant people think it's so easy to make money once you have money, but then why don't you have money in the first place? Most people are horrible with money and investing. Look at all the "experts" who took out $100k Helocs at the peak then invested it... and lost their house LOL. That should tell you about the competence of the typical smarty pants out there.
I want to be very rich. Most people that I know want to be very rich. Ever play the lottery? Personally I don't play it because it is a fools game. Still people play because they want to get rich without working for it. I seem to only know 2 kinds of people. Those that are building wealth and those that are trying to win wealth. My wife and I will be debt free in 12 years or less. Our plan is to build a portfolio with a $6 million value (not counting the home) by the time we retire. I don't see that as wealthy though, just what we need to make it into retirement.
Josh u,
I only knew people that were borrowing on their homes to support a fantasy lifestyle. I remember one year taking the kids to school for the first day of school in our Chevy Astro Van and seeing all these new Hummers, BMW's, and mercedes Benz that people were driving. I had no idea at the time where the money was coming from. Everyone back in 2006 seemed so rich and I was the poor one. Imagine financing a $60,000 car with a loan from your home that will take you 10 to 20 years to pay off just because you want to keep up with the others that were doing the same thing. By the time the HELOC is paid off the car will be long gone.
Funny how things have changed. Many of those people either walked away from their homes or may still be in the process of doing that. I know of another family that paid $180,000 for a home 12 years ago and when it went up to $500,000 they borrowed to remodel the home, put in a pool and bought a couple new cars. They are still there but have realized how dumb that was.
I want to be very rich. Most people that I know want to be very rich. Ever play the lottery? Personally I don't play it because it is a fools game. Still people play because they want to get rich without working for it. I seem to only know 2 kinds of people. Those that are building wealth and those that are trying to win wealth. My wife and I will be debt free in 12 years or less. Our plan is to build a portfolio with a $6 million value (not counting the home) by the time we retire. I don't see that as wealthy though, just what we need to make it into retirement.
Josh u,
I only knew people that were borrowing on their homes to support a fantasy lifestyle. I remember one year taking the kids to school for the first day of school in our Chevy Astro Van and seeing all these new Hummers, BMW's, and mercedes Benz that people were driving. I had no idea at the time where the money was coming from. Everyone back in 2006 seemed so rich and I was the poor one. Imagine financing a $60,000 car with a loan from your home that will take you 10 to 20 years to pay off just because you want to keep up with the others that were doing the same thing. By the time the HELOC is paid off the car will be long gone.
Funny how things have changed. Many of those people either walked away from their homes or may still be in the process of doing that. I know of another family that paid $180,000 for a home 12 years ago and when it went up to $500,000 they borrowed to remodel the home, put in a pool and bought a couple new cars. They are still there but have realized how dumb that was.
$6 million is not super rich not even close. You have a good plan which indeed is way ahead of almost all others but the people above you will still be doing things completely different than you and probably be working more than you. But you are making a conscious decission which works for you and will make you happy when you reach it. That should be the point of this whole controversy but the media would rather focus on the more direct message because it upsets some portion of society.
But her visit has been overshadowed by disputes over tiny islets and craggy outcrops in oil- and gas-rich areas of the South and East China Seas that have set China against U.S. regional allies such as the Philippines and Japan.
Only poor people think wealth comes through labor. With certain kinds of political economy it certainly would be much more so. However once a society creates property laws, enter marginal utility and natural resources.
Why do so many keep pretending its all just hard work? I would not even begrudge some wind falls but why this isn't the tax base instead of income taxes? As a side benefit its the only tax that isn't a dead weight.
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.
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.
