This afternoon I had a conversation with a man that has worked for over 30 years in a Union. He has a good retirement and during dinner said, They should raise the minimum wage to 15.00 an hour, all these businesses can pay that from all those monster profits they make. Oh....... I should have kept my mouth shut and gone home but I didnt. I said, What about the cost of everything we pay for? He came back with, That wont change, the businesses can all afford it. Oh...... I should have kept my mouth shut but I didnt....I tried to explain that every business is built from each piece and each piece has to make a profit for that large business to see a profit. If everyone is making 15.00 per hour then everything required to make the product that business sells is going to go up in cost. Add that to the increase in wages and the cost of the product has to be higher... Example a hamburger costing 1.99 is now 2.99.. The cost has to be passed down. All of this withstanding I said, I bet you didnt know that your employer has to match your federal taxes and your Social Security payment. Thats not true he shouted. Not since they came out with 401 Ks Thats a retirement fund I replied, It doesnt have anything to do with your employer having to pay for the privilege of employing you. He said, You just dont get it I said, No, I dont think you get it, the cost of everything goes up any time a variable changes, thats just basic business. He said, It doesnt matter, they can afford it. I went home....... If you believe there is some magic cloud in the sky filled with money then maybe you dont think a cost change like wages will change the price of everything. If youve ever run a business, large or small, you know every variable changes the profit margin... There must be a profit or there isnt a business.. If a man is in business and doesnt make a profit then why should he employ anyone? No business, no job, hello soup line.... Theres a reason we have entry level jobs, weve all had one at some time or another, its the bottom of the ladder and the reason we climb..... If we have nothing to aspire to... Why bother?
Posted on: Thu, 04 Dec 2014 23:34:51 +0000
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