Quote:
Originally Posted by Luke_Wyatt
Your logic is flawed 100 percent if I owned a company and let's say I made 10 million PROFIT and again profit after all overhead expense have been paid if the minimum wage was increased and it caused me to instead of making 10 million in profit I made 8 million in profit - are you saying that's a good reason why not to raise minimum wage because I can't make more profit than previously ?
If your logic was true than there should never be an increase in anyone's wages. Are you telling me McDonalds would be in the red and lose billions of dollars with an increase in minimum wage ? SUre they will take a dip in overall profits but they will still have a handsome profit. It's called corporate greed!!!
|
I never said a large comoany can't make profit. I said they will pass costs along to the consumer. (Try to read my posts more closely if you would like to respond. This is becoming tedious.) If you still disagree, I suggest you take up with the guys at Forbes.
http://www.forbes.com/sites/timworst.../#3bf9d842a4e9
Yes, it's the result of corporate greed. This greed will cause large corporations to spend as little as possible to get a product to the consumer and sell it for as much as the consumer will pay. The difference between costs (including wages to employees) and what the consumer pays is called "profit". Corporations want profit. In fact, they want a lot of profit. (Unlike you. You probably asked the DoD for a pay cut because you felt guilty about all that money you were taking in.)
This is true of small businesses too. Unfortunately for small businesses, profit margins are much lower. These narrow profit margins make it difficult to pay employees. (It may surprise you to know that few small businesses make "$10 million" a year.) Increases in minimum wage can make staying in business impossible for small business owners. (Greedy bastards, always trying to make money).
The plus side of increased profit is that a company can afford to hire more people.
The best way to get money into the hands of low wage earners is to decrease their tax burden.
Take a look at your (...or a family member's) most recent pay stub. Look at all that tax they pay. Imagine if they got to keep that money. (I recently realized my lifetime taxes would buy several houses.) Here's another interesting bit of info. It costs more money for the federal government to collect taxes on people who make less than $100k/year than the government actually takes in from those people. Of course cutting taxes would mean some tax collectors would be out of a job. The bottom 50% of wage earners currently pay less than 2% of our country's income tax. Even if the government lost those revenues, the loss is negligible.
So what have we learned?
Increased minimum wage caused an increase to production costs.
Increased costs are passed to the consumer (because people who own businesses want to make money.)
Higher costs are bad for the consumer because the dollar doesn't buy as much as it could if costs were low.
Lower (or even 0) tax rates for low wage earners would be good. This means tax cuts.
I'm growing bored of this discussion so, if you intend to respond, read my post closely. Do not suggest I am saying something I havent. (Reread your posts here. You have done that a couple times.) Feel free to do research and double check my info. I did not post links for much of it but the info is pretty easy to find. If you are just going to respond with the Hillary propaganda you heard then you are wasting everyone's time. Public Hillary has promises for you bease she wants your vote. Unfortunately private Hillary is the one who gets paid. And she gets paid a lot. Thats what your thread here is about.
