Dave Ramsey Is Going To Get Hate for This
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Best way to get paid above minimum wage is to constantly better yourself. Quit waiting for a free handout. 🤦
You're so right! People need to think about what they can do to improve their own financial situation !
Exactly. There is no shame in working at McDonalds. If that is the route you want to go, work your way up to management and maybe even open your own franchise.
No one is advocating to get something for free. When Grocery stores can charge extra for groceries, they should be able to pay their employees more. As can all companies, but they prefer to give their profits to the shareholders.
When people get paid so little the qualify for assistance from the taxpayers, we are effectively subsidizing the employers
The Walmart billionaires practically say, we will pay them poverty wages and the government will foot the difference, that way they can increase their profits.
@@glen4326most grocery store workers' jobs can be automated and eliminated. Most require zero skills.
That’s why America needs an economist or entrepreneur as President and NOT A POLITICIAN.
THANK GOD SOMEONE SAID IT!!!!!! thats why the swamp tried to kill him. Hes not a slimy politician . NOt perfect but way better than schoomer, polluted and Obummer
Economists and entrepreneurs can be very intelligent and key to new policy. It is the politicians who work thru the political system to get bills passed and enact that legislation. It's a negotiation process that politicians are better suited for.
@@cindycabrales902entrepreneurs negotiate to win, politicians negotiate to keep the party big dogs happy. I'll take an entrepreneur any day
@@cindycabrales902 wow the person i @ tted liked my comment. A win for the internet. I respect u now
…or a FAILED businessman with a weird obsession with crowd size.” ✋|-|✋
Thomas Sowell said the real minimum wage is always zero, meaning if an employee has to be paid more than the value they can produce, that job goes away.
Unless its a govt job💀 believe I dont do shit and make bank... its GREAT
@@firefly9838haha, bingo, and many other jobs just like it.
@firefly9838 what do you do?
@@firefly9838 Government is not a business. If it were, it would have been bankrupt and gone already.
Additionally, your admission proves the wastefulness of our tax dollars.
Thomas Sowel also said slavery benefited black people lol
This content should be required in our school system BEFORE YOU CAN GRADUATE.
It was for me in 2003. Not sure about now though.
I fully agree, and also before you are allowed to Vote!
They want you dumb so you vote for dumb politicians that want to impose higher taxes, and price controls.
@@johnkast7987 let's look at the information. 1% of the working population are making minimum wage. But somehow raising the minimum wage will raise costs on everything. In the same segment he said raising minimum wage wouldn't change 99% if all wages. But it would raise costs on everything? Sure by a few pennies or a dollar maybe. To use his bread analogy. Someone putting bread on the shelf making minimum wage. They are stocking more then one loaf an hour. So divide their new wage by the number of bread loaves they stock. You are talking pennies per loaf to double their income.
Before you can vote!
"Say you were an idiot, say you were a member of Congress, but I repeat myself" Mark Twain
In Capitalism the bread waits in line to be bought
In Socialism the consumers wait in line to buy the bread
And you don't think there is a Continuum? If you don't.. You're wrong.
Well said
No, but according to Dave, this has nothing to do with liberalism vs conservativism. If you raise the minimum wage, prices will increase accordingly. If that's true, people will earn more and spend more, so I fail to see the issue. Then he says that only 1% earn the minimum wage. So again, where's the issue of raising it, if it has such minimal impact?
I'll tell you what the issue is: Dave's "math" forgets that the increase in wages is passed only partially to consumers, if anything. So, it will eat out of the corporations' profits. That's why it's a left-wing policy and why Dave doesn't like it. Nothing wrong with being a conservative, just be honest about it.
@@lgrrflots of low wage workers also get fired when the minimum wage increases, so it hurts a lot of them too
@@dnllamb That's an argument and a valid concern. But let me tell you that there are multiple experiments that have shown that it's not necessarily true. In my country (Portugal) minimum wage increased a lot in the past decade, and unemployment decreased in the same period. An economy is a complex system with several variables, and things need to be evaluated comprehensively.
When Walmart raised wages, they also cut hours, so absolutely nobody profited from the higher wages.
absolutely! also: even if they didn't, they always keep their employees part time to slash all benefits they would have been obligated to give them if they were full time.
Walmart wins .....they get the positive PR for raising their wages. Most people are too stupid to look past the headline
This is simply a lie.
@@powerbottomboi5255 not at the Walmart in Ava, Missouri. We knew several people there, very well, and this is exactly what Walmart did to them.
Self-scan increased to compensate
Minimum wage is for high school kids who have no financial obligations to gain experience working.
Yes! And these people bitching about how they can’t support themselves/raise a family on minimum wage wage perhaps need to “find the job they’re wired to do”, get some skills training to better their prospects. Yes the govt printing millions of dollars is the biggest factor in inflation; however raising the min wage That quickly also puts people right back in the same boat . . Make more, but prices double! What No One talks about is how the middle-income earners are being squeezed out . . Min wage may rise but the basis for say factory workers is Not going up proportionately!! So they have even Less buying power! Think about it!
Nothing but a bunch right wing people willing to blame the victims,
@@joygarrett8397 or how about dont get pregnant if you cant raise a family on 10 bucks and hour.
@@Dooguylouder for the fertile m0r0ns in the back that we all end up paying to raise their kids.
thank you. someone said it !
So many people do not understand this. They vote on promises, not understanding.
Understand what? There’s widespread understanding amongst economists that raising minimum wage does not cause inflation. This is simply two millionaires looking after their own best interest.
Others vote base on emotions not policies.
@@iamkesha.I'm glad I'm voting against Trump
$7.25/hour is such an abomination.
Dave saying that we shouldn't mandate an increase in the federal minimum (5:34) because only 1.1% of people are in that situation is such a complete dismissal of the fact that people are in terrible situation like that. Here's a different perspective: If it only affects that few people, then think about how much better we could make people's lives without a substatial increase in prices because only a few people at any company would require raises!
All this would do is prevent bad actors from taking advantage of those who don't understand their value in the economy.
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You can reach him by searching this names 👇
Never laugh at someone for actually researching candidates and policies. Politicians literally got caught lying so much they coined the term "alternate facts."
They all lie all the time, every last one of them.
Not all politicians. The term "alternative facts" was invented by the Trump administration.
I research every single candidate and policy before I vote. Takes at least an hour sitting in front of my computer, searching, and reading. But well worth it - feels satisfying when some of the initiatives I support get passed.
I suppose it would be good to research candidates if you’re new to this country. Otherwise you’d wonder if the guy has been paying attention to things.
Probably he’s checking what candidates will give him free stuff. Which Will turn out to be very costly, very inefficient and hard to come by..
The amount of lying that Biden and Harris have been doing in just the last 4 weeks alone, much less the last 3.5 years, is staggering.
If only 1% of workers make minimum wage then why would raising it cause apocalyptic cost increases? Could it be companies use it as an excuse to raise prices?
FEDERAL minimum wage. not state.
A higher minimum is not needed. Businesses still need to have the option to pay very young, low skill workers real entry level wages. These are not meant to be "living wage" jobs. And companies that arbitrarily raise prices, lose out to the companies that don't. Look at Starbucks loss of business, and lower stock price, this year.
Many union contracts are based on minimum wage plus something
Or minimum wage times a multiplier
So lots of wages go up when minimum wage is increased.
Yup when it increases I get an increase and I make wall above it. So it changes nothing most low paying jobs are for no skill and teens
@@deborahwalsh30 So is your argument that there should be no minimum wage? The federal minimum wage hasn't been increased since 2009. In 2009 average rent prices were $875 or 120 hours of work at minimum wage. That is tough but maybe with a partner or roommates you can scrape by. In 2024 it is $1,521 or 210 hours of work at minimum wage. That means you would have to work 45 hours a week (including 1.5x OT pay) to pay for the average rent. That is before paying for ANYTHING else, including any form of taxes or food. 56% of minimum wage works are over the age of 25, it isn't just a bunch of teenagers working for gas and party money.
I was born in Cuba, happy and blessed American today. You are 100% correct.
The problem is CEOs and upper management have been paying themselves infinitely more than they have in the past. It’s not just minimum wage, it’s not paying living wages.
The thing is you aren’t really helping those on the lower end. If you increase minimum wages it will cost more to deliver goods and services which means prices will go up in relation to that. So while yes the folks in those jobs are making more money, all the stuff they are buying costs more. Possibly rent etc has increased as well. So they aren’t really being helped except perhaps in the short term.
The other thing that would help is if the politicians in dc didn’t keep printing money like there’s no tomorrow which makes money worth less if assets aren’t there to back up the value.
Minimum wage jobs have never been designed to be careers, nor be able to live on.
@@cj8714I’m not rich, though it would be nice lol, but I will say if you work hard for the money, it’s not a sin to be rich or successful. That’s part of the American dream. Now if you do evil things that’s one thing, but people can be poor and be evil also.
Yes especially in the last few years we have seen it. Happens every time we start to go into a slow down . Limited government and limited burden on companies will help level the playing field and allow smaller businesses to pick up the employees and pay them more and treat them better and these large corp will either adapt of fall away. When government props up these to big to fail companies this is what you get.
❤❤❤
Once inflation happens, costs don't go down. We're stuck, now.
Good thing my wages go up also.
“Corporations don’t pay taxes”. Exactly Dave. The fact that I pay more in tax than Walmart is trash.
Meaning that if a corporations taxes increase, they increase their prices to the consumer to cover it. It's not that they don't pay taxes, they just increase costs.
Tell me you do not know what you are talking about without telling me you do not know what you are talking about.
@@carlilaplant4736but tax breaks doesn't mean they pass it on either
Here's another coronary for ya: Landlords don't pay property tax. They factor that in when deciding what rent to charge. It's part of the overhead (operating cost), which leads to the cost of goods sold, whether it's Wal-Mart selling you a roll of paper towels or your landlord charging you rent (and yes, that's "sold"----you are buying housing every month, for whatever length of time your lease specifies).
Walmart produces jobs, you produce nothing to make society better. Sorry dude.
As someone that’s ran my own business for 12 years, this is basic facts. You can’t argue this and if you do, you look foolish trying.
There's no good answer. Increasing minimum wage and leaving it as it is are equally as bad imo 😅
At the very least increasing minimum wage to match inflation across any given year should be standard.
Most of these policy-makers have never managed their own business and couldn't properly manage a single Baskin-Robbins. Yet, somehow, they know what's best for the entire country. 🤷
@nickstark8479 Vast majority of the ones making Minium wage are high school workers.
3 people have more wealth then half of our population. The end.
@@tristan2332 Still doesn't mean they deserve to be making less - in purchase power - than people from 2009.
The problem I have with increasing minimum wages, along with all of the mentioned problems, is that if you worked hard for years to move up and earn 15 dollars an hour, and all of a sudden entry level workers make 15 dollars an hour, then I now am making minimum wage without increase!
Not to mention the fact that we don't WANT our young people satisfied at working a minimum wage job!
If you work for an absolutely crap employer, sure that is what would happen. For most people making close to the minimum wage, when minimum goes up, so does your pay, though not necessarily by the same absolute amount. The employer was paying you more than minimum for your work because the work you did was more valuable to them than what they'd get from Joe Shmoe off the street, if the floor for Joe Shmoe wages go up, then your work that is more valuable should increase as well. When I was a teenager working at a grocery store making more than the minimum wage as a cashier, the minimum went up, and so did my pay to keep it a noticeable step above what the baggers and shelf stockers earned.
@@whorhaydelfuego7190and if it happens the way you say then everything remains the same.. if everybody's wages go up then everything is exactly the same as before the increased wages
@@whorhaydelfuego7190 Thats the thing with raising minimum wage...its going to hurt someone. You raise it to 15...everyone 15 and under say yes I got a raise...but those make 16, 17, 18...all they did was come closer to the minimum. You can say the employers should give an up in $$$ to those employees makign 16,17,18...but at what point do you stop 19? 25? where you draw the line...those people get hurt. Then prices go up for groceries, gas, products...anything. The people who got to 15 are pretty much in the same spot...while everyone else just move closer to the poverty line or further down it. People don't understand basic math or economics in this country...its getting scary.
Crabs in a bucket syndrome
Here's some economic reality for you Ken and Dave: prices have gone up regardless of wages and corporations are raking in billions
That is a FACT. I'm not a "bleeding heart" and I earn far, far more than the minimum wage but I have eyes and I can see.
Agreed. That was a very narrow lens into the factors of the scenario they outlined.
Y’all never wanna mention the federal reserve and fractional reserve banking scheme for some reason.
Anyone who still believes that the democrat party is even a real option anymore is a complete fool. All parties, except democrat, have at least some positives to offer. But believe ing Kamala Harris is actually a reasonable option... is beyond reason.
@@DanielBice because they have no clue about it.
My GF is a nurse and her salary has gone DOWN sense covid because the hospital said they're in debt and cutting any way they can. This year they turn around and buy 3 hospitals. They also took on the blue print like all corps. do and over work/be under staffed constantly. Her department is making the hospital a mint too. Her manager shared there numbers.
somehow there's always money for top executives to get massive bonuses, regardless of whether the company is doing well or not. But god forbid the person "putting bread on the shelf" gets paid more.
Exactly, the just skip over the fact that ceo s make like 1300 percent yes 1300 percent more than they were back in like 1978
If the person putting the bread on the shelf wants to earn more money they should find a different job. We get paid for our skills and talents.
People act like executives getting paid exorbitant amounts has any effect on what the lower levels get paid. The CEO of Walmart gets roughly $20M/year which is a shit ton, but Walmart has 2M employees. Even if he worked for free, every employee is getting $10 extra per year. It's literally a meaningless and stupid argument.
Literally anyone can put bread on the shelf. Not just anyone can successfully run a multi-billion dollar company. See how that works? Now with that said, I do believe many CEOs are paid absolutely ridiculous amounts. In any case, our system works better than any other on Earth.
@@podawe8051what’s stupid is a CEO taking home $20 million a year while the government subsidizes the vast majority of their workers’ pay
One of the most frequent arguments I hear for raising the minimum wage is that "a large percentage of minimum wage earners are the primary or sole breadwinners for their family." Well, THERE'S the problem! Minimum wage jobs were never meant to sustain a family. They were meant for entry level workers to get their feet wet in the job market. If you want to have a home and family, you must have the caliber of employment that comes with a salary that will allow you to provide a decent standard of living. A minimum wage job won't cut it, and never will, no matter how many times you raise it!
My dear beloved sibling in Christ, if everyone were to be blessed with enough grace and insight and temperance then we would not have the need for social security or anything else. However, we live in a fallen world and are fallen creatures. Many of us stumble and were born into bad circumstances that simply don't give one the insights and intellect and grace to accept and work within Gods energies such as yourself. There but the grace of God go I , sadly you are your brother's keeper, and must help. A full time job DID once allow someone to raise a family. We can find a way
You need to go back and read some history, the minimum wage was absolutely intended to be a living wage. It would be nice if there were enough jobs so that only teenagers had to take minimum wage jobs, but that is sadly not the state of our economy. That situation is largely caused by systemic problems, like the tax system that accelerates wealth concentration.
@@whorhaydelfuego7190this !
@whorhaydelfuego7190 what's a living wage? Companies pay for value and productivity, Not because you live expensively. Teens are making bank. Making $18 to $25 an hr while living at home, buying video games, buying teslas, going on vacations.
You have been listening to right-wing messaging.
The minimum wage was established as a living wage per FDR, the POTUS who signed the bill.
Sorry Dave, raising minimum wage is not the reason we have the kind of inflation we are experiencing. It is because the printing of trillions of dollars. People are so happy to receive free money until we all have to pay for it.
You can put "student loan bailouts" into that category.
Socialism is great until you run out of other peoples money. 😅😅😅
Sorry, they haven’t raised it in a long time, so your point is moot 😂
@@indigostaraz Famous words from Margaret Thatcher.
No it’s not. It’s because the price of everything along the chain has gone up. The distributor has to pay more so the retailer has to charge more.
This is exactly why top down economics doesn't work because theoretically companies and the CEOs are the one who are supposed to take the pay cut which would still give them millions of dollars but no they pass the cost on to the customer. We need policy in place that taxes the businesses and individuals making absurd amounts of money and to prevent them from price gouging people. The top 1% make twice as much as the bottom 99% it's absurd
You don’t need policies. People need to stop buying the products. You need one vehicle, one home/apartment, healthy food, clothing with no design labels, water, heat, possibly air conditioning.
@@CMBBmc-jd6urwe are monkeys and have been trained to buy buy buy buy. And things are built to last 4 yrs now which makes it worse.
The government is the biggest price gouger of them all
@CMBBmc-jd6ur exactly. I don’t understand the expectation of government policies to reign in the prices of non necessities. If you don’t like the price, don’t buy it. It’s that simple
If all CEO pay was eliminated, the emplyees will maybe get a dollar or two more on their paycheck.
As someone who studied economics raising the cost of raising minimum wage will only directly be passed onto the consumer in a monopoly. Businesses competing within an industry will price themselves as competitively as possible which means they might dip into their profit margins
Minimum wage is a great thing - corporations should focus on paying their CEOs less. It s not a viable business if it is built on exploitation
The only result will be those on minimum wage jobs will not be on jobs at all for long!
Great point. Why don’t you start a business and do just that??? 🤔
Yet we cool with paying CEOs $100M a year and it’s no big deal. Ok ok.
Kinda funny we think putting pressure to bring up wages will cause crazy price increases and inflation.. but wait, inflation has been crazy and prices have gone up so much without wages keeping up!? What gives!
Corporate greed
wages have increased
@@clarice4426 Corporate greed just started three years ago? Grow up.
@@lot2196not much
@@clarice4426Whenever someone says “corporate greed “ this means they have NO clue understanding of how businesses works.
work minimum wage when you are young, or working a part time job
Then you get a REAL job.
Minimum wage isnt fully the problem. Relying on minimum wage is a problem of personal choice.
Great logic, but how many people have zero drive. Look at all the boomers with no savings, now they want the government to take care of them.
Many people enter and leave the workplace often because of moves, family obligations etc etc.
Not everybody has a CAREER.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@Frank-d6b However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments
@@JonathanLizRoland Oh please I’d love that. Thanks!
@@Frank-d6b Clementina Abate Russo is her name
Lookup with her name on the webpage.
This argument only works in a competitive free market. When 11 companies own everything you buy in the country, they're not pricing things based on operating costs. They are making profit hand over fist.
Exactly. To have no minimum wages in this economy would be disastrous.
@@JustinAdair-uo8vh No it wouldn't. If minimum wage meant anything, why do these greedy companies not pay people less? They literally are paying Walmart employees like $15-20/hr when they could get by with $7.25/hr. No greedy corporation would do that. The reason they pay more is because the market determines the wages. There aren't enough people willing to work for less.
Facts
Does anyone believe that Reverend Dave would ever support anything that favors common working slobs?
Yup I agree. I used to be a "no minimum wage" guy but once you learn about corporate mergers and how there's actually very few companies in certain industries thus very little competition I've changed my mind.
The minimum raise hasnt gone up, yet prices have already skyrocketed, and companies are reporting record profits. And if 1% of wages can impact everything, maybe that 1% deserves more
You're simply a lost cause
💯
poor people suck.
You are delusional.
@@charlesincharge3404 How are they a lost cause? Minimum wage hasn't gone up since 2009, yet prices have gone up exponentially since then. I make well over minimum wage, but I'd love to see it increased. I'm a teacher, and I know plenty of parents working in fast food that literally can't afford to live and feed their children. Of course, you're argument might be "then don't have children." If all the people that can't afford kids didn't have kids, the next generation would be have of the current one with every subsequent generation. That hurts the economy much more than raising the minimum wage.
I would just say vote for whoever will spend less... Their spending is your taxes.
I don't want minimum wage to triple overnight, but the fact it hasn't been changed at all in 15 years is stupid.
Trump spent a lot while in office last time . Let’s give someone new a chance
Should be changed permanently to zero.
@@semosancus5506 Government spending or minimum wage?
@@semosancus5506 why would you want to make 0 ?
Historically democrats spend less. Even with covid taken out of the equation, trump out spent Joe.
If minimum wage goes up, the people making above minimum wage, don’t see any increase in pay… But they’re buying power goes down every single time. It’s a backdoor pay cut.
Minimum wage jobs are meant to be entry level jobs. You aren’t supposed to keep them for life. They aren’t meant to support a family. You’re supposed to pursue education/training or go into business to advance yourself and earn more. Come on.
But people don’t always have opportunities.
Why shouldn’t people be paid a wage that’s comparable to the cost of living?!
These companies are just greedy and increase the cost of products.
@@peterswiech5390 Yes, corporations and shareholders are greedy. And if we raise the minimum wage, all costs, across the board, will rise to eat up that increase in the minimum wage. Economics 101, as Dave said. Plan to NOT work a minimum wage job, or plan to be impoverished for the rest of your life. Those are the choices.
@@Mrs.TJTaylor 4 million people work those jobs and there should be a higher wage in general.
We can come together as a society, boycott, protest and not tolerate this.
I mean CMON! You americans started a whole revolution based on tax. What now? Youre all soft?!
Yes of course everyone should be above average. Wow what a nice easy solution.
@@MrSteeDoo EVERYONE can strive to better themselves. Or plan on working two jobs. As Dave said, raising the minimum wage only raises prices across the board.
Either it’s terrible & it’ll ruin everything OR “it don’t change anything” but it can’t be both, Dave. 🙄
It was found that a 10% minimum wage hike translates into a 0.36% increase in the prices of grocery products. This magnitude is consistent with a full pass-through of cost increases into consumer prices. Price adjustments occur mostly in the three months following the passage of minimum wage legislation rather than after implementation, suggesting that pricing of groceries is forward-looking. Point is .. Companies look for any excuse to raise prices.
@HacksawJimThuggin Well then a 100% minimum wage hike would translate to only 3.6% grocery price increase. So let's double the minimum wage.
Unfortunately then all the grocery stores would go bankrupt.
@@Fred2-123 No, as we can all see they just raise prices to cover any costs.
Most any worker already makes more than double the Federal min wage of $7.25. Do we have shortages of food now?
You said it. There's no doubt increasing the overall wages will cause *some* degree of inflation, but the people who think moderate minimum wage increases will result in low paid workers getting no net increase in income due to that inflation have never honestly looked at the data and what percentage of costs in the economy are their labor. Resulting inflation will be a small fraction VS how much more those affected are paid, especially as most of them already make well over it.
Criticize minimum wage if you want, just the "it'll cause huge inflation and even out for people who get raises!" people are being ridiculous.
@@lartrak When California recently increased the minimum wage for fast food workers, tens of thousands FF workers lost their jobs, and lots of stores closed.
So it didn't even "even out" for the workers, they got the true minimum wage. Zero.
Only 1% of Americans make minimum wage. Stop
I do wonder why the conversation of manager/executive/CEO/shareholder pay is not included in this conversation. Can you imagine how cheap things would be if CEO’s made $10 or even $20/hr??
I agree. worker wages have stagnated with CEO wages have increased 100-fold. If minimum wage is raised, will some small mom and pop places struggle? Sure. But I remember in my state the minimum wage was raised a little, and a few weeks after it was, the local AMC theatre chain raised ticket prices and put signs on all the windows basically saying hey, sorry, you're paying more because we're forced to pay the employees more. God forbid the CEO of AMC take a pay cut and maybe buy only one yacht or Lambo that year instead of three.
Corporate profits have been skyrocketing. Inflation due to supply limits was true four years ago. Not two years ago.
What's the incentive for being an CEO and all the responsibilities that come with it if they were paid the same wage as an entry level worker (who has a far easier job in comparison)?
Because they add value because of their knowledge, experience and ability to grow a business. If you aren’t capable of reaching those heights, you should do some research on what they actually do instead of assuming they aren’t worth their pay because you don’t qualify for the job.
Looked through the comments to see if anyone else recognized the glaring flaw in their argument.
I'm a well schooled Aust school of economics subscriber, but I can't let them get away with this gaslighting.
The third leg of the stool is profits/exec pay etc.
Comparing it grouping "small business" like a 3 man company with Walmart is so disingenuous it is almost a vicious lie it's so misleading.
When the minimum wage went up in Ontario Canada, the business owners were up in arms with fear. Guess what happened? It helped the economy. Why? The people that were paid more- spent more. The money went right back into the economy. It wasn't sent to offshore bank accounts. It wasn't saved in cookie jars. It went for groceries, gas, clothes, ect. We now have the minimum wage geared to inflation. Each October it goes up to match inflation.
pfffft. yea, the canuck economy, envy of absolutely NO1 ...
Exactly! And we had min wage bumps every year for decades. That means the wage was going up even in 2020-2021 when inflation was nearly 0% and it went up in 2022-2023 when inflation spiked.
@@rvog6584 2nd best GDP growth from pandemic to now after US. Keep operating on vibes not facts
@@rvog6584free healthcare, get over yourself.
@@Bees-knees99 yea, hows that workin out w/ wait times. (??!!)
Oh c'mon. Corporate greed and stock buybacks make up 60% of our inflation. Prices NEVER go down. It's crazy to think lowering taxes on corporations is going to lower our costs.
People falsely assume that rasing minimum wage will always make prices go up. Here is the issue, Corporations don’t operate on the absolute minimum margins. They operate on maximum margins. When wages go up, prices don’t need to also go up if the company is still selling the product for a profit. Usually the price will only go up if it will maximize profits.
Example of corporate greed, instead of corporations just accepting they will make less profits they pass it on to us.
This
they actually add 10% and then pass it on! As they should!! Let the people go hungry, they deserve it!
Stop buying their products.
Thats actually how its always been. If corporations were taxed, you would pay double. They pay tax on profits. Has nothing to do with greed. The corporation takes care of supply chain management for you!! how America works
Corporations are in the game to make money, not be charities. If there is no profit, there's no point.
Tax cuts for companies don’t trickle down. It’s BS. They use to buy back stocks.
There have been studies on this. The company is just a pass through for money. When taxes are raised on corporations, three groups pay roughly the same percentage of the tax: consumers pay a third, employees pay a third, and investors pay a third.
Taxes are paid by people as they are the ones that invest time and capital. So the government just takes money from people in a new way that demonizes corporations due to ignorance from the general populace.
The US debt is $35 trillion. Unfounded liabilities like social security and Medicare/medicaid cost another $70 trillion over ten years. Our national GDP is around $30 trillion. The people in charge have proven they are not trustworthy with money. I would rather set it on fire than to be used by our federal government. At least that way I wouldn’t be lied to about what it will be used for.
Explain all the bonuses and pay increases in 2018 after the tax cuts passed
Employers pay whatever they have to (within reason) for employees. If the company makes more profit they can afford to pay employees higher wages. If employers make less money, they have to cut wages. Common sense. And higher costs equals higher prices. Again common sense.
@@Chet_24 Explain wages out pacing inflation after the tax cuts and the bottom quintile wages outpacing the top quintile for the first time in decades.
@@ADAMBUFFOLINO12 History proves you wrong
Or even worse. That bread company hires an illegal immigrant and the bread is still going to cost 2X as much.
your paying tax because the corporation takes care of supply chain management. They pay the taxes on everything to get the product to you. would you like to pay the driver that drove it to store, the farmer that grew it. i dont think so!! the corporations get to write that off, so you can have cheaper products. the Communist option you might not like
And …. that illegal sends their money back home to another country so that economy benefits not the US economy.
They probably hire illegals because Americans don't want to do the work, our own children don't want to get their hands dirty so someone has to do it!
Lots of bad information here but let's start at 3:25 of this video. Consumer prices do not go down just because the government gives tax cuts to corporations. In 2017, the Trump administration reduced the corporate tax rate from 35 to 21 percent. Does anyone remember seeing prices fall after that tax cut? The fact is that in a growing economy, prices are downwardly ridged. It takes a severe recession or depression to move prices downward across the board. Corporations traditionally take those tax windfalls and do stock buybacks, increase dividends to shareholders and pay enormous additional bonuses to their CEOs. Cutting prices on the products consumers buy from them just doesn't happen.
We must be in a recession. Because prices of eggs, milk and gas in my town has dropped dramatically
Wrong. Capitalism dictates If the %of tax goes down there is always one or two business that will hand that back to the consumer to help edge the market and pick up sales. Then the rest will follow. Now you speak of corporatism where gov props up business who then incentivize bad behavior because they are protected by gov and that un levels the playing field like we see today. Then of course politicians get their pockets lined.
Reduce government is the answer.
@@drob762 Ok. Name some companies that lowered their prices in response to the 2017 tax cuts. I'm talking pre pandemic, the two plus years before 2020. Some companies are lowering prices now, in 2024, in response to the lowered demand caused by interest rate hikes, not because they got a new tax cut recently.
@@panther7739 sure.
UFP industries
Home Depot
Westinghouse
Kia Vehicles
GM actually held steady for 3 years before Covid
GASOLINE
All steel manufactures even while they were building pipeline in Colorado
And if there wasn’t corporatism with massive government, there could’ve been a lot more startup small companies to compete with these larger companies and drive the prices down even further
Completely disagree!
When my business pays lower taxes and profitable I expand and higher more people.
Also, big companies always find was around this and that is why they move facilities offshore. Fing liberals creat nothing but want to take from the ones that creat jobs.
Please move to either Canada or Mexico.
I'm not an "educated" person, but I know that businesses do NOT pay taxes. They pay business expenses. They pass the tax to the consumer. High fuel prices for the Retail sector are passed to the consumer. Really, the only ones that are really at the bottom of the ladder are production Farmers. Here's a fact: when farmers are doing well, everyone is is usually doing well. 👍👍Dave!
If percent of people on minimum wage is so minimal at 1%, then presumably impact on prices is minimal. One could also say reducing taxes on corporations doesn’t reduce prices, it increases profits.
True. Haha! They always want it both ways. If paying more causes increases in the cost to the consumer or failure of the business, how do you explain executive pay increasing almost 300% and record profits?
Without Minimum wage corporate greed will prey harder on employees, 100% unleashed capitalism is a disaster
Has to be balanced between capitalism and socialism
The best way to beat corporations is completely unregulated capitalism. Corporations are slow to react and set in their ways. An unregulated small business can outmaneuver them if there isn't government interference saving the corps.
@@kleindropperexactly! It's the government that has corrupted the capitalist system.
History would disagree with you.
@@Watch4signs i guess your history sucked or u lived in a fantasy land
Ken is wrong and economists, in general, do NOT agree with him. The cost of a product isn't determined by how much the retail employees make. It's determined by how much consumers are willing to pay for that product. Inflation has been rising despite minimum wage staying the same. So saying minimum wage is causing prices to go up is a total fabrication.
Then explain why CA's increased minimum wage cost 10K fast food workers to lose their jobs. Of course increasing labor costs causes people to lose their jobs. If you can't understand that employees are a cost burden to a company, then you should not pretend to understand economics.
@@karenclark266 Is there a shortage of fast food establishments in CA?
How come a Big Mac Meal costs the same in LA as it does in Dallas?
Why have corporate profits gone through the roof? Hasn’t trickle down been proven to be a fallacy? Why does Walmart do food drives for their employees during the holidays and why are so many Walmart employees on food stamps?
That is their business model .The whole idea is part time, low wage for no skill work. What business pays 50/hr to empty garbage cans......none
Why don't you support small business instead?
@@sanniepstein4835 why assume I don’t? The only way I support Walmart is through my tax dollars paying for food stamps because they won’t pay their employees livable wages
Which corporations have profits going through the roof?
@@rebeccalindley153 all grocery stores, all types of businesses in delivery especially Amazon, ups, and so on. Lots of online business during Covid, and streaming services like Disney+. Even restaurants have started giving less food for more money, like McDonald’s and chipotle. (Thousands of examples but I just named the ones in recent media due to lawsuits of monopoly practices and illegally not paying employees enough). Dave is speaking theory, reality is: they’d pay these people nothing if they could and those same people working 40 hours and are too stuck in poverty to have time for a college education or job due to health issues, kids, mental health issues and so on. I know people like this and it breaks my heart to see Americans like this. Just cause you’re not smart doesn’t mean you shouldn’t get to eat or live a bit above poverty. Minimum wage would be $24 if it had stuck to inflation right now, just let that sink in.
It's funny that they think if you lower the tax in big business those same business will lower their prices in goods and services they will just charge the same or more so in the end everyone loses except the owner / investors that already have money to burn and the devide gets bigger 😂😂
Yeah...remember the last big tax breaks and all the COVID bailouts? What did the businesses do with all that money? Did they lower prices? No...they used the money for stock buybacks so they could increase dividends for the shareholders.
@grimm516 Yes! That's why the price of gas never goes down. Gas stations never lower the pump price.
Oh, wait. The price of gas DOES go down. It goes up and down.
I actually laughed when they said that. That’s a fantasy world they live in, if they think that any type of tax break or savings from a business would be passed along to consumers. Dave would never lower the prices of all his products if he one year had to pay less in taxes. I mean really,
@@mle011 Says a person who doesn't know how the world works. Every business sets their prices as high as they can.
@@Fred2-123 and that has nothing to do with taxes and everything to do with the barrel price of crude oil. There's laws that prevent excessive markup on gasoline.
Covid was a first hand experience of communism and yet people still think that’s better than capitalism. Thank you for breaking down economics.
Minimum wage wouldn't have needed to increase so fast if it had kept up the previous several decades.
Also taxes on corporate profits are paid from profits. If company does not have enough money to pay increased salaries then it doesn't have profit to pay tax from. If tax increase impacts a company after a minimum wage increase then that company did afford that. Just not always willing to tane that money down from owner instead of passing it down to consumer.
Your thinking about large corporations. I ran a restaurant chain for a long time so I'll pick on that.
McDonalds makes billions. The truth is they can afford to take a hit. There major problem is that in order to take the hit they would need to re negotiate there franchise agreements with all owners of 13.5k stores. Which could be a lengthy process depending on how there contracts are worded. Most individual restaurants including McDonald only makes about 10-20% profit.
My main restaurant made about 10% off of 700k. That's 70k per year of profit after all expenses including my salary. I had 20-25 employees roughly full time. If I gave all that profit to pay my employees more. It's maybe $1. It's likely less. Unemployment insurance. Social security. All sorts of costs associated with raises increase. I have no choice but to substantially increase prices.
My point is you people always think of punishing big business. But the actual consequences are to your neighbors. Big business doesn't care. Your neighbor who owns an auto repair shop. That's who you actually hurt.
@@pdxmusl1510 The question remains as to how small business existed when the minimum wage was a living wave in the 50s.
@FMCrab you mean when the country had 44.9% of our current population? It’s called “supply and demand” and a significantly higher population favors major corporations and pricing out small businesses
Here in the apparently mythical land of Australia... we have 'minimum award rates' for all sorts of different jobs. This means there is a "minimum legal wage" for someone serving alcohol, verses a doctor, verses a waitress, verses school teacher. Also includes all the legal requirements for leave (holiday leave - 4 weeks, sick leave, domestic violence leave - so if someone is having to flee their house, go to court). So much of the stuff Americans say "can't be done"... we do it. If your business can't afford to pay it's workers fairly, it's not a viable business.
Im sick of the largest companies subsidizing their work force with food stamps and Medicare. A massive fine should be levied if your employee qualifies for federal assistance.
So you want the government to dictate what is a livable wage to corporations a private business? Or how about employees go work somewhere else to make a higher wage. Working at Walmart is not supposed to be a career. If you love Socialism so much why dont you go to Cuba or Venezuela if you love Socialism
are you concerned that CA might be empty soon? LOL
It's not inflation when corporations continue to break record profits year after year. Those profits are sent straight to the shareholders and CEO's, they don't trickle down to the average person.
Kroger's net profit margin is LOWER now than it was in 2018. Walmarts net profit margin is the same as it was in 2017.
No hate Dave, no hate. But I wish Dave would devote more airtime to discussing the Republican Party’s nominee hard core stance on TARIFFS and what it really is…..a tax that we have to pay! Tariffs=Tax!
I think Ken is the only one that gets it. The others I feel are so far removed from daily life for average folks
Woke up, got out a bed, dragged a comb across my head.
Made da bus, seconds flat...
Bald shaming Dave??
@@DarrenMossman Not at all. Dave looks great.
You've got great taste in music sir
@@JustinCase780 He out grew his hair ;)
“You would cut taxes on the little man” = LOL… the little man does NOT pay taxes. Check the numbers. The lowest incomes do not pay income taxes, they get it all back.
Like Warren Buffet said he pays a lower percentage than his secretary. He pays a higher dollar amount obviously.
Get it all back plus more. Best financial move I ever made was to start my own business and lower my taxable income. W2 middle class workers are getting hosed. I think Dave is probably referring to the middle class employees as the little man.
Yeah.. I kinda took that more to income levels above that. But technically yes...
The little man is the middle class.... Not the people on the poverty line that get all their taxes back
@@cur244 Because he does not earn his money as wages. If his secretary did the same thing, she would not be paying those high taxes either. That's your government at work.
Basic economics says that CEOs/executives will pay themselves as much as they can and the employees as little as they can get away with.
When the idea of $15 an hour minimum wage was brought up many years ago, a friend of mine owns a fence company and they were paying $14 an hour and I asked damn if they raise minimum wage to $15 what are you gonna pay these guys “they’ll get a $1 raise”
They will pay them whatever it takes to keep them as employees.
Pretty weird to laugh at someone for researching who to vote for.
"People who love communism are people who havent travelled!!!" NO TRUER WORDS EVER!!!
90% of dems don’t want communism. Just like 90% of republicans don’t want a white ethnostate
@@DelboydunnoThat's what you get with Kamela.
I find that the people who think this is the greatest place in the whole wide world are usually the people who haven't left the small town they were born in.
Also, are young people who are still dependent on their parents or wealthy people who do not share their net worth equally while crying about income inequality.
@@brianparrett114 I have been in a foreign country, and America is still better than the rest of the world
When was the last time that cutting taxes resulted in lowered prices? It just increases profits and pads the pockets of the very rich.
Mr. Ramsey and other gentleman, you are both absolutely right! If anyone has doubts about it, do your own research and look at states that are failing due to this madness (a prime example is California).
Ok but... People are not disciplined. 45% of people of people over the age of 55 have absolutely no money saved for retirement and 25% have less then $200,000 saved. That means 65% of people are not capable of managing their money properly and these are people who lived during a time where you could buy a house for twice the price of one person's salary. Now we live in a world where a home costs 3x the price of 2 people's salaries and these people were raised by the aforementioned group.
Here in California we have the highest minimum wage a cheeseburger is now 12 bucks. The customer always gets hurt in this case, prices go up. Thank you
I’m in Alabama and a cheeseburger is still $12. Nothing to do with minimum wage.
@lanemp8499 Not at fast food it isn't.
Born and raised in SF, now live in San Jose..............where do you guys buy your cheeseburgers?? Make them at home for a better cheeseburger. 🙂
Get a cheeseburger at In N Out. Don't do business at high priced businesses. Actually In N Out pays some of the highest wages company wide. How do they do it and still stay in business?
Yeah and I’m gettin tired of it go vote for trump
Just one thing the “expert” here missed, if taxes and costs are reduced on a corporation those savings are very rarely passed onto the consumer, historically all the corporation will do is see it as a means to gain more profits and pass it onto the folks who the corporation serves….the shareholder….it will mean either stock buy backs or higher dividends. The corporation will only reduce prices if the market will not bare it, want proof? When the supply chain issues were resolved did the big retailers reduce prices in the store? The only time Target and Walmart reduced costs on some goods was after the DOJ threatened to investigate into price gouging it wasn’t out of the goodness of their hearts
Yes but you know what does bring down their prices?? COMPETITION... Which capitalism provides.
@@Violet._.PhoeniX it doesn’t, you ever heard of too big to fail? In addition, many of these big name retailers destroyed the ability of small businesses to make a come up. Often they are able to run at margins that small businesses can’t come anywhere close to due to economies of scale. Even if the small business has a good idea and does well it’s in the bigger corporation’s best interest to buy them out before they become true competitors.
@@Violet._.PhoeniX as an idea you are right, that’s how it’s SUPPOSED to work…In America it’s a dream at this point, again there’s plenty of historical precedent to back up what I’m talking about
@@london651 that becomes irrelevant when the only alternative is socialism/Communism
@@Violet._.PhoeniX and that becomes irrelevant when what the democrats keep proposing is not full socialism or my God communism (those are not close to being the same thing btw although trump keeps acting like it), that’s a fallacy that comes around every four years whenever conservatives want to scare folks into voting for them. They’ve been pushing that nonsense literally as long as I’ve been alive and no democrat has ever proposed for it. Just for the wealthy to pay their fair share, and corporations (who apparently are people in the eyes of the Supreme Court) contribute something towards the country that made them
Raising the minimum wage is a tax on the middle class. When places started paying $20 an hour, instead of $10 an hour I guarantee you that people making $75k a year didn’t get a pay bump to $150k.
Percentages don't mean much.
Greed causes exorbitant prices. I was a business major and yes I understand economics. When corporations make exorbitant salaries and profits without caring about its workers or labor force we end up with oligarchs. Such large inequities in wipes out the middle class. Corporations are not PEOPLE. Workers would like a livable wage. Corporations and its shareholders can be extremely profitable without totally disregarding the worker. There can be a win- win solution.
Apparently businesses just found out they could raise prices as high as they want. They should have figured that out years ago! Smh
General Mills just paid a $300 million dividend to investors, bought back $150 million in stocks to enrich execs and investors, and paid its CEO $16 Million. It makes $2.1 billion a year in profit. It is raising prices on cereal by 20%, and blaming inflation.
"General Mills just paid a $300 million dividend to investors"
You mean the people that voluntarily gave them money with the LEGAL EXPECTATION that they will get a return on their money.
Do you also get mad that your bank pays you interest? Because it's the same concept.
"It is raising prices on cereal by 20%, and blaming inflation."
Yeah? Because you think the supplies, utilities, taxes, mortgage, rents, and fuel is free? Not to mention business loans and interest rates. Grain farmers also have higher expenses and they charge more for the raw ingredients to make the cereal.
"and paid its CEO $16 Million."
So? You take that salary and divided it evenly between all 35,000 employees, you get a ONE -TIME payment of 457.14, and that's it.
Walmart has 7 billionaires (the Walton family has $340 Billion ). It's so kind of them to raise their employee's minimum wages so they don't have to use government foodstamps.
They got rich providing products at the lowest price point ever. Last year Walmart sold $650 BILLION in product. Their net income was $11.5 billion. So less then 2%. How many billions did they save consumers? People just want to hate on the rich - don't even THINK.
@@jimdale3188 about 70-80% of Walmart's products have been made in China. No doubt the communists appreciate Walmart's support. They also put a lot of small local mom & pop shops out of business.
Easy answer, Vote for Trump!
You sound jealous. Go start a competitive company to Walmart, pay your employees fantastic wages and wonderful benefits. I’m sure you will destroy Walmart and provide cheaper products to consumers.
Thank you for trying to educate the voters!!
Both the business owner and the workers are idiots. If a business can’t afford to pay employees a reasonable wage, you shouldn’t be in business. Underpaying employees is not “profit”. The workers are idiots for accepting 22 cents an hour for their labor. If someone offers you a bad deal, you're to blame for accepting it.
If the government stops creating expensive regulations, businesses can pay more. Government regulation compliance takes up 8-13% of every university's budget. It takes up more money for agriculture, chemical manufacturing, engineering, house building, etc. Cancel the regulations, then there's more money to pay employees. The business owner is the last to get paid.
If only 1% are getting the minimum, that would also be an argument that the effect wouldnt be that big to increase it.
Dave, the cost of products is not determined by the cost of retailing them. The cost is determined by what the market will support.
Yes in a truly competitive economy businesses would be struggling to stay alive because they HAVE TO run lean operations.
grocery stores have a small profit margin, the politician claims shes going to control the prices because the stores are greedy...HOW? it will put them out of business
When we buy groceries in Colorado, prices are kinda high. Ok, higher salaries here, makes sense.
Used to be a big difference compared with New Mexico. Now when we visit, prices are the same, even in low income areas. For some the struggle is real. I don't like the unfairness.
She didn't say she was going to control prices.
@@MrSteeDoo when the government gets involved , they would determine if a price hike is "price gouging" and cap what they could charge...that is price controls, and has been tried before and ended in disaster.
@@dmb3428 So the government should never look into the activity of any market? LOL
“Technically” federal minimum wage should be about $23 per hour according to the math of inflation….
You are paid your worth, in capitalistic society; minimum wage should be zero.
Why? What should a trained welder make? How about someone who spent 40 years in an industry? You give a high-school kid working at Backyard Burger $12 an hour and he can make good money working weekends. He lives with mom and dad, drives a used car to and from AND he's learning about how real life works. Sounds like a win-win to me!
@@rhondaa5191 Because it was the equivalent purchasing power with previous generations
@@OtisFlint So, we need to make it, "fair"? Um, we could do a LOT with, "fair". First off, stop taxing Social Security retirement payments. Secondly, if student loans need to be forgiven, allow the universities that sold B.S. curriculums like "gender-studies" to forgive them. Leave the taxpayer OUT of it. Third, stop illegal immigration. Fourth, stop rewarding people mindlessly breeding with no thought to how they will pay for raising those children. Oh, we could have a very LONG conversation about being, "fair".
Why do so many companies pay more than the current minimum wage? Couldn't they save billions if they cut everyone's salaries?
Government sucks
So do corporations that lobby government and buy them
@@HOLDXSTEELGive an example.
@@jamiemcgill67 Do your own research. Look up "revolving door politics". It's not hard.
@unclebenny imagine blaming a Corp because you can't get outta bed and earn more.
@@lolwtnick4362 imagine being so far up companies butts you can’t see the bigger picture
I never imagined Dave to have to "dumb it down" to this point for people to understand. God Bless you!
I live in NC and I don’t know anyone who WORKS for NC for minimum wage now. No one will or can work for 7.25 an hour. So the minimum wage is really non existent.
It has been found that the wage-price elasticity of demand of increasing wages and how they affect prices to be E = 0.036. What this means is that a 10% minimum wage hike translates into a 0.36% increase in the prices at a restaurant (inelastic). If I'm making $10 per hour and get a 50% increase in pay, my pay would be $15. The $6 Big Mac would now cost $6.11. Maybe Ken and Dave should have taken Econ II and not stopped at Econ I. Inflation could occur, under certain condition, but you'll have to wait to take my Econ III course to find out. I'm not giving that information out for free.
Why do people not understand basic economics???!!!!
Was with you up until you said cutting their taxes would bring costs down. I can totally see a board room of folks saying “well, they’re already buying it at that price, so let’s just pocket the extra.” Unless there’s some other competitive pressure, I don’t see this being reflexive that way.
Right. Taxes have gone down before, you know what didn't go down, prices. And you know what sure as shit didn't go up, wages.
Exactly, there is no way businesses wouldn’t line their pockets with any extra profit they make. I cannot believe Dave and Ken actually said that.
Until one company decides they want to be more competitive, then the rest will follow. Just look at what's happening with fast food right now. They are all competing for the best value meal and lowering prices. 🤷
the minimum wage person putting the bread on the shelves can not afford to buy it
I started with a minimum wage job and it gave me incentive to learn more to earn more. I worked for an airline that had difficulty hiring because the McDonalds paid more and required less work and training.
NO ONE I repeat NO ONE on the left says they are going to raise taxes on small businesses. 🤦♀️
They are a tax happy party
It’s still the same thing .. once they force businesses to pay $20/hr for minimum wage, they’d have to lay off people and increase their prices causing inflation
Balance the budget? Sarah Huckabee just asked for billions of my tax dollars to help her state.
Oh my god get Coleman off the air. I’m so sick of listening to him give corporations and the right in general a sloppy B J live on air every day. Everything I hear out of him is trying to pay people less!!
Worked at a place over covid. They couldn’t get employees so they raised the pay. The people who stuck it out for them all the sudden was getting paid less than someone who wasn’t gonna be there for 2 weeks.
Their gratitude to the people who stayed was a tshirt.
Sounds like paradise valley in Fairfield,ca😊
One societal issue they don't discuss is that raising minimum wage reduces employment opportunities for unskilled labor, which prevents them from building skills/experience that would qualify them for higher wages.
Dave Ramsey needs to stop interrupting his other speaker..
...maybe...when their name is on the building...
Minimum wage jobs are meant to be a "get by " job until you invest in yourself by getting an education or skill. Much like money, if you don't save and invest you will be sorry later.
That is true but there is not enough high paying jobs available out there to sustain everyone even if they are skilled at something yet prices have always gone up while wages have never surpassed the minimum standard of living. Something will have to give and it will ultimately be our economic system. It will implode eventually
They should be able to still sustain themselves and be able to live while that happens
Exactly
@@HOLDXSTEEL they are not meant to sustain you, they are meant to supplement you while your family supports you during your education (uni or trade school). an adult still relying on them is a failed adult
@andidede3653 what do you consider a high paying salary?
According to this logic we should have kept minimal wage at 5 dollars. Is there ever a time we raise it. Crooks
Dave, thank you for explaining so many people just don't understand that minimum wage jobs were never meant to be a career job they were meant for HS students
Where is it said what the jobs were created for?
Read "Capital" by Thomas Piketty. No one in America should be part of the "working poor."
If I am a business owner and I have to increase the wages from $10 to $15 (a 50% increase), I am going to require that worker to work 50% harder, output 50% more to be worthy of it.
Orrr maybe your product has to be better so you can sell more. Business owners are not job creators. Consumers are.
Bingo! Or the job goes overseas or machines.
@@elizabethallen4353you need to learn the basics of economics before commenting. That response is embarrassing
@@whosaidthat9265 not really. It’s what Henry Ford did - paid his workers enough so that they could buy his product. Also he greatly diminished turnover.
@@whosaidthat9265 not really. Henry Ford paid his workers enough to buy his product. It cut down on turnover and built a purchasing base for his product. It doesn't make sense for labor to always bear the brunt of expense cutting. Why not consider huge corporations that undercut small businesses, giving obscene profits to very top?
There should be no mandated minimum wage. If you think that this will result in people being paid nothing, you don't understand. How many people do you know that make minimum wage? Do you work for minimum wage? Why not?
Once communism is voted in it can't be voted out. Ask Maduro
“You just have to vote one more time and that’s it” FDT
No the cost of the bread doesn’t have to go up. To stay competitive companies can’t just increase prices. Therefore companies have to be more efficient and eliminate waste, including CEO’s bonuses. This is something the corporatists don’t tell you.
Corporate price increases are greater than inflation. That’s just corporate greed.