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It is a common mindset among the rich that any salary at all amounts to charity. Apparently you've swallowed that particular flavor of Kool-aide.
And yes, they should increase salaries to pay a living wage. Valdemart makes more money than the entire GNP of many countries. In profit. If they won't pay their workers a fair share of that - and a fair share HAS to be a living, not subsistence, wage - then the government should step in and force them to do the right thing.
Which is to pay their employees fairly so that they don't have to apply for food stamps while working full time for a multi-billion dollar corporation.
I add to that, they should pay their foreign workers and insist that their suppliers pay their workers US minimum wage as well.
If that happens , at some point they will bankrupt and EVERY SINGLE ONE OF THEIR EMPLOYEES WILL LOSE THEIR JOB.
With all due respect, you folks don't understand economics. Get educated.
Bull fertilizer.
No what will happen is they will pass along the higher costs to us the end user and we will pay it. If they started doing that then I'd shop at walyworld. I don't shop there because of their labor practices.
All emotional with no BUDGET showing how it's going to be paid for. Please tell me how as a Restaurant Owner can I pay someone $46,000 a year to drop fries with the TOTAL PRODUCTION off that person dropping fries is probably $25,000 a year to the business?
They can't but if they were to up prices a bit they could cover it. Wage price inflation anyone?
Well, I have a degree in Accounting, I know what Marginal Tax Rates are lol. Just because the top rate is 88% does not mean anybody paid that amount due to (as I said already) deductions, exemptions, credits, and other tax strategies. Nobody was paying that rate back then.
But at that tax rate you couldn't put your money in a money market account that paid 10% return a year and just let it ride. You needed tax shelters, and a good long term investment was to pay someone an above market wage. They didn't see it and it took unions to get it, but they got a good return on that money spent as it grew the whole economy not just their piece of it.
Quote:
Originally Posted by jotucker99
If you were Pro Middle Class, you wouldn't be Anti-Rich because the Middle Class WORKS for the Rich, and the POOR works for the Middle Class (for the most part).
I already explained why the Middle Class is having issues, it's a shifting Economic structure from an Industrial Age (which CREATED the Middle Class) to a Specialized Skill Economy.
https://www.stlouisfed.org/legacy_as...nimum-wage.png from the article it was percent average hr manufacturing wage. Historically it was way up from where it is now. The middle is doing badly because the bottom is getting left behind.
Quote:
Originally Posted by jotucker99
There aren't enough STEM Jobs? STEM Jobs are Global my friend, they are out there but many STEM Employers can't find enough trained and qualified workers.
The minimum wage law needs to be global as well. Those jobs over their need to pay a lot closer to what they do here and the middle wouldn't be hurting as bad.
The minimum wage law needs to be global as well. Those jobs over their need to pay a lot closer to what they do here and the middle wouldn't be hurting as bad.
Short of legislated protectionism, I don't see this happening. (This would be a great way to force business to on-shore that which they off-shored). America already has enough trouble competing with the American South.
Short of legislated protectionism, I don't see this happening. (This would be a great way to force business to on-shore that which they off-shored). America already has enough trouble competing with the American South.
Protectionism that benefits all. Just tax dividends and capital gains, from corporations that use foreign labor at less than US minimum wage, at 110% and see how long it takes them to repatriate and/or up the wages for foreign workers.
- Can you name me one Rich Person in the US today that said that paying someone a salary equals charity? Just post the link if you have it (even though I know you don't).
- What's a living wage? I heard people say to increase the minimum wage from about $7.25 to $11 and that would be a living wage, well, how so? With a 40 hour work week that's still just over $21,000 a year how can ANYONE live off of that with kids? If you want to truly SOCIALIZE wages to provide a "living coverage" for the worker, you would have to make sure the wage covers how many children they have. So if they have one child the average is about $13,000 a year in costs, so if they have two that's $26,000. When you add in their own cost of living at let's say $20,000 then the living wage would need to equal $46,000 a year. That's $46,000 for a fry dropper at McDonalds. YOU SEE how Socialists and Far Left Liberals make no sense with their arguments? If you want a wage you can "live on" then INCREASE your damn skills!
- Nobody working for a Multi-Billion Dollar Corporation makes minimum wage. Fast Food spots are franchises man, those are individual business owners and that location might be doing anywhere from $300,000 - $1 million a year in gross sales.
What's up with these emotional arguments the far left makes?
"Well, everybody should have health coverage....*whine* *whine*"
"Well, everybody should have a college degree....*whine* *whine*"
"Well, everybody should have $50,000 a year in salary....*whine* *whine*"
"Well, everybody should have a cell phone....*whine* *whine*"
All emotional with no BUDGET showing how it's going to be paid for. Please tell me how as a Restaurant Owner can I pay someone $46,000 a year to drop fries with the TOTAL PRODUCTION off that person dropping fries is probably $25,000 a year to the business?
It's typical leftist drivel. Get something for nothing and punish producers while they are at it. Most of the people I work w on the left if given a million dollars would lose it within five years . I guarantee it.
What matters is the performance of the business. If the business does well, the employees share in the rewards. Increases based on performance of the business, because that's what matters.
You're saying a janitor's contribution to success of the business is less than an engineer's? Give me a break. If your company has a crappy janitor, what happens? The bathrooms are always filthy, the place isn't clean: employee moral goes down, clients and customers who visit the office come away with a bad impression. Business partners don;t want to visit your headquarters anymore. You lose customers because they don't respect how you are maintaining your own offices. You think these things don't make a bad impact on the business? They do, of course. I argue that their impact is just as great as an engineer making mistakes in his design.
Give me a break. I said they'd be the knowledge of the employees, not public knowledge. If you want to debate with me, get your facts straight.
Yes, of course the engineer is worth more in the marketplace than a janitor. Just plain dumb to think otherwise. That's not to say the janitor isn't a splendid person or that janitors aren't needed.
If that happens , at some point they will bankrupt and EVERY SINGLE ONE OF THEIR EMPLOYEES WILL LOSE THEIR JOB.
With all due respect, you folks don't understand economics. Get educated.
Yeah, that's no respect at all, apparently, LOL! And you have no point.
Salaries in retail, manufacturing, and construction and mining range from 18% to 22% of total operating costs. Retail, in particular, is on the low end of that range at 18%.
Increasing minimum wage from 7.25 an hour to $10.10 is about a 40% increase (and falls short of what is needed).
So you're telling me that an increase of 7.2% in overall operating costs is going to bankrupt the multi-billion-dollar behemoth, Valdemart?
If so, let it be! If a company can't pay a fair wage, it shouldn't be operating.
If they can't make a profit unless they enslave people, should that be allowed in the name of their bottom line??? OF COURSE NOT.
Pay your workers fairly, or go out of business. Valdemart is not "too big to fail". All that its demise would mean is that a lot of smaller retailers, and maybe even some mom & pop stores, would rush in to fill the vacuum - and spread the wealth around a lot more equitably.
Some good posts here. Everyone screams that protectionism doesn't work, but all countries protect their market through tariffs and taxes. Those who throw open their markets only do so because they have little to trade anyway and their government officials enrich themselves by partnering with foreign business.
Any company that offshores production should be treated as a foreign company and taxed at a punitive rate.
If they cannot or will not compete in the market under those conditions someone else will see that as an opportunity to step in and fill the gap. That is the beauty of our capitalist economy. Tell me again how and why American products made from American raw materials on American soil in American facilities by American labor and sold to American consumers can be bad for the American economy?
Especially when it is accompanied by a wage structure that keeps Americans independent of American welfare distributed by the American government funded by American taxpayers?
Why should Wal mart be allowed to flood our market with Chinese manufactured products which replace American jobs, and pay their American employees so little that they need American welfare? Does China fund our food stamp program?
Wake up!
Oh, but, it's OK, because you have yours. Until your job goes to China. Or India. Or Mexico. Or because nobody can afford your product or service anymore, so now you get to eat cat food in front of the TV when you're old.
Wake up.
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