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??? Greed is pretty good at stopping employers from paying more.
I've seen this mostly among managers who are compensated in part on the basis of the profit they generate. e.g. I had a fast food manager who was paid a base salary plus a percentage of store profit. His obsession with amassing enough cash to purchase a franchise led him to cut corners wherever possible. To cut labor costs, he sent other drivers home at 9pm weekdays and kept me as his only driver. This necessariily led to a service decline (longer delivery times). His gamble was that he could get his cash and franchise before the number crunchers caught up with him, and he lost and was fired.
co-chair of Forward Seattle, told NRO.
If the ordinance isn’t repealed, business owners will have to respond, they say, and some already have.
Tugadi no longer hires musicians for her restaurant. With the wage increase still looming, she said she can’t justify expenses that don’t directly “add to the bottom line.” She’s also removed labor-intensive menu items and adjusted prices in preparation for the hike. And, she says, hours will have to be cut: At the end of the summer, El Norte Lounge will stop serving lunch and will only serve dinner.
Some companies may simply leave the city. Well-known pizzeria Pagliacci Pizza, a Seattle-area pizza chain, is already moving its call center and some of its production facilities outside the city, Cough said. “That’s a lot of jobs,” she notes.Some companies may simply leave the city. Well-known pizzeria Pagliacci Pizza, a Seattle-area pizza chain, is already moving its call center and some of its production facilities outside the city, Cough said. “That’s a lot of jobs,” she notes.
A well-known (locally) celebrity chef named Tom Douglas owns a string of restaurants here. He says that he already pays his people $15/hr, but that if he had had to do that when starting out, he never would have made it. This is the essence of what minimum wage laws do--limit the opportunity to start on a shoe string and grow from there.
??? Greed is pretty good at stopping employers from paying more.
I've seen this mostly among managers who are compensated in part on the basis of the profit they generate. e.g. I had a fast food manager who was paid a base salary plus a percentage of store profit. His obsession with amassing enough cash to purchase a franchise led him to cut corners wherever possible. To cut labor costs, he sent other drivers home at 9pm weekdays and kept me as his only driver. This necessariily led to a service decline (longer delivery times). His gamble was that he could get his cash and franchise before the number crunchers caught up with him, and he lost and was fired.
No, it won't. The market is not some mystical beast of lore that has the answers to all of society's problems. Sometimes "the market" needs a kick in the pants to get it moving.
Only the brainwashed think that economic impetus is from government programs.
Holy cow, someone el se who mistakes agenda driven opinion for an economics class. Yes, it is sad we have come to this.
LoL. If you dont believe that many aagenda driven opinions are being taught in college economic classes thn you are either naive, not very smart or biased.
I had a 4 hour discussion with an economics teacher this week. He is a liberal and he detailed what he teaches them. It is filled with left wing opinion that he is pumping into these kids heads.
I shredded many of his philosophies and he admitted that I opened his eyes to some things he had made assumptions about.
I came away from this meeting even more concerned about what our kids are being taught.
So, dont be fooled. At least a magazine like Forbes has their "opinions" out front and center for the world to see and critique.
These leftist profs have no such filter or check and balance. They answer virtually to no one what they are polluting our kids minds with.
??? Greed is pretty good at stopping employers from paying more.
I've seen this mostly among managers who are compensated in part on the basis of the profit they generate. e.g. I had a fast food manager who was paid a base salary plus a percentage of store profit. His obsession with amassing enough cash to purchase a franchise led him to cut corners wherever possible. To cut labor costs, he sent other drivers home at 9pm weekdays and kept me as his only driver. This necessariily led to a service decline (longer delivery times). His gamble was that he could get his cash and franchise before the number crunchers caught up with him, and he lost and was fired.
So greed and giving employees less hours got him fired for incompetence. Not paying you less money.
I still didnt see where you made your point about paying a lower wage was caused by greed.
Your manager obviously didnt set wages. The owner did. And they firrd your example of greed.
a successful business will have a set profit margin, My company is 7%. If that profit margin not met, either raise the prices or lower cost. so that either raise the price of hamburgers or lower the cost of labor, but profit margin wont change.
now if they making 15 % profit and their goal is 7% then there some wiggle room, but most company profit margin is close to what they make, so to stay competetive
Idiots, nice way to describe your fellow citizens!
Sorry, I call it like I see it, and Americans are increasingly stupid.
Quote:
Never crossed your mind that they are referring to increased spending by the
people receiving the wage?
I know this may be a bit complex for you, but what they are refering too is that people making minimum wage tend to spend additional income. You know, things like going to a dentist, or maybe car maintenance, things they could not do before. Maybe eat out on rare occasion.
Uh, yeah, that did occur to me. What else could they be talking about? See though, here's the problem, everything is going to cost MORE! So In other words, yeah, you're going to have a situation where people are earning more money and have more money in their pockets to spend, but in order to get that money, employers are going to have to charge more for goods and services. So in the end, the people earning minimum wage are earning more, but they'll have to pay more for things, so it will all even out and they'll be no better off then they were before the increase. Also, those increased prices will be passed down to consumers earning slightly more than minimum wage who WON'T get a raise, meaning they to will have to pay more for products, and so their money won't go as far either!
Again, the lack of intelligence displayed on this subject by some people is just unfathomable. If you find yourself needing a more elementary explanation, please don't hesitate to ask....
Quote:
Originally Posted by nvxplorer
Yep, this is something a little girl with a lemonade stand would comprehend, but apparently it's beyond the grasp of right-wingers. They obviously have no clue why it's called supply side economics.
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