Close the borders, have 50% import tariff on everything and stop ALL legal immigration for 50 years and maybe I'd go along with that.
Posted on 07/18/2019 11:48:07 AM PDT by conservative98
The House of Representatives approved the Raise the Wage Act Thursday, which would boost the federal minimum wage for the first time in a decade.
In a 231-199 vote along party lines, the House passed the legislation that would increase the minimum wage to $15 an hour, more than double the current rate of $7.25. In an even more drastic increase, the bill calls for having the same minimum wage for tipped workers, raising it from $2.13 an hour.
(Excerpt) Read more at foxnews.com ...
Except that it won't. Labor is such small component of what we buy. Even the restaurant business labor is not the biggest cost driver.
"There are almost 28 million small businesses in the US and over 22 million are self employed with no additional payroll or employees (these are called nonemployers)"
28 - 22 = 8. Basic math.
Ok so raising the min. wage increases efficiency, another plus.
It will restructure jobs. People will still go out to eat and pay to have their yards mowed. Life goes on. For once can the "right wing" not play into the left's hands?
How difficult is it to understand that your competitors have to pay the same min. wage as you do? Is that so difficult to grasp?
Change is best managed by free markets, not governments.
Well go out of business and learn to code. There are 8 million small businesses with more than 1 employees. All they want out of life is cheap labor. If you are actually providing a valuable service SOMEBODY will do it after you quit and start coding in Java. Nobody care about those 8 million. Nobody gives a sh!+ about them and their insatiable need for cheap labor.
The same government that allows the rest of the world to practice outright mercantilism against the USA with outright support of the "ring wing"? Is the the "free market" you are talking about?
The market place has been artificially flooded with an oversupply of labor thru both legal and illegal immigration. So wages need to be artificially set too. Artificiality begets artificiality.
Your ignorance is astounding!
How much of my total costs should be labor?
In the restaurant industry, ideal labor costs are determined by comparison to your total sales in a given period of time. A common recommendation for restaurateurs is to allocate of their total sales to food and labor, otherwise known as your “prime costs.” The more you spend on labor, the less you have to spend on food, and vice versa, so the general recommendation is not to exceed 30 percent of your total sales on either.
Management salaries should not exceed 10 percent of sales for either full service or quick serve. This amount is included in the 30 percent recommendation, leaving 20 percent of your total sales in a given period for non-managerial staff.
So, for instance, if your restaurant makes $10,000 in a given week in total sales, your labor costs (hourly, salaried, and management combined) should not be more than $3,000 (with another $3,000 allocated to food costs). Of the remaining $4,000 in sales, keep in mind how much goes to rent, utilities, equipment maintenance, upkeep of small wares, and — most critical of all — federal, state, and local taxes.
It’s small wonder why the average restaurateur only manages a somewhere between two and six percent.
forecast-restaurant-labor-costs
I am tired as a tax payer of subsidizing the lower half of the work force. Below is from the commie Slate but just look at it objectively. I have no reason to doubt the stats given.
PS: I also watch MSNBC to see what the enemy is up to.
That means the same company that brings in the most food stamp dollars in revenue—an estimated $13 billion last year—also likely has the most employees using food stamps.
Oh, so restaurateurs want to set wages like communists? I "shouldn't" have to pay more than $5 for a nice steak dinner.
So yes, or no?
How you got that out of what I posted is totally convoluted. And, BTW, You're the one on here stating that we should raise the minimum wage to $15. You're the communist spouting setting wages like communists!
No. I am talking about the free market.
There will always be change, and the disruption that accompanies it.
Change is better managed by the free market than government.
Watch this mama:
The true minimum wage is always zero.
Freepers are funny people some times.
Close the borders, have 50% import tariff on everything and stop ALL legal immigration for 50 years and maybe I'd go along with that.
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