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Old 11-11-2013, 11:05 AM
 
Location: West Orange, NJ
12,546 posts, read 21,366,438 times
Reputation: 3730

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Quote:
Originally Posted by CaptainNJ View Post
the s&p was down 37% in 2008, so how did those people manage to lose all of their money when it bottomed out?

some people sold at the bottom which was a bad idea but i understand. i just want to know how you figure some people lost all of their money in the stock market.

or were you just exaggerating so that it would work better for your point? isnt that being deceptive?
and since everyone is invested in just the S&P index funds, you're point is 100% relevant.
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Old 11-11-2013, 11:14 AM
 
Location: NJ/NY
18,431 posts, read 15,184,095 times
Reputation: 14296
Quote:
Originally Posted by bradykp View Post
i'm not seeing your point, exactly. i work in statistical probabilities, so i certainly understand sample sizes and populations....are you criticizing that I only brought up McDonald's? or that I only compared Costco to Wal-Mart (my wife worked at wal-mart for 9 years and got 10% off, and we still shopped at Costco over Wal-Mart).
No. Just that in economics raising operating costs translates into higher prices. Company "X" or "Y" might have a philosophies that defy that, but overall, that is the way it works for the majority of businesses.
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Old 11-11-2013, 11:16 AM
 
Location: West Orange, NJ
12,546 posts, read 21,366,438 times
Reputation: 3730
Quote:
Originally Posted by AnesthesiaMD View Post
I agree, but the problem is that the mortgage deduction was already sold "as is", to tens of millions of people. The damage is already done and it is difficult to undo without a lot of pain involved. You would have to lower the tax rate enough to offset the loss, which I don't know if there is a political will to do that. Even then, I could see people STILL downsizing and pocketing the tax savings. I know that I have continually worked my mortgage to allow for the maximum deduction allowable. Right now, that's the cheapest money that I am going to get. Without it, I would probably sell it and buy something smaller with cash and no mortgage and benefit from the lower tax rate as well.
there's some truth to what you're saying, but it's really not as insane as you would think. the standard deduction for a married couple is $12,000. so, for your mortgage interest deduction to be worth much to you, you have to have deductions well beyond $12,000 each year. it's a deduction that really benefits wealthier individuals, generally speaking.

with a simple phasing out, it could be eliminated without dramatically impacting home prices.
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Old 11-11-2013, 11:17 AM
 
Location: West Orange, NJ
12,546 posts, read 21,366,438 times
Reputation: 3730
Quote:
Originally Posted by AnesthesiaMD View Post
No. Just that in economics raising operating costs translates into higher prices. Company "X" or "Y" might have a philosophies that defy that, but overall, that is the way it works for the majority of businesses.
actually, supply and demand dictates prices, in economics. this is a huge fallacy of the argument in opposing minimum wage. i'm not saying it has zero impact on prices, but the impact is not as direct as you're implying.
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Old 11-11-2013, 11:21 AM
 
1,140 posts, read 2,070,011 times
Reputation: 1672
Just another example of the liberal's obsession with control - why should the government (federal or state) be able to dictate salaries paid by private companies?

A company should be able to offer whatever salaries they want. Better, more skilled employees will go to the companies offering the best salaries. The companies with the best salaries will be rewarded with the best employees.

Forcing a minimum wage, like so many liberal policies, stifles incentive and discourages competition.
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Old 11-11-2013, 11:22 AM
 
Location: NJ/NY
18,431 posts, read 15,184,095 times
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Quote:
Originally Posted by bradykp View Post
actually, supply and demand dictates prices, in economics. this is a huge fallacy of the argument in opposing minimum wage. i'm not saying it has zero impact on prices, but the impact is not as direct as you're implying.
You lose the supply demand relationship when operating costs go up ACROSS THE BOARD, as with a minimum wage increase, so the impact is exactly as direct as I am implying.
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Old 11-11-2013, 11:23 AM
 
Location: West Orange, NJ
12,546 posts, read 21,366,438 times
Reputation: 3730
Quote:
Originally Posted by EBWick View Post
It has a lot to do with corporate culture. Costco doesn't have to pay $15/hour. But the benefit of a happy, loyal workforce and low turnover for them translates into a happier customer & better sales. WalMart has cost and virtually nothing else going for it. They lock employees in overnight and make it hard to get benefits. Their employees always look downtrodden. I know lots of ppl who won't shop there on principle.
i dont love Walmart, but it's not hard to get benefits there. My wife worked there for 9 years, so I know directly from experience. What is it that you believe is so hard to get there?
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Old 11-11-2013, 11:25 AM
 
Location: NJ/NY
18,431 posts, read 15,184,095 times
Reputation: 14296
Quote:
Originally Posted by bradykp View Post
there's some truth to what you're saying, but it's really not as insane as you would think. the standard deduction for a married couple is $12,000. so, for your mortgage interest deduction to be worth much to you, you have to have deductions well beyond $12,000 each year. it's a deduction that really benefits wealthier individuals, generally speaking.

with a simple phasing out, it could be eliminated without dramatically impacting home prices.
I guess it all depends on how you define "wealthy" in such a high priced area of the country.
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Old 11-11-2013, 11:28 AM
 
Location: West Orange, NJ
12,546 posts, read 21,366,438 times
Reputation: 3730
Quote:
Originally Posted by AnesthesiaMD View Post
You lose the supply demand relationship when operating costs go up ACROSS THE BOARD, as with a minimum wage increase, so the impact is exactly as direct as I am implying.
OK, then explain why countries and states with substantially higher minimum wages than our new one have lower prices at McDonalds and the like? or some with wages very high have only slightly higher prices?

bottom line is, you can only charge so much for a cheeseburger at mcdonald's. labor is not as substantial an operating cost as you're giving it credit. Supply and demand doesn't go to the wayside just because wages increase. Again, it has some impact, but not as direct as you're implying. (my current position actually is in finance for a company that this effects, and it truly will have no impact on our pricing at all).
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Old 11-11-2013, 11:29 AM
 
Location: West Orange, NJ
12,546 posts, read 21,366,438 times
Reputation: 3730
Quote:
Originally Posted by AnesthesiaMD View Post
I guess it all depends on how you define "wealthy" in such a high priced area of the country.
i'm speaking nationally. and i didn't say "wealthy", i said "wealthier". i'm certainly not wealthy, but i'm better off than many people i know, and i'm getting a nice tax benefit that I really don't need, all because I bought a more expensive house and have a lot of interest every year? why?
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