How Would $15 Min Wage Impact Non Working Seniors? (support, family, beach)
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Lets say a woman owns a franchise restaurant, she has 20 employees. Some employees are making Minimum-Wage [MW], most of them are making between MW+25 cents to MW+a dollar, and the owner is making $40k/year [roughly $20/hour]. How much pay-cut should such a wealthy business owner experience to give these pay raises to her employees?
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Since when is someone going to pay $1M-$2M to open a franchise in order to make $40K per year?
Most McDonald's owner/operators have entered the corporation by purchasing an existing restaurant. To open a McDonald's franchise, however, requires a total investment of $1-$2.2 million, with liquid capital available of $750,000. The franchise fee is $45,000.
You've taken a position without collecting all of the facts.
How many people in your area work below $15 per hour?
Did you give any thought to the increase in economic activity because people have more income?
Did you factor in that this new minimum wage will be phased in?
How much did a car cost back in 1970 when the minimum wage was $2 per hour?
How much would a car of similar quality cost now?
So they didn't give you a COLA raise this year they may next. The truth is that if the minimum wage had a COLA raise it might be $20 per hour.
I wouldn't be popping open the cat food yet unless I had a cat.
About 1/4 of jobs pay $10/hr or less.
The increase in economic activity because people have more income, is devastating to people living on fixed incomes, because the increase in incomes and economic activity results in necessarily skyrocketing rents. In my area, rents are up 25% over the past two years, while fixed income COLA has been zero.
You did not address the question asked, which is what will happen to those on fixed incomes.
About 1/4 of jobs pay $10/hr or less.
The increase in economic activity because people have more income, is devastating to people living on fixed incomes, because the increase in incomes and economic activity results in necessarily skyrocketing rents. In my area, rents are up 25% over the past two years, while fixed income COLA has been zero.
You did not address the question asked, which is what will happen to those on fixed incomes.
wow, so you are arguing for more poverty and human suffering for non-seniors and low economic activity and high unemployment. This is good for seniors?
Instead of fighting to keep every non-senior as poor as possible, how about fighting to expand social security? The working class, the disabled and the poor are not your enemy. If the 99% cant come together and realize that the donor class is the class that is ripping people off by buying your poltician and getting benefits at your expense, when will change ever happen? The donor class has for 40 years now been laughing all the way to the bank as the 99% is pushed further and further down. Pick the right fight. The donor class who buys your politician is not your friend.
Prices would go up in some areas. While we all no better than to expect a taxcut at least there should be less tax increase needed for those receiving Social services.
Doug McMillon, the Walmart CEO, made $19.4 million last year. You could give spread 100% of his pay between the employees and it's less than $10.00.
The 2nd one was a copy/paste error. I presume it's Brian Cornell, Target's CEO. He made $16.9 million last year.
All the CEOs have performance-related compensation. Big box retail didn't have a particularly great 2015. The expensive, high margin stuff has been moving to internet sales.
I don't think the people with all the sour grapes understand how much damage a bad CEO can do to a corporation. A good CEO is worth every penny. Walmart is a $229 billion dollar company. A bad CEO could vaporize $100 billion worth of market cap. If you want to gripe at golden parachutes with juicy employment contracts for the bad ones, sure.
Workers who are well paid will make a lot of money for the company. Sam Walton has said "take care of the customer". You'll want a good workforce for that.
About 1/4 of jobs pay $10/hr or less.
The increase in economic activity because people have more income, is devastating to people living on fixed incomes, because the increase in incomes and economic activity results in necessarily skyrocketing rents. In my area, rents are up 25% over the past two years, while fixed income COLA has been zero.
You did not address the question asked, which is what will happen to those on fixed incomes.
Social Security is not fixed income. If SS is not enough I suggest a part time job to supplement income. As far as rents in your area, that's the free market as your name suggests. As I illustrate in post #81, I suggest that your estimate of 25% is an over estimate. I believe that you are a business person in the area that you live and that you pay your employees less than a living wage.
Like the presidential order raising the threshold for salaried employees, the raise in the minimum wage is action taken to remedy the republican scam called trickle down economics.
it doesn't take a genius to figure out that cost savings goes straight to their bottom line; lots of corporate profit is courtesy of taxpayers...
If you look at every person that does the same line of work as the people at Walmart, you would find the same level of public assistance going to them, per capita. Walmart is just an easy target because they are a single entity doing the same thing as many other employers across the country. They just do the same thing on a grander scale. Is a person who seeks out easy targets just being lazy?
If you look at every person that does the same line of work as the people at Walmart, you would find the same level of public assistance going to them, per capita. Walmart is just an easy target because they are a single entity doing the same thing as many other employers across the country. They just do the same thing on a grander scale. Is a person who seeks out easy targets just being lazy?
I think they are looking at them because of that grander scale and because they are a large publicly traded corporation, not some small local business that is barely scraping by trying to compete with them. They are large enough that it has a ripple effect - the small mom and pop retailer has a hard time paying their employees a decent wage and still being able to turn a profit without pricing themselves too high (part of that is also competing with Walmart's buying power). If you read the article, Walmart is the focus but they are not completely singled out:
Quote:
American fast food industry outsourced a combined $7 billion in annual labor costs to taxpayers. McDonald's MCD -0.26% alone accounted for $1.2 billion of that outlay.
Yum Brands came in at a distant number two, with its Pizza Hut, Taco Bell and KFC subsidiaries costing $648 million in benefits programs for workers each year.
The bottom line in this debate is that either you agree it is okay to pay some people less than it takes to survive or you don't. I don't.
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