Topic: Minimum Wage?
no photo
Wed 05/21/14 06:47 PM

Mom and Pop have to not only pay minimum wage, they have to pay SS, pay into the unemployment fund,etc.,etc.

Perhaps, experience in owning a business and hiring a couple workers might enlighten you.

I really have to wonder why some who choose not to be a part of the labor force even care what wages are paid. Long as wailfur pays, all is good, no? laugh


I can't understand how one that refuses to be responsible can claim knowledge not possessed that is so often proved wrong can not stop and ask about information instead of trying to prove the concept that it is better to be thought the fool than to insist on proving it.

But I will concede one point, they are definitely the expert on excuses.

no photo
Wed 05/21/14 07:12 PM

yep, except SS is taken from what the employee earned,,,where the employee is concerned , so their ss comes from the percentage of what they personally earned like everyone else

and , since they aren't having to pay minimum wage its irrelevant to the conversation ABOUT minimum wage in relation to mum and pop (when they have sales than half a mill per year, not a bad amount of sales)

I wonder why those who aren't black even care what blacks do, or those who aren't female care what females do, or those who aren't American care about what americans do,,,

oh ,wait, no I don't, because I kind of AKNOWLEDGE no one is living in a vacuum and peoples actions directly and indirectly are tied to each other in some way, tied to the community in which they must live TOGETHER,,,


From bad to worse, not a clue about what a pay check ensues, and then trying to discuss from the employer standpoint.

For every dollar of FICA and now separated and on it's own Medicare, tax paid by the employee, the employer matches. And no it's not Social Security, that is what you get paid when your retire, not the tax that is paid. And last year when the employee got a break, the employer did not and paid full scale.

But then an employer must pay Unemployment Insurance to both the state and federal government and god forbid you fire someone without going through this long and drawn out process of paperwork or having them arrested, results in an increase in the percentage of payroll expense.

And then there is Worker's Compensation, another great wage matching contribution. I mean my office manager was rated at 30%, just in case of a paper cut or something, good thing I went to the bank or that would have been increased because of increased risk of driving to the bank or maybe being robbed. But then it increases dramatically as perceived risks increases all the way up to like a roofer that is 100%, that's right, pay them $10.00 and hour and your workers comp is $10.00 an hour. And a fast food worker working around sharp instruments, hot surfaces and wet, slick floors could conceivably have an experience rating of 40 to 50%.

But then why should the entitlement crowd care, they got theirs'. But you see, the real implications are never discussed, just the part about what is good from the politicians and entitlement point of view.

no photo
Wed 05/21/14 07:29 PM



So now if minimum wage was set to be lets say 5.00 an hour and the

cost of living continues to go up and up and minimum wage hasn't

risen to accommodate ..then minimum wage has just become less than

minimum wage...So now look at how many times minimum wage wasn't

increased and how long it went before it was increased and tell me

that the cost of living didn't go up during these extended

periods..there again minimum wage is not what minimum wage should be

..so it's not even minimum wage anymore..spock


Not really, minimum wage by it's very concept is minimum wage. What is not understood is it's implication. If you set the minimum wage to $5 an hour, then many people are eligible to work. There are still a few that aren't qualified, their service not being worth that $5.

But now raise that wage to $7 an hour and those that are worth $5 or $6 an hour just got excluded from the market. They would now need to either upgrade their skills to the new level or become permanently unemployed. So with every increase in that wage, those on the poor end suffer by becoming unemployable.

Otherwise in a free market, one could start by doing menial tasks and gain skills and experience that results in increased earnings, earnings because in an upgrade in skills, earnings that will over time increase because of increased experience and new skills earned. But now what if you couldn't get on that band wagon? Without starting how do you gain experience and skills?

It's the age old quandary made worst by government keep trying to instill their hand to resolve something that resolves itself. Now they have regulated all the jobs overseas, have destroyed almost all hope of small business as it was once known and have made even a minimum wage job require a college degree.

But I hope they raise the minimum to $15 an hour. It is no skin off my nose and it would definitely amuse me.

no photo
Wed 05/21/14 08:00 PM


It doesn't matter even one bit what the number is. A higher number is arbitrary. Purchasing power is what matters. If less people are working because businesses can't afford the higher wages, then less is produced which means less for everyone no matter how you redistribute it.

If EVERYONE worked, even at 1 cent an hour, more wealth would be created and we could all buy more. Money is after all nothing but a representation of labor. If no one labors, doesn't matter if you have a $500 minimum wage.

Not suggesting that we have a 1 cent minimum wage, but not $16 per hour for flipping burgers either.


the problem with this premise is that the gov't inflates real pay with aide when people do not earn enough to realistically live on and that costs me money. I would rather see employers required to pay a realistic wage, maybe even a scaled minimum based on ones educational accomplishments.

Supported by:

use of any illegal workers with fines so large they are actually punitive and automatic boycotts advertised (some how get the word out to customers that the company was caught using illegals and asking them to stop buying there)with the money from the fines going to support entitlement programs that American citizens are on because they lost jobs to illegals or HB-1 Visas

All HB-1 Visas contingent on an employer PROVING that they could not hire an American worker at at least the minimum wage for the required educational level. (or some other measure of market value like emplyment.com)

I actually read some AZZ*ole today who commented that Americans were too stuck on their nationality as a reason to be employed and that we need to quite whining and get the proper credentials. What an idiot. Many many Americans have the proper credentials...probably better suited that HB-1s who do not know our culture well.

Our gov't should be required to hire citizens first on American soil regardless of the nationality of the company in the same way that we all responded to "buy American" when we were asked a few decades ago.

if foreign companies don't like it we can simply nationalize them.


Oh that solves everything, let's just go totally socialist. But beware of what you ask, you may receive it.

First, H1-B is not the problem you portend it to be:


The current law limits to 65,000 the number of foreign nationals who may be issued a visa or otherwise provided H-1B status each fiscal year (FY). Laws exempt up to 20,000 foreign nationals holding a master’s or higher degree from U.S. universities from the cap on H-1B visas.


And we aren't talking minimum wage here. Most of these people have advanced degrees, most in the science, medical and engineering fields, except of course those 20,000 exempt because of master and doctorate degrees form US universities, like the young man from Brazil I hired that had was just completing his MBA from UM. A young man that of Japanese dependency that was fluent in Portuguese, Spanish and English with very little Japanese.

But I would have to agree with the AZZ*hole as you so eloquently labeled him. Americans has become a worthless society that seems to get worse with each passing year. Everybody seems to be entitled and are no longer caring about earning. Earning has become a dirty word.

But to the world our current path is rushing to complete: "To each by their abilities and to each by their needs." The mantra of the new world order, except with one new twist, those each that are in excess of needs are expendable.

no photo
Wed 05/21/14 08:03 PM


The Act applies to enterprises with employees who engage in interstate commerce, produce goods for interstate commerce, or handle, sell, or work on goods or materials that have been moved in or produced for interstate commerce. For most firms, a test of not less than $500,000 in annual dollar volume of business applies (i.e., the Act does not cover enterprises with less than this amount of business).


http://www.dol.gov/compliance/guide/minwage.htm

Now little business do you think mom and pop stores do? If you are opened 300 days of the year (1 day closed plus holidays) and do only $200 in volume a day (very low) how much volume is your business doing? The govermnet classifies a small business as anything making less than $7 million. So yea minimum wage might not hurt someone with no employees running a shop in their house, but if they have enough volume to pay rent for a store and workers they are most likely pushing over 500k volume.


Not really an issue. Each state has minimum wage laws that must meet (thanks 14th Amendment, cancelled 10 amendment) or exceed Federal regulations. No one is exempt from the minimum wage even the law boy if he is paid less and a lawyer convinces him to sue.

All the new federal law would do would be to force the states to upgrade their regulations except for Washington that already has $10.65.

no photo
Wed 05/21/14 08:12 PM



It doesn't matter even one bit what the number is. A higher number is arbitrary. Purchasing power is what matters. If less people are working because businesses can't afford the higher wages, then less is produced which means less for everyone no matter how you redistribute it.

If EVERYONE worked, even at 1 cent an hour, more wealth would be created and we could all buy more. Money is after all nothing but a representation of labor. If no one labors, doesn't matter if you have a $500 minimum wage.

Not suggesting that we have a 1 cent minimum wage, but not $16 per hour for flipping burgers either.


the problem with this premise is that the gov't inflates real pay with aide when people do not earn enough to realistically live on and that costs me money. I would rather see employers required to pay a realistic wage, maybe even a scaled minimum based on ones educational accomplishments.

Supported by:

use of any illegal workers with fines so large they are actually punitive and automatic boycotts advertised (some how get the word out to customers that the company was caught using illegals and asking them to stop buying there)with the money from the fines going to support entitlement programs that American citizens are on because they lost jobs to illegals or HB-1 Visas

All HB-1 Visas contingent on an employer PROVING that they could not hire an American worker at at least the minimum wage for the required educational level. (or some other measure of market value like emplyment.com)

I actually read some AZZ*ole today who commented that Americans were too stuck on their nationality as a reason to be employed and that we need to quite whining and get the proper credentials. What an idiot. Many many Americans have the proper credentials...probably better suited that HB-1s who do not know our culture well.

Our gov't should be required to hire citizens first on American soil regardless of the nationality of the company in the same way that we all responded to "buy American" when we were asked a few decades ago.

if foreign companies don't like it we can simply nationalize them.

yep,do the Venezuela-Jig!:laughing:


Can't happen here, can't nationalize your owners. Venezuela just took over the corporations before they could take over the country. But that didn't really matter, it was Chavez declaring he would sell oil to anybody for anything but dollars that really started the jig.

Monsanto has already bought and paid for the FDA and EPA:

The Amazing Revolving Door - Monsanto, FDA & EPA

no photo
Wed 05/21/14 09:12 PM

sigh,,,,


first, for government purposes, a small business is determined by the type of business, different types have different standards based upon either number of employers or revenue,, no BLANKET amount for all small business,,,

and


second a 'small business' is not the same as a 'mom and pop' business
depending upon industry a 'small business' can be netting millions

when I consider a 'mom and pop' store, I am thinking of the little consignment clothing store that ON A GOOD DAY makes 500 dollars in sale but most days is happy to pull in 200


all mom and pops are small business but not all small business is a mom and pop


as to your concern with rent and minimum wage.....

you can rent a space for as low as 500 per month for business space

at 200 per day that would STILL only be 60000 per year in sales

half a mill would be more like nearly 2000 a day in sales


I Have friends who own their own store, that would be a good/busy day for them,, and business has slow and busy days, not all or even most are gonna net a lot of sales EVERYDAY,,,,,especially considering what hours they stay open,,,,,

so IF I rented a space for 1400 a month and did have to pay 3 employees say 10 per hour to work 8 hours that's 240 per day or 72000 per year, plus the rent would be a total of 89000 per year out of that required 500000 in sales

still leaving over 400000


Total BS. There is not a single realistic statement anywhere in this.

First, just where did you come up with the lead statement on small business? Any clue? Let me help, start with Title 26, US code, it's defined very explicitly, as tax code.

And how does your little consignment store work? First, it's consignment which means someone else gets a cut for their ownership of the goods, normally at best case a 50/50 split. So let's say they are open 6 days a week and on average with good and bad days they average $300 a day, that would be $1800 in revenue with $900 in cost leaving a gross margin of $900.

Now let's say we accept your $500 a month for rent, that equates on a weekly basis of $115, now leaving $785. Now let's not forget the electric, water and sewage, lets just say $30 a week, and let's not forget about the insurance mandated by a landlord and his insurance company, another $25 a week and we have a net of $735 and we haven't even mentioned workers comp and unemployment nor those pesky local government bureaucrats wanting their cut. Still, that means a seemingly good earnings but is it really? Probably 12 hour days, 6 days a week and definitely not overtime, real earnings: $10.21 a hour.

But whoa don't go on any spending spree, here comes the IRS wanting 14.2% for FICA and Medicare, oh yes as self employed you pay the full boat, $104 and then federal income tax starting at 15%, another $110. And then you make way too much for subsidized medical, so even though we know it isn't really true, let's except the average cost of Odumbocare at $328 per month, that is still $75 leaving $446 take home pay.

And at $2000 a day with 3 employees, the expenses start going through the roof. And I have family and friends that run businesses in the $1 to $1.5 million in revenue. Their average salaries are little more than their best paid employee and at the end of the year their net after taxes are generally between 3 to 5 percent of revenue, not even doubling their salary.

So the picture is not the pretty scene you pretend exists. I would say more like never been there, never done that.

no photo
Wed 05/21/14 09:43 PM

Free?
Not for College or University!
Problem is,that many people really have no use for a College-or University-Degree,and it's simply a matter of prestige,and an expensive one at that!


Once upon a time, the Swiss were know for superb educational programs. Their universities were highly placed in the realm of education. But some papers that I have read of late, does not bode well for that reputation.

The US was taken over many years ago to turn out robots for industry. They were indoctrinated to be good little employees and to serve specialized functions, not great functions but sort of like the grease that keeps the machinery rolling.

Sort of like the British education system that I was introduced to back in the mid-seventies. The one that made one take a serious look at the US system and doubt it's benefits. But alas, that British system has gone the way of the American one, now just trains human robots for industry.

But here is one of the papers that I spoke of, have you seen this? Just what sphere of influence has it had on the Swiss education system?

A complex systems approach to education in Switzerland

I haven't gotten much past the part: "Issues to be Addressed", but then I have read a huge portion of Agenda 21 and will complete Agenda 21 first, seems that coming back to read the other document may be redundant.

Conrad_73's photo
Thu 05/22/14 12:35 AM


Free?
Not for College or University!
Problem is,that many people really have no use for a College-or University-Degree,and it's simply a matter of prestige,and an expensive one at that!


Once upon a time, the Swiss were know for superb educational programs. Their universities were highly placed in the realm of education. But some papers that I have read of late, does not bode well for that reputation.

The US was taken over many years ago to turn out robots for industry. They were indoctrinated to be good little employees and to serve specialized functions, not great functions but sort of like the grease that keeps the machinery rolling.

Sort of like the British education system that I was introduced to back in the mid-seventies. The one that made one take a serious look at the US system and doubt it's benefits. But alas, that British system has gone the way of the American one, now just trains human robots for industry.

But here is one of the papers that I spoke of, have you seen this? Just what sphere of influence has it had on the Swiss education system?

A complex systems approach to education in Switzerland

I haven't gotten much past the part: "Issues to be Addressed", but then I have read a huge portion of Agenda 21 and will complete Agenda 21 first, seems that coming back to read the other document may be redundant.
why not just post the Link,instead of making a fancy mess of it?

msharmony's photo
Thu 05/22/14 01:05 AM
Edited by msharmony on Thu 05/22/14 01:06 AM


sigh,,,,


first, for government purposes, a small business is determined by the type of business, different types have different standards based upon either number of employers or revenue,, no BLANKET amount for all small business,,,

and


second a 'small business' is not the same as a 'mom and pop' business
depending upon industry a 'small business' can be netting millions

when I consider a 'mom and pop' store, I am thinking of the little consignment clothing store that ON A GOOD DAY makes 500 dollars in sale but most days is happy to pull in 200


all mom and pops are small business but not all small business is a mom and pop


as to your concern with rent and minimum wage.....

you can rent a space for as low as 500 per month for business space

at 200 per day that would STILL only be 60000 per year in sales

half a mill would be more like nearly 2000 a day in sales


I Have friends who own their own store, that would be a good/busy day for them,, and business has slow and busy days, not all or even most are gonna net a lot of sales EVERYDAY,,,,,especially considering what hours they stay open,,,,,

so IF I rented a space for 1400 a month and did have to pay 3 employees say 10 per hour to work 8 hours that's 240 per day or 72000 per year, plus the rent would be a total of 89000 per year out of that required 500000 in sales

still leaving over 400000


Total BS. There is not a single realistic statement anywhere in this.

First, just where did you come up with the lead statement on small business? Any clue? Let me help, start with Title 26, US code, it's defined very explicitly, as tax code.

And how does your little consignment store work? First, it's consignment which means someone else gets a cut for their ownership of the goods, normally at best case a 50/50 split. So let's say they are open 6 days a week and on average with good and bad days they average $300 a day, that would be $1800 in revenue with $900 in cost leaving a gross margin of $900.

Now let's say we accept your $500 a month for rent, that equates on a weekly basis of $115, now leaving $785. Now let's not forget the electric, water and sewage, lets just say $30 a week, and let's not forget about the insurance mandated by a landlord and his insurance company, another $25 a week and we have a net of $735 and we haven't even mentioned workers comp and unemployment nor those pesky local government bureaucrats wanting their cut. Still, that means a seemingly good earnings but is it really? Probably 12 hour days, 6 days a week and definitely not overtime, real earnings: $10.21 a hour.

But whoa don't go on any spending spree, here comes the IRS wanting 14.2% for FICA and Medicare, oh yes as self employed you pay the full boat, $104 and then federal income tax starting at 15%, another $110. And then you make way too much for subsidized medical, so even though we know it isn't really true, let's except the average cost of Odumbocare at $328 per month, that is still $75 leaving $446 take home pay.

And at $2000 a day with 3 employees, the expenses start going through the roof. And I have family and friends that run businesses in the $1 to $1.5 million in revenue. Their average salaries are little more than their best paid employee and at the end of the year their net after taxes are generally between 3 to 5 percent of revenue, not even doubling their salary.

So the picture is not the pretty scene you pretend exists. I would say more like never been there, never done that.



the point was the min wage was only applicable for those making SALES of 500000 or more per year,,,,

there are different types of businesses that aren't all corporations,, which title 26 deals with,,,,


,,,,I have 'family' too who run businesses or were responsible for the finances of businesses netting hundreds of thousands or millions,, and they could still afford to pay people a living wage,,,,,


its called making a business plan that works,,,,,

isaac_dede's photo
Thu 05/22/14 09:19 AM


sigh,,,,


first, for government purposes, a small business is determined by the type of business, different types have different standards based upon either number of employers or revenue,, no BLANKET amount for all small business,,,

and


second a 'small business' is not the same as a 'mom and pop' business
depending upon industry a 'small business' can be netting millions

when I consider a 'mom and pop' store, I am thinking of the little consignment clothing store that ON A GOOD DAY makes 500 dollars in sale but most days is happy to pull in 200


all mom and pops are small business but not all small business is a mom and pop


as to your concern with rent and minimum wage.....

you can rent a space for as low as 500 per month for business space

at 200 per day that would STILL only be 60000 per year in sales

half a mill would be more like nearly 2000 a day in sales


I Have friends who own their own store, that would be a good/busy day for them,, and business has slow and busy days, not all or even most are gonna net a lot of sales EVERYDAY,,,,,especially considering what hours they stay open,,,,,

so IF I rented a space for 1400 a month and did have to pay 3 employees say 10 per hour to work 8 hours that's 240 per day or 72000 per year, plus the rent would be a total of 89000 per year out of that required 500000 in sales

still leaving over 400000


Total BS. There is not a single realistic statement anywhere in this.

First, just where did you come up with the lead statement on small business? Any clue? Let me help, start with Title 26, US code, it's defined very explicitly, as tax code.

And how does your little consignment store work? First, it's consignment which means someone else gets a cut for their ownership of the goods, normally at best case a 50/50 split. So let's say they are open 6 days a week and on average with good and bad days they average $300 a day, that would be $1800 in revenue with $900 in cost leaving a gross margin of $900.

Now let's say we accept your $500 a month for rent, that equates on a weekly basis of $115, now leaving $785. Now let's not forget the electric, water and sewage, lets just say $30 a week, and let's not forget about the insurance mandated by a landlord and his insurance company, another $25 a week and we have a net of $735 and we haven't even mentioned workers comp and unemployment nor those pesky local government bureaucrats wanting their cut. Still, that means a seemingly good earnings but is it really? Probably 12 hour days, 6 days a week and definitely not overtime, real earnings: $10.21 a hour.

But whoa don't go on any spending spree, here comes the IRS wanting 14.2% for FICA and Medicare, oh yes as self employed you pay the full boat, $104 and then federal income tax starting at 15%, another $110. And then you make way too much for subsidized medical, so even though we know it isn't really true, let's except the average cost of Odumbocare at $328 per month, that is still $75 leaving $446 take home pay.

And at $2000 a day with 3 employees, the expenses start going through the roof. And I have family and friends that run businesses in the $1 to $1.5 million in revenue. Their average salaries are little more than their best paid employee and at the end of the year their net after taxes are generally between 3 to 5 percent of revenue, not even doubling their salary.

So the picture is not the pretty scene you pretend exists. I would say more like never been there, never done that.

I would say the same about you, "never been there, never done that" but you are a very successful troll, i'll give you that.

Dodo_David's photo
Thu 05/22/14 10:19 AM



sigh,,,,


first, for government purposes, a small business is determined by the type of business, different types have different standards based upon either number of employers or revenue,, no BLANKET amount for all small business,,,

and


second a 'small business' is not the same as a 'mom and pop' business
depending upon industry a 'small business' can be netting millions

when I consider a 'mom and pop' store, I am thinking of the little consignment clothing store that ON A GOOD DAY makes 500 dollars in sale but most days is happy to pull in 200


all mom and pops are small business but not all small business is a mom and pop


as to your concern with rent and minimum wage.....

you can rent a space for as low as 500 per month for business space

at 200 per day that would STILL only be 60000 per year in sales

half a mill would be more like nearly 2000 a day in sales


I Have friends who own their own store, that would be a good/busy day for them,, and business has slow and busy days, not all or even most are gonna net a lot of sales EVERYDAY,,,,,especially considering what hours they stay open,,,,,

so IF I rented a space for 1400 a month and did have to pay 3 employees say 10 per hour to work 8 hours that's 240 per day or 72000 per year, plus the rent would be a total of 89000 per year out of that required 500000 in sales

still leaving over 400000


Total BS. There is not a single realistic statement anywhere in this.

First, just where did you come up with the lead statement on small business? Any clue? Let me help, start with Title 26, US code, it's defined very explicitly, as tax code.

And how does your little consignment store work? First, it's consignment which means someone else gets a cut for their ownership of the goods, normally at best case a 50/50 split. So let's say they are open 6 days a week and on average with good and bad days they average $300 a day, that would be $1800 in revenue with $900 in cost leaving a gross margin of $900.

Now let's say we accept your $500 a month for rent, that equates on a weekly basis of $115, now leaving $785. Now let's not forget the electric, water and sewage, lets just say $30 a week, and let's not forget about the insurance mandated by a landlord and his insurance company, another $25 a week and we have a net of $735 and we haven't even mentioned workers comp and unemployment nor those pesky local government bureaucrats wanting their cut. Still, that means a seemingly good earnings but is it really? Probably 12 hour days, 6 days a week and definitely not overtime, real earnings: $10.21 a hour.

But whoa don't go on any spending spree, here comes the IRS wanting 14.2% for FICA and Medicare, oh yes as self employed you pay the full boat, $104 and then federal income tax starting at 15%, another $110. And then you make way too much for subsidized medical, so even though we know it isn't really true, let's except the average cost of Odumbocare at $328 per month, that is still $75 leaving $446 take home pay.

And at $2000 a day with 3 employees, the expenses start going through the roof. And I have family and friends that run businesses in the $1 to $1.5 million in revenue. Their average salaries are little more than their best paid employee and at the end of the year their net after taxes are generally between 3 to 5 percent of revenue, not even doubling their salary.

So the picture is not the pretty scene you pretend exists. I would say more like never been there, never done that.

I would say the same about you, "never been there, never done that" but you are a very successful troll, i'll give you that.


isaac,

I realize that you are trying to fight ad hominem with ad hominem, but I wish that you wouldn't because doing so makes you look bad, and it doesn't really work.

Chazster's photo
Thu 05/22/14 10:55 AM



sigh,,,,


first, for government purposes, a small business is determined by the type of business, different types have different standards based upon either number of employers or revenue,, no BLANKET amount for all small business,,,

and


second a 'small business' is not the same as a 'mom and pop' business
depending upon industry a 'small business' can be netting millions

when I consider a 'mom and pop' store, I am thinking of the little consignment clothing store that ON A GOOD DAY makes 500 dollars in sale but most days is happy to pull in 200


all mom and pops are small business but not all small business is a mom and pop


as to your concern with rent and minimum wage.....

you can rent a space for as low as 500 per month for business space

at 200 per day that would STILL only be 60000 per year in sales

half a mill would be more like nearly 2000 a day in sales


I Have friends who own their own store, that would be a good/busy day for them,, and business has slow and busy days, not all or even most are gonna net a lot of sales EVERYDAY,,,,,especially considering what hours they stay open,,,,,

so IF I rented a space for 1400 a month and did have to pay 3 employees say 10 per hour to work 8 hours that's 240 per day or 72000 per year, plus the rent would be a total of 89000 per year out of that required 500000 in sales

still leaving over 400000


Total BS. There is not a single realistic statement anywhere in this.

First, just where did you come up with the lead statement on small business? Any clue? Let me help, start with Title 26, US code, it's defined very explicitly, as tax code.

And how does your little consignment store work? First, it's consignment which means someone else gets a cut for their ownership of the goods, normally at best case a 50/50 split. So let's say they are open 6 days a week and on average with good and bad days they average $300 a day, that would be $1800 in revenue with $900 in cost leaving a gross margin of $900.

Now let's say we accept your $500 a month for rent, that equates on a weekly basis of $115, now leaving $785. Now let's not forget the electric, water and sewage, lets just say $30 a week, and let's not forget about the insurance mandated by a landlord and his insurance company, another $25 a week and we have a net of $735 and we haven't even mentioned workers comp and unemployment nor those pesky local government bureaucrats wanting their cut. Still, that means a seemingly good earnings but is it really? Probably 12 hour days, 6 days a week and definitely not overtime, real earnings: $10.21 a hour.

But whoa don't go on any spending spree, here comes the IRS wanting 14.2% for FICA and Medicare, oh yes as self employed you pay the full boat, $104 and then federal income tax starting at 15%, another $110. And then you make way too much for subsidized medical, so even though we know it isn't really true, let's except the average cost of Odumbocare at $328 per month, that is still $75 leaving $446 take home pay.

And at $2000 a day with 3 employees, the expenses start going through the roof. And I have family and friends that run businesses in the $1 to $1.5 million in revenue. Their average salaries are little more than their best paid employee and at the end of the year their net after taxes are generally between 3 to 5 percent of revenue, not even doubling their salary.

So the picture is not the pretty scene you pretend exists. I would say more like never been there, never done that.



the point was the min wage was only applicable for those making SALES of 500000 or more per year,,,,

there are different types of businesses that aren't all corporations,, which title 26 deals with,,,,


,,,,I have 'family' too who run businesses or were responsible for the finances of businesses netting hundreds of thousands or millions,, and they could still afford to pay people a living wage,,,,,


its called making a business plan that works,,,,,

Well 500k in sales if they do no interstate commerce. If, however, they have a website where you can order stuff and they ship and and do sales out of state then they have to comply with federal minimum wage.

msharmony's photo
Thu 05/22/14 11:16 AM
this is true

I don't personally consider shops that are able to have a market that is beyond local to be 'mom and pop'

the stores I know don't have such websites except to advertise whats in their store when you come in,,,,,they cant take on the shipping costs for sending their products out,,,



isaac_dede's photo
Thu 05/22/14 11:24 AM




sigh,,,,


first, for government purposes, a small business is determined by the type of business, different types have different standards based upon either number of employers or revenue,, no BLANKET amount for all small business,,,

and


second a 'small business' is not the same as a 'mom and pop' business
depending upon industry a 'small business' can be netting millions

when I consider a 'mom and pop' store, I am thinking of the little consignment clothing store that ON A GOOD DAY makes 500 dollars in sale but most days is happy to pull in 200


all mom and pops are small business but not all small business is a mom and pop


as to your concern with rent and minimum wage.....

you can rent a space for as low as 500 per month for business space

at 200 per day that would STILL only be 60000 per year in sales

half a mill would be more like nearly 2000 a day in sales


I Have friends who own their own store, that would be a good/busy day for them,, and business has slow and busy days, not all or even most are gonna net a lot of sales EVERYDAY,,,,,especially considering what hours they stay open,,,,,

so IF I rented a space for 1400 a month and did have to pay 3 employees say 10 per hour to work 8 hours that's 240 per day or 72000 per year, plus the rent would be a total of 89000 per year out of that required 500000 in sales

still leaving over 400000


Total BS. There is not a single realistic statement anywhere in this.

First, just where did you come up with the lead statement on small business? Any clue? Let me help, start with Title 26, US code, it's defined very explicitly, as tax code.

And how does your little consignment store work? First, it's consignment which means someone else gets a cut for their ownership of the goods, normally at best case a 50/50 split. So let's say they are open 6 days a week and on average with good and bad days they average $300 a day, that would be $1800 in revenue with $900 in cost leaving a gross margin of $900.

Now let's say we accept your $500 a month for rent, that equates on a weekly basis of $115, now leaving $785. Now let's not forget the electric, water and sewage, lets just say $30 a week, and let's not forget about the insurance mandated by a landlord and his insurance company, another $25 a week and we have a net of $735 and we haven't even mentioned workers comp and unemployment nor those pesky local government bureaucrats wanting their cut. Still, that means a seemingly good earnings but is it really? Probably 12 hour days, 6 days a week and definitely not overtime, real earnings: $10.21 a hour.

But whoa don't go on any spending spree, here comes the IRS wanting 14.2% for FICA and Medicare, oh yes as self employed you pay the full boat, $104 and then federal income tax starting at 15%, another $110. And then you make way too much for subsidized medical, so even though we know it isn't really true, let's except the average cost of Odumbocare at $328 per month, that is still $75 leaving $446 take home pay.

And at $2000 a day with 3 employees, the expenses start going through the roof. And I have family and friends that run businesses in the $1 to $1.5 million in revenue. Their average salaries are little more than their best paid employee and at the end of the year their net after taxes are generally between 3 to 5 percent of revenue, not even doubling their salary.

So the picture is not the pretty scene you pretend exists. I would say more like never been there, never done that.

I would say the same about you, "never been there, never done that" but you are a very successful troll, i'll give you that.


isaac,

I realize that you are trying to fight ad hominem with ad hominem, but I wish that you wouldn't because doing so makes you look bad, and it doesn't really work.

I understand that, but if the person isn't who they claim to be, then any and all 'learned by experience' becomes an invalid source, Most 'sources' are from 'experience' but if that never existed then.....

And I don't mind making myself look bad, I am very comfortable in who I am, and in things that I have posted I know are from experiences that I can prove...

That really was my intent.

no photo
Thu 05/22/14 11:58 AM
Edited by AlienSleeperCell on Thu 05/22/14 12:10 PM


One can only say that if ya cant do the math and see what ones overhead is gonna be vs. what kind of profit is gonna be made than they have no place getting into business in the first place..Personally I think that coops will become the future..smile2

sonnylivori's photo
Thu 05/22/14 01:16 PM
most McD's are owned but individuals,Just the name is corporate.
And since when do the workers dictate how much they r2 get paid??
When I go for a job I find out how much they r willing to pay me, and that will determine if I want to work there r not.

Conrad_73's photo
Thu 05/22/14 01:54 PM


:laughing:

msharmony's photo
Thu 05/22/14 01:59 PM
supply and demand

cigarettes are addicting, I doubt even a rise in price reduces how much people smoke

money is necessary, employers need both employees and custmers to make money

paying employees competitive wages (wages which meet THEIR monetary need) makes sense so that people earn more and have more money to spend which in turn maintains the profits needed to pay the higher wages,,,etc,,etc,,,

Sojourning_Soul's photo
Fri 05/23/14 07:56 AM
Edited by Sojourning_Soul on Fri 05/23/14 07:59 AM

supply and demand

cigarettes are addicting, I doubt even a rise in price reduces how much people smoke

money is necessary, employers need both employees and custmers to make money

paying employees competitive wages (wages which meet THEIR monetary need) makes sense so that people earn more and have more money to spend which in turn maintains the profits needed to pay the higher wages,,,etc,,etc,,,


Higher wages means less jobs for the unskilled/under educated workers as corporations reduce employees and benefits to compensate, and small business (the backbone of America) suffers as large corporations write the regulations, lobbying congress to eliminate free market competition by those small businesses unable to compete.

Thinking higher wages does anything to improve the status of workers in poverty is as wise as throwing gas on a house fire expecting it to stop the blaze! Why buy a row boat when you can own a yacht for the same price?

Supply and demand my a$$!

What idiocy! These fools will demand themselves out of the jobs and incomes they now have! slaphead