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I'm looking out the window from my office as I write this and I have a beautiful view of the Rocky Mountains and downtown Denver. It does look like the snow is rolling in off the mountains though, so I'm probably going to cut out early and try to beat the traffic home today.
I got my "head out of the books" years ago and started my own company. I did finish a BA, Masters, and JD first though. Now I run a very successful firm with lots of employees, all of whom are well paid and have great benefits. Our turnover is very low and the people that work here are happy.
You should try starting your own business someday because it might change your economic views just a tad. Nobody owes you a living. Nobody is responsible for your debt except for you. Borrow only what you can afford, but why should people like me who sacrificed immensely to become successful have to support your, or anyone else's, bad decisions. I really don't understand that way of thinking.
In the big picture I agree with you but we had to support the bad decisions on Wall Street the last 6 plus years. Well, we didn't have to but we did. Just curious.......were you as against that as this?
In which case China shuts off all imports into the U.S. causing a trade war which isn't in anyone's best interest. There are wonderful ideas and then there is reality.
With a trade deficit of 5% of GDP who's best interest is it in to shut off trade? There are a lot of people that would like their jobs back.
Thanks for the advice. I'll be sure to consider it very carefully, since you seem to believe that you understand my business and industry much better than I do.
I never claimed I knew who you were or what your business is. This thread is about business in general, not your specific business or business model. Your business succeeding or failing has no effect on me.
Depends on the business. If they can't raise prices however, than they either lay less productive workers off, or go out of business. Problem is, it's a global economy, now more than ever. You can't legislate prosperity.
Depends on the business. If they can't raise prices however, than they either lay less productive workers off, or go out of business. Problem is, it's a global economy, now more than ever. You can't legislate prosperity.
If a business is barely surviving paying their employees the current federal minimum wage, then that business is already failing. Employment shouldn't be that much of a chunk of your cost to do business.
What's your point? That this business deserves to be pushed over the edge? If a business is barely making it paying minimum wage now they are barely making it. That doesn't mean you force them under.
Depends on the business. If they can't raise prices however, than they either lay less productive workers off, or go out of business. Problem is, it's a global economy, now more than ever. You can't legislate prosperity.
And people elsewhere are willing to work for a lot less which means they can sell their products for less.
The problem with wanting a $15 minimum wage is that American's will still shop the cheapest supplier. They want BOTH a high minimum wage AND cheap products to buy when we can't have both. You'd think we would have learned that by now. How many things USED to be made here that no longer are? The reason they no longer are is they could be made cheaper somewhere else and American consumers shop price. They have no loyalty to made in the U.S.A.
And people elsewhere are willing to work for a lot less which means they can sell their products for less.
The problem with wanting a $15 minimum wage is that American's will still shop the cheapest supplier. They want BOTH a high minimum wage AND cheap products to buy when we can't have both. You'd think we would have learned that by now. How many things USED to be made here that no longer are? The reason they no longer are is they could be made cheaper somewhere else and American consumers shop price. They have no loyalty to made in the U.S.A.
A good starting point is to get the US minimum wage to apply to everything that will be sold here.
This isn't exactly how free markets work. It's true that people need money in their pockets to purchase goods and services, but it's not a linear connection. By your logic, if we raised everyone to $100/hr then we would sell so much more of everything that it would be inherently profitable. Why stop there, if you're right then we should pay everyone $1000/hr and really make our businesses successful.
Take an economics class.
Of course it's not linear; consumers with the lowest wages have the highest propensity to consume, so they are precisely the most likely to spend whatever raise they get.
A good starting point is to get the US minimum wage to apply to everything that will be sold here.
We don't have that right. What we can do is shop our conscience. If you believe in a $15 minimum wage, then refuse to buy from anyone who doesn't pay it. It's really that simple.
The problem is the American consumer shops price tags. They don't care where it was made or how much/little the workers who made were paid. They want the cheapest product they can get. Period. That doesn't mesh with a high minimum wage.
You can raise minimum wage but it will just mean we buy even more cheap stuff made abroad and fewer Americans will have work. Look how well raising our wages did in our manufacturing plants. Those plants have moved over seas. What is made here is made by robots. You can keep pushing but all that will happen is McDonalds will employ robotics to make your big mac.
A $15 minimum wage doesn't work in a world where people shop price tag alone.
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If a business is barely making it paying minimum wage now they are barely making it. That doesn't mean you force them under.
