sturg33
I
Bump
The Biden Presidency
- Thread starter The Tariff King
- Start date
Bump
nsacpi
Expects Yuge Games
no Jared no peace
goldfly
<B>if my thought dreams could be seen</B>
More like support terrorism get terrorism
sturg33
I
Just curious but what specifically are you happiest about
McCann'sCans
Gwinnett Bound
Where are you getting $17.50 from? We are in agreement that almost no business can afford to pay low-skilled workers $25/hour, but I'm not sure why that is part of the discussion.
Let's use fast food as the example since a busboy might fall under tipped wages which is a whole different issue. If I make even just $10/hour working 40 hours per week at a Wendy's where I live in Colorado, I'd be looking at $20,800 in gross income minus $850 for federal taxes, $1,591 for FICA, and another $390 in state tax. That leaves me with about 18,000 in income in addition to my benefits, or nearly a 20% raise over what I could get by taking the $300 weekly checks. That would be an easy decision for most workers at that income level.
I own a business and I have no problem paying well above minimum wage plus benefits for my employees- it's not apples to apples because I'm hiring more skilled labor than your average fast-food worker, but the point stands: Any company that has a decent business model- which includes, for example, all fast-food restaurants- should be able to pay their workers more than what they would make on unemployment (and more than what our federal minimum wage currently is). If a premise of your business being profitable is that you can only pay an employee $7.50/hour and you want to avoid offering them benefits, then again the issue is with your business having terrible margins, not with the people who don't want to work for you.
sturg33
I
Bc the average weekly unemployment payments are $700, not $300 as you keep saying. ($400 standard plus $300 covid relief)
Part time workers rarely are able to find a job for more than 32 hours per week due to insurance requirements of the business.
$700 / 32 hours = $21.87 per hour to stay at home
sturg33
I
If we divided up Walmart CEO pay of $22M and distributed it evenly to all their employees... each employee can make an additional $9 per year
I know math ain't your thing so, on brand for you
tululush
New member
Not only am I beyond happy with the current administration, I also take great pleasure in seeing Thethe and Sturg lose their collective minds every day with their dozen+ daily posts whining and bitching lol. Thanks for continuing to make my day. Keep up the great work!
sturg33
I
sturg33
I
Yeah I guess I got thrown off by the statwment:
"People at the top make less money so people at the bottom can have a liveable wage"
Glad to know you didn't actually mean that completely stupid point
McCann'sCans
Gwinnett Bound
Maybe I'm not as good at math as you thought. Thanks for pointing that out.
In my view, though, the point still stands: regardless of what the national average is, a CO Wendy's worker making minimum wage would get $174 in a typical unemployment check (60% of the average weekly pay over the last two quarters) plus the $300 for total annual pay of $24,648. You'd have to pay them between $14-15/hour to beat that after taxes, which seems entirely reasonable to me. Again, the bigger issue here is that the average wage in the L&H industry comes out to about $20,000 after taxes. I think- as most voters nationally do- that we should pay people more than that, and I hope that companies start doing so when the government stops.
Here is the bigger point beyond the math though: the evidence doesn't support that expanded UI is keeping workers at home.
- When there is a labor shortage, you expect to see rapid wage growth as employers compete for talent. Wage acceleration is definitely happening in the leisure and hospitality industry, but that is just a return to normalcy and average wages haven't yet returned to pre-pandemic rates. If we start seeing wages accelerate past pre-pandemic averages, then I'll join you in being concerned.
- That wage acceleration is very much focused on the L&H sector, which doesn't have a particularly high correlation to wages in other industries as we saw when wages dropped there much faster than in other sectors in 2020.
- The L&H industry still saw more job growth than any other sector by a significant margin, and again most of this is just because it was so far behind other sectors to begin with.
- Low-wage industries saw much higher job growth than higher-wage sectors in April, which isn't what you would expect to see if UI was truly preventing poor people from working.
- The bigger issues in the labor market seem to be two things: 1) People are still afraid to go to work, which is why you see a very firm correlation between improving unemployment rates and improving vaccination rates and 2) Schools are still closed- which is something I imagine we agree on is a shame- which is preventing mothers from getting back into the workforce.
If we could get more people vaccinated and get more schools open, then I imagine you would see any concerns about labor shortages dissipate.
nsacpi
Expects Yuge Games
How does that work if applied to $13.5 billion of profits.
tululush
New member
Lol your reading comprehension skills are on par with all of your other deficiencies in life. My dude, you literally word vomit all over this forum countless times a day. All anyone has to do is visit any of the threads on the locker room side of this message board and see you whine and lose your mind daily. It’s glorious to see how much you are triggered by the world around us. Your perception is far from reality. Please, carry on. It’s free entertainment for anyone who reads the boards.
sturg33
I
An addition $5k per year per employee.
But then investors would stop investing and that would probably lead to people being let go
sturg33
I
Shhh shhh Pocahontas