Andy Wiederhorn, CEO of the Fatburger restaurant chain,
says increasing the minimum wage to $15 per hour will not only hurt
workers, in some respects, but also come back to hit consumers in the
form of higher prices.
“A restaurant operator makes somewhere between 5-15%, and maybe a
spectacular location will do 25%,” Wiederhorn told The Cheat Sheet in an
interview, referring to the eventual profits restaurant owners and
franchisees bring in, after expenses. “You can’t absorb a 50% increase
in your cost of labor out of that 5-15%. You’ll lose money. So, you have
to raise prices.”
The bump in prices may not come as a shock to most people, who
expected as much following such a drastic increase in labor costs for
businesses. But what has remained unclear is exactly how much prices
would go up. According to Wiederhorn, it’s going to be more than most
people are comfortable with.
If you increase your prices 15%, that would just cover the cost of
the minimum wage increase,” he said. “Really, you have to raise your
prices 25-30%.”
Andy Wiederhorn, CEO of the Fatburger restaurant chain,
says increasing the minimum wage to $15 per hour will not only hurt
workers, in some respects, but also come back to hit consumers in the
form of higher prices.
“A restaurant operator makes somewhere between 5-15%, and maybe a
spectacular location will do 25%,” Wiederhorn told The Cheat Sheet in an
interview, referring to the eventual profits restaurant owners and
franchisees bring in, after expenses. “You can’t absorb a 50% increase
in your cost of labor out of that 5-15%. You’ll lose money. So, you have
to raise prices.”
The bump in prices may not come as a shock to most people, who
expected as much following such a drastic increase in labor costs for
businesses. But what has remained unclear is exactly how much prices
would go up. According to Wiederhorn, it’s going to be more than most
people are comfortable with.
If you increase your prices 15%, that would just cover the cost of
the minimum wage increase,” he said. “Really, you have to raise your
prices 25-30%.”
I've been saying that we need to have a 'healthy' class of poor people to keep inflation down. May as well be the people that don't enhance their job skills and those that don't aspire for more than minimum wage.
I welcome any logical arguments to the contrary.
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I've been saying that we need to have a 'healthy' class of poor people to keep inflation down. May as well be the people that don't enhance their job skills and those that don't aspire for more than minimum wage.
When prices go up, participation goes down and then your market declines. People choose not to partake of your goods or service and do without or do themselves.
LAYOFFS and fewer jobs will result.
0
When prices go up, participation goes down and then your market declines. People choose not to partake of your goods or service and do without or do themselves.
Speaking as someone that owns a small business I can see how devastating this it will be to lower skilled workers. People that deserve to make $8.50 an hour will never find a job with a minimum wage anywhere near $15.00 an hour. I recently had an entry level employee that was struggling and I thought to myself if I had to pay this person $15.00 he would've been gone in 2 days instead of the month I allowed this to try to work. Employers will be forced to make some very easy decisions on people that have jobs and people that don't. This will quickly alienate tens of millions of people from the workforce.
Everyone that thinks this is a good idea, please put yourself in a small businessman's shoes, say you have less than 10 employees, how many people to you think you can pay that kind of rate to that aren't stars? It's very simple math, your labor costs have to jive with your earnings. If I own the place and deal with all the issues 24 hours a day am I supposed to do that for what equates to $25 an hour so they can make $15 after putting up my life's savings to get into business. The minimum wage is perfect where it is, entry level people can't make $15 an hour to start... The thought process on this went off the rails when people began to believe your supposed to live on the minimum wage which is not it's intent. It's a wage people aren't supposed to make very long because they get experience and develop skills someone else can use, 30 year olds shouldn't be making minimum wage. I had an applicant this week that hit the trifecta. First they were 15 minutes late, a visible chest tattoo and a felony theft. No job for you even at $8.50. How do you think a $15.00 minimum will work out for them?
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Speaking as someone that owns a small business I can see how devastating this it will be to lower skilled workers. People that deserve to make $8.50 an hour will never find a job with a minimum wage anywhere near $15.00 an hour. I recently had an entry level employee that was struggling and I thought to myself if I had to pay this person $15.00 he would've been gone in 2 days instead of the month I allowed this to try to work. Employers will be forced to make some very easy decisions on people that have jobs and people that don't. This will quickly alienate tens of millions of people from the workforce.
Everyone that thinks this is a good idea, please put yourself in a small businessman's shoes, say you have less than 10 employees, how many people to you think you can pay that kind of rate to that aren't stars? It's very simple math, your labor costs have to jive with your earnings. If I own the place and deal with all the issues 24 hours a day am I supposed to do that for what equates to $25 an hour so they can make $15 after putting up my life's savings to get into business. The minimum wage is perfect where it is, entry level people can't make $15 an hour to start... The thought process on this went off the rails when people began to believe your supposed to live on the minimum wage which is not it's intent. It's a wage people aren't supposed to make very long because they get experience and develop skills someone else can use, 30 year olds shouldn't be making minimum wage. I had an applicant this week that hit the trifecta. First they were 15 minutes late, a visible chest tattoo and a felony theft. No job for you even at $8.50. How do you think a $15.00 minimum will work out for them?
Bow, I keep watching this thread for an argument. Crickets thus far. You're asking for a magic trick to make this work - something coming from nothing, it just doesn't happen. $15.00 is a lot of money, it took me 15 years to make that (of course inflation is part of that but someone is supposed to make that starting - with no skills or experience, I'm expected to train them at that rate? OUTRAGEOUS). I'll predict a 40% unemployment rate for people under 23, they just won't get hired. The workforce will begin to age very quickly.
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Bow, I keep watching this thread for an argument. Crickets thus far. You're asking for a magic trick to make this work - something coming from nothing, it just doesn't happen. $15.00 is a lot of money, it took me 15 years to make that (of course inflation is part of that but someone is supposed to make that starting - with no skills or experience, I'm expected to train them at that rate? OUTRAGEOUS). I'll predict a 40% unemployment rate for people under 23, they just won't get hired. The workforce will begin to age very quickly.
When I started at Alcoa in 1995 I made 7hr and I was really stoked. I quickly made it to ten/hr (within a year). Now my buddy told me they are starting people at 12/hr.
He tells me that people these days can't handle the work and quit after a few weeks. We're trending towards a bad place with the poosies nowadays.
0
When I started at Alcoa in 1995 I made 7hr and I was really stoked. I quickly made it to ten/hr (within a year). Now my buddy told me they are starting people at 12/hr.
He tells me that people these days can't handle the work and quit after a few weeks. We're trending towards a bad place with the poosies nowadays.
I had a 29 year old that worked at the business I bought previous to my arrival. I rehired her and raised her salary 27% in 18 months, because she "got it". She had yearly $1 an hour raises coming for as far as I could see (nice Xmas bonus 6 months after being there, even threw in some paid vac time). She got wind that a key employee was looking to leave and quit prior to her because "her job was too stressful" and (she could read that it was going to get harder), after all she was working 2.5 hrs a week overtime and NEVER A WEEKEND HOUR WORKED! She had tremendous job security (which isn't as popular as it used to be).
This was my assistant and the first words out of her mouth were "I think its time for me to leave". She was in position to buy this business one day and was quite capable of running it. I gave her the blueprint for what she needed to do and that didn't interest her, she left. (I wish someone would've shown me a way to own a successful business by the age of 40), I never had that conversation, it continues to amaze me to this day.
My bedrock belief in a good employee take 3 traits. Motivation, attitude & competency. 2 out of 3, you got nothing.
Hire someone that doesn't need a job nowadays and you have a problem. So little Johnny living in his mothers house is going to make $15 an hour at McDonalds at the age of 17. Yeah right, that's going to work. I just lived that one and he wasn't worth the $8.50 I was paying him and I couldn't commit the necessary resources training him necessary in a gamble that I could make him worth it...
Still crickets Bow from our intellectual friends, like we're the only 2 guys sitting in a bar.
0
I had a 29 year old that worked at the business I bought previous to my arrival. I rehired her and raised her salary 27% in 18 months, because she "got it". She had yearly $1 an hour raises coming for as far as I could see (nice Xmas bonus 6 months after being there, even threw in some paid vac time). She got wind that a key employee was looking to leave and quit prior to her because "her job was too stressful" and (she could read that it was going to get harder), after all she was working 2.5 hrs a week overtime and NEVER A WEEKEND HOUR WORKED! She had tremendous job security (which isn't as popular as it used to be).
This was my assistant and the first words out of her mouth were "I think its time for me to leave". She was in position to buy this business one day and was quite capable of running it. I gave her the blueprint for what she needed to do and that didn't interest her, she left. (I wish someone would've shown me a way to own a successful business by the age of 40), I never had that conversation, it continues to amaze me to this day.
My bedrock belief in a good employee take 3 traits. Motivation, attitude & competency. 2 out of 3, you got nothing.
Hire someone that doesn't need a job nowadays and you have a problem. So little Johnny living in his mothers house is going to make $15 an hour at McDonalds at the age of 17. Yeah right, that's going to work. I just lived that one and he wasn't worth the $8.50 I was paying him and I couldn't commit the necessary resources training him necessary in a gamble that I could make him worth it...
Still crickets Bow from our intellectual friends, like we're the only 2 guys sitting in a bar.
[Quote: Originally Posted by bowlslit] I've been saying that we need to have a 'healthy' class of poor people to keep inflation down. May as well be the people that don't enhance their job skills and those that don't aspire for more than minimum wage.
I welcome any logical arguments to the contrary. [/Quote
I believe minimm wage x 4 = should be the cost of living in area, access to health care not insurance but care for a family of four.
if rent for a two bedroom goes for 700 food at 100 a week transportation 60 a week than a wage earner at minium needs 10.10 an hour to make ends meet and allow a savings to generate for the children to ate higher earning. but this is nieve why take on American when 2 illegals can be employed at a fraction of thecost
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[Quote: Originally Posted by bowlslit] I've been saying that we need to have a 'healthy' class of poor people to keep inflation down. May as well be the people that don't enhance their job skills and those that don't aspire for more than minimum wage.
I welcome any logical arguments to the contrary. [/Quote
I believe minimm wage x 4 = should be the cost of living in area, access to health care not insurance but care for a family of four.
if rent for a two bedroom goes for 700 food at 100 a week transportation 60 a week than a wage earner at minium needs 10.10 an hour to make ends meet and allow a savings to generate for the children to ate higher earning. but this is nieve why take on American when 2 illegals can be employed at a fraction of thecost
Myths that increasing minimum wage is bad for economy, business and employment according to U.S. department of labor. Most studies show little to no negative effect when minimum wage is raised in modest increments over a long term. For example, Seattle. Over 200 economists signed a petition in support of $15 minimum wage as of 2020.
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Myths that increasing minimum wage is bad for economy, business and employment according to U.S. department of labor. Most studies show little to no negative effect when minimum wage is raised in modest increments over a long term. For example, Seattle. Over 200 economists signed a petition in support of $15 minimum wage as of 2020.
Lets roll back min wage to 3.25 like it was in the 80s, our poor starving corps need our immediate help and attention.
I also suggest that we build thousands of low income high rises so these 3.25 workers can live within their means, of course the high rises would be funded from the wage savings for our poor, hurting corporations.
Remember this holiday season, instead of donating to a low life thieving charity sucking bum, give that money to any of the millions of poor, starving, destitute corporations.
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Lets roll back min wage to 3.25 like it was in the 80s, our poor starving corps need our immediate help and attention.
I also suggest that we build thousands of low income high rises so these 3.25 workers can live within their means, of course the high rises would be funded from the wage savings for our poor, hurting corporations.
Remember this holiday season, instead of donating to a low life thieving charity sucking bum, give that money to any of the millions of poor, starving, destitute corporations.
Instead of the sarcasm Wall, how about explaining how I'm supposed to pay entry level employees $15.00 and hour? Will the Federal Government subsidize their training/trial period of employment?
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Instead of the sarcasm Wall, how about explaining how I'm supposed to pay entry level employees $15.00 and hour? Will the Federal Government subsidize their training/trial period of employment?
same way successful corporations have for decades. You have to maximize scheduling, minimize redundancy, maximize margins and minimize other costs, increase productivity and see how you can pass along costs to the next user...depending on your type of business this can be done by suggesting selling, finding lower cost centers for raw goods, reducing discounts and couponing.
There are many many ways to be successful, I can promise you that 15 an hour isnt the top...wages will continue to go up and the question is are you going to survive or not?
0
same way successful corporations have for decades. You have to maximize scheduling, minimize redundancy, maximize margins and minimize other costs, increase productivity and see how you can pass along costs to the next user...depending on your type of business this can be done by suggesting selling, finding lower cost centers for raw goods, reducing discounts and couponing.
There are many many ways to be successful, I can promise you that 15 an hour isnt the top...wages will continue to go up and the question is are you going to survive or not?
Lets roll back min wage to 3.25 like it was in the 80s, our poor starving corps need our immediate help and attention.
I also suggest that we build thousands of low income high rises so these 3.25 workers can live within their means, of course the high rises would be funded from the wage savings for our poor, hurting corporations.
Remember this holiday season, instead of donating to a low life thieving charity sucking bum, give that money to any of the millions of poor, starving, destitute corporations.
Why would you take the conversation in a direction like this?
When min wage was that low, housing prices were a fraction of what they have become now. You could buy a really nice house for under 100k. Raise min wage and you will see starter home prices begin at 250 or 300k in a regular state. Then what happens when the layoffs start? 2008 all over again and much worse.
You get too but hurt about corporate profits. What about college education costs are you up in arms about?
Why does it cost 30k + to go to college for one year? How can this be sustainable?
I think your understanding of economics is flawed and unreasonable.
You think its wrong for guys like poppa john to make so much $, is it his fault that so many people want to pay his franchise fees?
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Quote Originally Posted by wallstreetcappers:
Lets roll back min wage to 3.25 like it was in the 80s, our poor starving corps need our immediate help and attention.
I also suggest that we build thousands of low income high rises so these 3.25 workers can live within their means, of course the high rises would be funded from the wage savings for our poor, hurting corporations.
Remember this holiday season, instead of donating to a low life thieving charity sucking bum, give that money to any of the millions of poor, starving, destitute corporations.
Why would you take the conversation in a direction like this?
When min wage was that low, housing prices were a fraction of what they have become now. You could buy a really nice house for under 100k. Raise min wage and you will see starter home prices begin at 250 or 300k in a regular state. Then what happens when the layoffs start? 2008 all over again and much worse.
You get too but hurt about corporate profits. What about college education costs are you up in arms about?
Why does it cost 30k + to go to college for one year? How can this be sustainable?
I think your understanding of economics is flawed and unreasonable.
You think its wrong for guys like poppa john to make so much $, is it his fault that so many people want to pay his franchise fees?
You are saying corps cant handle a wage increase, that they will go under and then went on to blabber about liberals and all that usual garbage.
My reply is as pertinent as your original post is. Why are you painting corps as some poor, downtrodden entity that the evil low level wage earners are going to take the business from the poor corporate franchisees?
We have discussed inflation in the past if you remember and your argument was proven faulty before and now the same.
Sure you could have purchased a house for 100k back then..but that is a stupid general comment..what kind of house, what size of house, what quality of construction and energy efficiency?
I was a kid in the good ole days, and most houses were MUCH smaller than average sf now, I didnt live in a house with AC until I was in college, energy efficiency was a joke, quality of construction not even close..average houses now versus average houses then it isnt even comparable.
And remember our discussion of wage inflation versus other inflation? Wage inflation has not kept up with general inflation at all, just pull out a CPI (which is a sham and understated) and overlay min wage..its just a faulty argument period.
Wages have gone up over time, they will keep going up...businesses will survive and prosper, those that are able to adapt and function. Like in the past, businesses which cannot adapt fail period..no matter if the wage base is 3.25 or 15 bucks an hour.
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A direction like that?
You are saying corps cant handle a wage increase, that they will go under and then went on to blabber about liberals and all that usual garbage.
My reply is as pertinent as your original post is. Why are you painting corps as some poor, downtrodden entity that the evil low level wage earners are going to take the business from the poor corporate franchisees?
We have discussed inflation in the past if you remember and your argument was proven faulty before and now the same.
Sure you could have purchased a house for 100k back then..but that is a stupid general comment..what kind of house, what size of house, what quality of construction and energy efficiency?
I was a kid in the good ole days, and most houses were MUCH smaller than average sf now, I didnt live in a house with AC until I was in college, energy efficiency was a joke, quality of construction not even close..average houses now versus average houses then it isnt even comparable.
And remember our discussion of wage inflation versus other inflation? Wage inflation has not kept up with general inflation at all, just pull out a CPI (which is a sham and understated) and overlay min wage..its just a faulty argument period.
Wages have gone up over time, they will keep going up...businesses will survive and prosper, those that are able to adapt and function. Like in the past, businesses which cannot adapt fail period..no matter if the wage base is 3.25 or 15 bucks an hour.
You are saying corps cant handle a wage increase, that they will go under and then went on to blabber about liberals and all that usual garbage.
My reply is as pertinent as your original post is. Why are you painting corps as some poor, downtrodden entity that the evil low level wage earners are going to take the business from the poor corporate franchisees?
We have discussed inflation in the past if you remember and your argument was proven faulty before and now the same.
Sure you could have purchased a house for 100k back then..but that is a stupid general comment..what kind of house, what size of house, what quality of construction and energy efficiency?
I was a kid in the good ole days, and most houses were MUCH smaller than average sf now, I didnt live in a house with AC until I was in college, energy efficiency was a joke, quality of construction not even close..average houses now versus average houses then it isnt even comparable.
And remember our discussion of wage inflation versus other inflation? Wage inflation has not kept up with general inflation at all, just pull out a CPI (which is a sham and understated) and overlay min wage..its just a faulty argument period.
Wages have gone up over time, they will keep going up...businesses will survive and prosper, those that are able to adapt and function. Like in the past, businesses which cannot adapt fail period..no matter if the wage base is 3.25 or 15 bucks an hour.
I'm not falling for that liberal mind trick...I never said big corps are struggling or don't have the means to pay higher wages.
I don't think it's healthy to spend dollars hand over fist above the msrket for labor, contracts, supplies or any other aspect of the business pie chart.
I know you guy's hate personal stories but '87 when I was a sophomore in high school my parents made a combined amount less than 30k annually and almost purchased a 2000 sq ft home 5 bedroom 3 bath home with ac for 80k. Would have purchased if not for the divorced wife changing mind not to sell. House was built in 1972 and now is worth 235K In todays market.
My dad had no REAL marketable skills and worked in sales or janitorial type jobs.
I guarantee that house is better built than most homes built today if you don't consider advances in technology.
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Quote Originally Posted by wallstreetcappers:
A direction like that?
You are saying corps cant handle a wage increase, that they will go under and then went on to blabber about liberals and all that usual garbage.
My reply is as pertinent as your original post is. Why are you painting corps as some poor, downtrodden entity that the evil low level wage earners are going to take the business from the poor corporate franchisees?
We have discussed inflation in the past if you remember and your argument was proven faulty before and now the same.
Sure you could have purchased a house for 100k back then..but that is a stupid general comment..what kind of house, what size of house, what quality of construction and energy efficiency?
I was a kid in the good ole days, and most houses were MUCH smaller than average sf now, I didnt live in a house with AC until I was in college, energy efficiency was a joke, quality of construction not even close..average houses now versus average houses then it isnt even comparable.
And remember our discussion of wage inflation versus other inflation? Wage inflation has not kept up with general inflation at all, just pull out a CPI (which is a sham and understated) and overlay min wage..its just a faulty argument period.
Wages have gone up over time, they will keep going up...businesses will survive and prosper, those that are able to adapt and function. Like in the past, businesses which cannot adapt fail period..no matter if the wage base is 3.25 or 15 bucks an hour.
I'm not falling for that liberal mind trick...I never said big corps are struggling or don't have the means to pay higher wages.
I don't think it's healthy to spend dollars hand over fist above the msrket for labor, contracts, supplies or any other aspect of the business pie chart.
I know you guy's hate personal stories but '87 when I was a sophomore in high school my parents made a combined amount less than 30k annually and almost purchased a 2000 sq ft home 5 bedroom 3 bath home with ac for 80k. Would have purchased if not for the divorced wife changing mind not to sell. House was built in 1972 and now is worth 235K In todays market.
My dad had no REAL marketable skills and worked in sales or janitorial type jobs.
I guarantee that house is better built than most homes built today if you don't consider advances in technology.
Once again wall gets it and lays it out perfectly.
The original post is interesting. Legit in its theory? I guess so for many companies. But how about the reverse? How about all the stories that suggest a raise in minimum wage is good, needed, not harmful to business etc? Why not focus on the while story as opposed to one individuals perspective who clearly has some vested interest to see wages stay low? Stories from one owner (as is the case of this thread) or better yet the personal anecdote described above is not an approach to discussing this issue.
There are real numbers to show the growing divide between owners and workers and the ever shrinking of the middle class.
I understand that there are two very different ideological mind frames to this issue but the numbers do not lie regardless of what the CEO of fat burger says.
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Once again wall gets it and lays it out perfectly.
The original post is interesting. Legit in its theory? I guess so for many companies. But how about the reverse? How about all the stories that suggest a raise in minimum wage is good, needed, not harmful to business etc? Why not focus on the while story as opposed to one individuals perspective who clearly has some vested interest to see wages stay low? Stories from one owner (as is the case of this thread) or better yet the personal anecdote described above is not an approach to discussing this issue.
There are real numbers to show the growing divide between owners and workers and the ever shrinking of the middle class.
I understand that there are two very different ideological mind frames to this issue but the numbers do not lie regardless of what the CEO of fat burger says.
Your right matt, the numbers don't lie. How am I supposed to pay 6 employees $15 an hour to maintain my business when it's just not there. The majority of the country's employees work for SMALL BUSINESSES, everyone's not Bethlehem Steel (which is gone) or GM (which dear gov had to bailout).
Wall's suggestion "maximize scheduling" wtf is that? Sounds like I'm supposed to make them all part time, send them home when they're not absolutely needed, is that what that means? Sounds to me like Obamacare, people used to work 40 hours and the idiot makes a law that lets the companies cut the hours to 29 and avoid designating them as full-time employees (any complaints about that Wall?)
"Minimize other costs" - my rent is my rent, the electric company gets what they want, gov takes their "fair share", my vendors charge what they're going to charge for the materials I need to operate - more b.s. Wall. Go fish. I'm not IBM or Apple, I have 6 people.
Like the man said, liberal pie in the sky b.s. solutions that won't work.
And Matt, I don't have a vested interest to see numbers low, I have a vested interested in the ridiculous suggestion that the minimum wage should be $15 an hour for inexperienced/talentless people. Prediction - the unemployment rate will rival Spain's 27%+ if this ever becomes a national law. Of course the gov will doctor the numbers like they always do to lie to the morons among us to believe this is a good thing, pay no attention to the boarded up businesses. Little Johnny's making $15 hour an hour with a 9th grade education and no experience, everything's wonderful.
"Increase productivity" - I hire an inexperienced 17 year old that doesn't know anything, what am I supposed to do whip him? THESE TYPES OF PEOPLE WON'T BE HIRED BY SMALL BUSINESSES which will alienate them from millions of jobs - that's your solution huh?
0
Your right matt, the numbers don't lie. How am I supposed to pay 6 employees $15 an hour to maintain my business when it's just not there. The majority of the country's employees work for SMALL BUSINESSES, everyone's not Bethlehem Steel (which is gone) or GM (which dear gov had to bailout).
Wall's suggestion "maximize scheduling" wtf is that? Sounds like I'm supposed to make them all part time, send them home when they're not absolutely needed, is that what that means? Sounds to me like Obamacare, people used to work 40 hours and the idiot makes a law that lets the companies cut the hours to 29 and avoid designating them as full-time employees (any complaints about that Wall?)
"Minimize other costs" - my rent is my rent, the electric company gets what they want, gov takes their "fair share", my vendors charge what they're going to charge for the materials I need to operate - more b.s. Wall. Go fish. I'm not IBM or Apple, I have 6 people.
Like the man said, liberal pie in the sky b.s. solutions that won't work.
And Matt, I don't have a vested interest to see numbers low, I have a vested interested in the ridiculous suggestion that the minimum wage should be $15 an hour for inexperienced/talentless people. Prediction - the unemployment rate will rival Spain's 27%+ if this ever becomes a national law. Of course the gov will doctor the numbers like they always do to lie to the morons among us to believe this is a good thing, pay no attention to the boarded up businesses. Little Johnny's making $15 hour an hour with a 9th grade education and no experience, everything's wonderful.
"Increase productivity" - I hire an inexperienced 17 year old that doesn't know anything, what am I supposed to do whip him? THESE TYPES OF PEOPLE WON'T BE HIRED BY SMALL BUSINESSES which will alienate them from millions of jobs - that's your solution huh?
if n avg meal delivered at a medium f 2 min costs 7.00 a crew of five. hmm lets do the math. the entity is making 210 an hour ss for an 10 hour himpact schedual on a 16 schedualed day the franchise is making gross 2000 a day 5 x 16 x 8= 640 utitlities at 50 and franchise fees at 200 the corp is generating 1000 a day profit even if the wage was 15 corp would still be making 300 a day.
if a corporation must exist a saddle the state with a food stamp bill to employ low cost labor they should then be prepared to pay the state for the burden to society they are creating........... do you want fries with that tanf. check
0
if n avg meal delivered at a medium f 2 min costs 7.00 a crew of five. hmm lets do the math. the entity is making 210 an hour ss for an 10 hour himpact schedual on a 16 schedualed day the franchise is making gross 2000 a day 5 x 16 x 8= 640 utitlities at 50 and franchise fees at 200 the corp is generating 1000 a day profit even if the wage was 15 corp would still be making 300 a day.
if a corporation must exist a saddle the state with a food stamp bill to employ low cost labor they should then be prepared to pay the state for the burden to society they are creating........... do you want fries with that tanf. check
small business employs people because of nessecity not obligation if a owner could do it a y his onseys then in most cses thedo they are not a non profit charity as you and killer b so poinintly put out...
0
small business employs people because of nessecity not obligation if a owner could do it a y his onseys then in most cses thedo they are not a non profit charity as you and killer b so poinintly put out...
Your right matt, the numbers don't lie. How am I supposed to pay 6 employees $15 an hour to maintain my business when it's just not there. The majority of the country's employees work for SMALL BUSINESSES, everyone's not Bethlehem Steel (which is gone) or GM (which dear gov had to bailout).
Wall's suggestion "maximize scheduling" wtf is that? Sounds like I'm supposed to make them all part time, send them home when they're not absolutely needed, is that what that means? Sounds to me like Obamacare, people used to work 40 hours and the idiot makes a law that lets the companies cut the hours to 29 and avoid designating them as full-time employees (any complaints about that Wall?)
"Minimize other costs" - my rent is my rent, the electric company gets what they want, gov takes their "fair share", my vendors charge what they're going to charge for the materials I need to operate - more b.s. Wall. Go fish. I'm not IBM or Apple, I have 6 people.
Like the man said, liberal pie in the sky b.s. solutions that won't work.
And Matt, I don't have a vested interest to see numbers low, I have a vested interested in the ridiculous suggestion that the minimum wage should be $15 an hour for inexperienced/talentless people. Prediction - the unemployment rate will rival Spain's 27%+ if this ever becomes a national law. Of course the gov will doctor the numbers like they always do to lie to the morons among us to believe this is a good thing, pay no attention to the boarded up businesses. Little Johnny's making $15 hour an hour with a 9th grade education and no experience, everything's wonderful.
"Increase productivity" - I hire an inexperienced 17 year old that doesn't know anything, what am I supposed to do whip him? THESE TYPES OF PEOPLE WON'T BE HIRED BY SMALL BUSINESSES which will alienate them from millions of jobs - that's your solution huh?
How did you manage to survive this long?
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Quote Originally Posted by Killer_B:
Your right matt, the numbers don't lie. How am I supposed to pay 6 employees $15 an hour to maintain my business when it's just not there. The majority of the country's employees work for SMALL BUSINESSES, everyone's not Bethlehem Steel (which is gone) or GM (which dear gov had to bailout).
Wall's suggestion "maximize scheduling" wtf is that? Sounds like I'm supposed to make them all part time, send them home when they're not absolutely needed, is that what that means? Sounds to me like Obamacare, people used to work 40 hours and the idiot makes a law that lets the companies cut the hours to 29 and avoid designating them as full-time employees (any complaints about that Wall?)
"Minimize other costs" - my rent is my rent, the electric company gets what they want, gov takes their "fair share", my vendors charge what they're going to charge for the materials I need to operate - more b.s. Wall. Go fish. I'm not IBM or Apple, I have 6 people.
Like the man said, liberal pie in the sky b.s. solutions that won't work.
And Matt, I don't have a vested interest to see numbers low, I have a vested interested in the ridiculous suggestion that the minimum wage should be $15 an hour for inexperienced/talentless people. Prediction - the unemployment rate will rival Spain's 27%+ if this ever becomes a national law. Of course the gov will doctor the numbers like they always do to lie to the morons among us to believe this is a good thing, pay no attention to the boarded up businesses. Little Johnny's making $15 hour an hour with a 9th grade education and no experience, everything's wonderful.
"Increase productivity" - I hire an inexperienced 17 year old that doesn't know anything, what am I supposed to do whip him? THESE TYPES OF PEOPLE WON'T BE HIRED BY SMALL BUSINESSES which will alienate them from millions of jobs - that's your solution huh?
if it comes to small buisnesses are the problem than regulations shuld wipe out these debts to society and allow workers to moto frhises tat can provide a wage to feed cloth and house their ersonal without state help this would relieve state from becoming welfasre suistant to subsidise poor labor practicises and llow a purer form of capitalism. right?
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if it comes to small buisnesses are the problem than regulations shuld wipe out these debts to society and allow workers to moto frhises tat can provide a wage to feed cloth and house their ersonal without state help this would relieve state from becoming welfasre suistant to subsidise poor labor practicises and llow a purer form of capitalism. right?
Why would you take the conversation in a direction like this?
When min wage was that low, housing prices were a fraction of what they have become now. You could buy a really nice house for under 100k. Raise min wage and you will see starter home prices begin at 250 or 300k in a regular state. Then what happens when the layoffs start? 2008 all over again and much worse.
You get too but hurt about corporate profits. What about college education costs are you up in arms about?
Why does it cost 30k + to go to college for one year? How can this be sustainable?
I think your understanding of economics is flawed and unreasonable.
You think its wrong for guys like poppa john to make so much $, is it his fault that so many people want to pay his franchise fees?
it costs 20k to educate students from k-12 why not put up 16 k to continue to a degree in most community colleges or public universities.
as for housing would you reduce carpentors to food stamp eligible to sussedd housing costs but those ppoor little banks feeding from interests to accumue more oxic assets. your theory ws disproven by ford. any laborer could purchase a car in that era with 1/4 of their salary. cars became common and America flourished the small business cry doesn't tread water but is the cause of state burdens on dhs.......
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Quote Originally Posted by bowlslit:
Why would you take the conversation in a direction like this?
When min wage was that low, housing prices were a fraction of what they have become now. You could buy a really nice house for under 100k. Raise min wage and you will see starter home prices begin at 250 or 300k in a regular state. Then what happens when the layoffs start? 2008 all over again and much worse.
You get too but hurt about corporate profits. What about college education costs are you up in arms about?
Why does it cost 30k + to go to college for one year? How can this be sustainable?
I think your understanding of economics is flawed and unreasonable.
You think its wrong for guys like poppa john to make so much $, is it his fault that so many people want to pay his franchise fees?
it costs 20k to educate students from k-12 why not put up 16 k to continue to a degree in most community colleges or public universities.
as for housing would you reduce carpentors to food stamp eligible to sussedd housing costs but those ppoor little banks feeding from interests to accumue more oxic assets. your theory ws disproven by ford. any laborer could purchase a car in that era with 1/4 of their salary. cars became common and America flourished the small business cry doesn't tread water but is the cause of state burdens on dhs.......
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