***Official Political Discussion Thread***

[biggie62]

McDonald's labor costs are well over $1B and a $15 minimum wage would probably increase those costs by hundreds of millions. Corporate executives make far too much money but the excess is taken from stockholders, not the workers

I think we all agree there's a wage level that optimizes the earnings of those subject to the minimum wage. I just don't think we know what that is, or that we should be looking at the minimum wage as an anti-poverty policy

there are better ways at attempting to increase the well-being of those at the bottom end of the income distribution. direct cash assistance is better, the earned income tax credit (basically the same thing as direct cash assistance) is better, wage supports are better

with that said i haven't seen anything to suggest that $15 is the wrong number; it's certainly closer to the right number than $7

There are two issues I think need to be addressed though and one is a thing I have an issue with that you mentioned.

Earned income tax credit. Why do we as the tax payer have to provide this to individuals because a company doesn’t want to pay them a fair wage? We are subsidizing these corporations. Sure itkeeps their costs down and increases stockvalue but when 80% of the stock is owned by 20% of the population it only helps the well off period. We need to to stop doing this.

The second piece is the way corporation allocate hours to people. Fast food places and Walmart are highly guilty of this but they don’t provide people with steady hours and try to keep them under 30 hours per week so they don’t have to provide them with health insurance and other benefits. The lack of steady and consistent hours doesn’t allow individuals to plan their week and day. Something that hurts working parents and people who have other responsibilities. The other piece is again subsidizing corporations at the expense of the worker and then the taxpayer. Some of these workers are then on Medicaid because they don’t make enough to afford healthcare and make so little they qualify for state insurance. Many of these people would like to be full time and would like steady hours, but it’s against the corporations best interest.

We are literally providing corporate welfare and it’s only benefiting the well off. I’m in thetop 20% so yes I do benefit from it. But would I take a 1.5% smaller return on my 401k so I people can live a better life and we would have less wasteful spending?

 

[Belgium]

 

[dmbrhs]

Self checkout is great for buying organic produce at non-organic prices.

 

[mplsdunk]

Idk about where you guys live but every job is hiring here, self checkout and all.

nobody is trying to work at McDonald’s. Not for 7 an hour or 15.

 

[had pants]

 

[keko jones]

Always funny how Trumpster always talk about President Bidennin a negative light. Always creepy Joe. He likes kids etc, but have absolutely no problem with Trump degrading woman, forcing himself against them, paying for sex and fantasizing about his daughter.

Now they talking about rolex. LoL

 

[dacomeup]

I grant that there isn't much evidence to suggest that $15 is too high but i do think it's worse to err on the high side than the low side

Why is that?

 

[keko jones]

Yeah, I wasn’t saying my statement as a matter of fact btw, it was just my POV and how I would handle it as a fast food executive. I think the minimum wage debate is interesting because of how much it will shift mindsets which ties back to your statement - it might change what Americans value. Maybe certain jobs won’t look as bad anymore? Perhaps things that are beneath folks in the past are all of a sudden on their level?

I don’t know if it was discussed in here before and maybe our Chief Economist, @RustyShackleford ,can comment on it but I do wonder if there will be ripple effects knowing that a certain % of the country now will significantly increased wages. It would absolutely defeat the purpose but this is America so I would not be surprised.

I def think higher minimum wage standards were overdue. With that said, my problem comes when you have individuals that went that extra mile to get a degree and higher and are starting jobs at 20 to 25 bucks because they lack experience.

I think the entire wages process is skewed.

There are federal employees with Masters which qualify you for GS 07/09 making 45 to 55k annually. It's ridiculous!

 

[blastercombo]

There are two issues I think need to be addressed though and one is a thing I have an issue with that you mentioned.

Earned income tax credit. Why do we as the tax payer have to provide this to individuals because a company doesn’t want to pay them a fair wage? We are subsidizing these corporations. Sure itkeeps their costs down and increases stockvalue but when 80% of the stock is owned by 20% of the population it only helps the well off period. We need to to stop doing this.

The second piece is the way corporation allocate hours to people. Fast food places and Walmart are highly guilty of this but they don’t provide people with steady hours and try to keep them under 30 hours per week so they don’t have to provide them with health insurance and other benefits. The lack of steady and consistent hours doesn’t allow individuals to plan their week and day. Something that hurts working parents and people who have other responsibilities. The other piece is again subsidizing corporations at the expense of the worker and then the taxpayer. Some of these workers are then on Medicaid because they don’t make enough to afford healthcare and make so little they qualify for state insurance. Many of these people would like to be full time and would like steady hours, but it’s against the corporations best interest.

We are literally providing corporate welfare and it’s only benefiting the well off. I’m in thetop 20% so yes I do benefit from it. But would I take a 1.5% smaller return on my 401k so I people can live a better life and we would have less wasteful spending?

BINGO.

1. hire less people but give more hours/benefits. Stop cutting people off at 36-37hrs a week to avoid giving benefits

2. these companies get so many tax dedications I don’t want to hear **** about cost of labor. Not to mention the bailouts they get. Yet the employees lose 20% of their check to the feds.

these companies are double dipping on cheap pay and dodging taxes. For the 100th time, 15 dollars and hour isn’t breaking anyone at the top

 

[blastercombo]

Self checkout is great for buying organic produce at non-organic prices.

No doubt. I seem to buy i ton of “banana and lemons” now

 

[storm2006]

that's true too. That's why apps like Grubhub exploded. People at first were like "$5 delivery fee!? If I call the pizzeria and order it's free!!" Now people are like "**** that. I don't wanna talk to the dude that works at the pizzeria. I'll pay the $5"

Dont you still pay the delivery fee even if you call? I remember the sticking point for me when I was in Philly and using those apps heavy was that I could order/call and get it delivered for a fee....or walk a few blocks and back for regular price. I generally chose delivery, not because I’m antisocial but because I’m lazy

View attachment 2736842

Self checkout is great for buying organic produce at non-organic prices.

Man, I just picked up fruit. I don’t know what it is when I’m ring it up. Honest mistake.....

Spoiler

 

[keko jones]

BTW, how you guys feel about this new directive “Preventing and Combating Discrimination on the Basis of Gender Identity or Sexual Orientation"

 

[had pants]

 

[biggie62]

Btw something I want to give you guys a heads up. You will see companies start announcing large bonuses being paid to employees and execs this year. Let me give y’all a fair warning. These bonuses are solely for tax planning purposes and not because the corporation out of the goodness of their hearts waqnte to pay people more. I’ve had tax planning calls with many of these banks . You accrue the bonus in 2020 and then reverse it andget the deduction in 2021 when they raise rates.

 

[mplsdunk]

I def think higher minimum wage standards was overdue. With that said, my problem comes when you have individuals that went that extra mile to get a degree and higher and only starting at jobs that pay 20 to 25 bucks because lack of experience.

I think the entire wages process is skewed.

If you see some federal employees with Masters and are only GS 07/09 making 45 to 55k. It's ridiculous.

college is obsolete for the most part unless you’re going into a STEM career.

college priced themselves out of the game.

Nothing wrong with college but it’s not going to automatically get you a high paying job. That’s just the school selling you on a dream.

wages as a whole are in the trash can for most jobs I feel like. Trades are booming but most people aren’t about that life. Medical is good but again most people aren’t about that life and cry after 8 hours of work.

 

[blastercombo]

college is obsolete for the most part unless you’re going into a STEM career.

college priced themselves out of the game.

Nothing wrong with college but it’s not going to automatically get you a high paying job. That’s just the school selling you on a dream.

wages as a whole are in the trash can for most jobs I feel like. Trades are booming but most people aren’t about that life. Medical is good but again most people aren’t about that life and cry after 8 hours of work.

I disagree with that statement. College done wrong is a waste of time. You do it right and you’re set before you even leave. You should have **** mapped out before you graduate. If not, good luck. Every one of your professors is a ticket into what you want to do. If you don’t utilize that then you’re falling in line

 

[HIM]

Y’all out here stealing groceries?

I hope you thieves don’t make these stores get rid of self checkout.

 

[mplsdunk]

I disagree with that statement. College done wrong is a waste of time. You do it right and you’re set before you even leave. You should have **** mapped out before you graduate. If not, good luck. Every one of your professors is a ticket into what you want to do. If you don’t utilize that then you’re falling in line

well yeah, you go through the motions of college and don’t network you’re ****ed.

its always about who you know in life.

I’m just saying a degree isn’t a golden ticket. Like bro was saying a lot of these federal jobs pay is laughable.

I also don’t think you should automatically get more money because you have a masters.

 

[Upptempo]

Dont you still pay the delivery fee even if you call? I remember the sticking point for me when I was in Philly and using those apps heavy was that I could order/call and get it delivered for a fee....or walk a few blocks and back for regular price. I generally chose delivery, not because I’m antisocial but because I’m lazy

Depends on the place but some spots don't charge you if you order over like $10-20 of stuff and order directly from them. Something like Uber eats you're paying Uber to grab it, and apps like Grubhub charge the restaurant a fee too most times so they'd rather you have them deliver over an app that will take like 10% or whatever their kickback is per order

 

[dacomeup]

How is this a real debate?

 

[dacomeup]

Btw something I want to give you guys a heads up. You will see companies start announcing large bonuses being paid to employees and execs this year. Let me give y’all a fair warning. These bonuses are solely for tax planning purposes and not because the corporation out of the goodness of their hearts waqnte to pay people more. I’ve had tax planning calls with many of these banks . You accrue the bonus in 2020 and then reverse it andget the deduction in 2021 when they raise rates.

As a M&A lawyer, damn near every business decision that Companies make is for tax purposes (partly facetious but srsly).

 

[blastercombo]

Y’all out here stealing groceries?

I hope you thieves don’t make these stores get rid of self checkout.

I don’t steal out of pure honesty in me, but if I make a mistake I don’t care. I didn’t go to checkout school

 

[mplsdunk]

Any company offering a hiring bonus is probably trash as well.

 

[mplsdunk]

I don’t steal out of pure honesty in me, but if I make a mistake I don’t care. I didn’t go to checkout school

don’t trip. It’s your employees discount since you work there now...

 

[wallyhopp]

I'm confused. Is it a federal minimum wage increase they're proposing, or a wage increase for federal workers? I've seen both mentioned.