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A consumer gets an extra $5,000 a year from a CEO/owner/whomever that makes 7 figures.
Was that boss really going to spend that $5000 like the consumer would? Or would he invest, pay miniscule taxes, and contribute nothing to the economy (which is heavily consumer based)?
That CEO will still make their 7 figures.
Now what about that McDonald's franchise owner that makes $50K ?
Yup..he will see his salary go down because he's now mandated to pay his workers more, still pay the mother ship and make all that due within the revenue his store generates.
Your "greedy CEOs" will not be affected one penny by a steep rise in min wage.
Now what about that McDonald's franchise owner that makes $50K ?
Yup..he will see his salary go down because he's now mandated to pay his workers more, still pay the mother ship and make all that due within the revenue his store generates.
Your "greedy CEOs" will not be affected one penny by a steep rise in min wage.
Actually they will probably benefit, as would the McDonald's owner. Deeper pockets for the Joneses means more dinners at Mickey D's.
Workers are capitalizing with their vote to raise wages.
Employers do the exact same, with money, only with the intention of stomping out improvements like raising the minimum wage.
It's both, or neither.
Mandated increase in min wage is not economic growth.
Productivity increase is the driving force behind economic growth.
Now if you just want to take that money from companies and give it to people to spend to manipulate the GDP figure and claim "the US is growing" then so be it.
No growth is the redistribution of product thru economy. trading one valued product for another based on demand .When you have wealth sharing its a partial investment with no return. Only return is those who produce and get the that share. Just as government is the middleman who actually produce nothing additional but takes a cut. The end user produces nothing. That is why its called welfare;wealth sharing;dole;uneraned income and not earned income from producing.Greece tried thinking of it has growth thru production and ended with little other than government middlemen.
Actually they will probably benefit, as would the McDonald's owner. Deeper pockets for the Joneses means more dinners at Mickey D's.
Your franchise owner does not make 7 figures. He is the one that pays out of his store's profits.
The corporation will get their percentage regardless of the store's wage increase.
The increase will be felt at the local level.
Apparently to Republicans, people earning more doesn't count as growth. I wonder if they turn down raises from their own jobs because they are against redistribution.
I'm just going by the textbook definition of economic growth.
A redistribution of money from one hand to the other is NOT growth.
People normally get raises because revenue increases.
Same with "profit sharing" bonuses.
There's no mention of company revenue in this bill.
What if revenue of a store can't absorb the mandated increase ?
What if there's another dip recession and revenue goes down ?
I'm sure you'd heard of furloughs in white collar jobs where they are mandated to take time off without pay.
I hope the increase goes through and I hope Sawant gets her way.
Then we'll see how it fares.
Other cities are interested in what happens as well.
I hope it catches on like wild fire.
I'll be the first in line to go get a job at McDonalds.
I get $80 to do substitute teaching for 1 day and could make $120 instead for "Do you want fries with that?"
I'm just going by the textbook definition of economic growth.
A redistribution of money from one hand to another is NOT growth.
People normally get raises because revenue increases.
Same with "profit sharing" bonuses.
There's no mention of company revenue in this bill.
What if revenue of a store can't absorb the mandated increase ?
What if there's another dip recession and revenue goes down ?
I'm sure you'd heard of furloughs in white collar jobs where they are mandated to take time off without pay.
Weird, typically raises are given for work performance each year. I have never had a boss tell me profits went up so we are all getting raises. Also, how many times has businesses seen profits go up and no wage increase is given to the employees?
Yes, I remember employees being furloughed during the recession. It was that or lay off their employees, and it worked better for the employees to lose some pay than to lose their jobs.
Now what about that McDonald's franchise owner that makes $50K ?
Yup..he will see his salary go down because he's now mandated to pay his workers more, still pay the mother ship and make all that due within the revenue his store generates.
Your "greedy CEOs" will not be affected one penny by a steep rise in min wage.
That depends on how many McDonalds the franchise owner owns.
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