Red States Vote to Raise Minimum Wage!

[doubledeluxe]

Looking at the statistics I apparently am in a very small niche. Only 1% of small businesses have revenues above $500,000

Only 10% are above $100,000

I had no idea. To me it´s not worth the risk at all. Makes no sense to risk everything to make less than $100,000 a year when I can get hired for that by another company. I'll let someone with more experience in that sector speak up.

 

[werepossum]

Out of curiosity, what is the ratio of workers you keep versus those you don't?

You cannot possibly believe he's a business owner. First he talks about paying people to push a broom, then he states that five employees should make you $500,000. He's just another walking pool of entitlement assuming that everyone with a business is a millionaire put on Earth for his benefit.

Ask a CPA how many businesses with five employees net $500,000. Many don't even gross that much. Opening a small business is basically creating your own job, not joining the millionaires club in year two.

 

[doubledeluxe]

Good points.

I guess I was thinking about my mother's cafe that she had for twelve years. She used mostly high end products that ate into her profits. Her business generated most of the profits in the summer. This is at the shore in New Jersey, so you either make it in the summer or you go broke. They closed in early November and opened late April. The fall/spring months were nothing to write home about. After expenses she was lucky to take home $50k as profit. It was good for her. My dad was a contractor so they had additional income throughout the year.

That business model is slightly different since she´s effectively creating a business where she gets a 6 month vacation. I understand that type of business to be more for a different standard of living than for a profit. I respect that but it´s not a full time gig so not really what I´m talking about. Most small businesses are apparently people selling girl scout cookies or something since over 50% have revenues less than $50K a year. That´s to supplement income in most cases I would assume. Remember it´s revenue and not profit.

 

[doubledeluxe]

You cannot possibly believe he's a business owner. First he talks about paying people to push a broom, then he states that five employees should make you $500,000. He's just another walking pool of entitlement assuming that everyone with a business is a millionaire put on Earth for his benefit.

Ask a CPA how many businesses with five employees net $500,000. Many don't even gross that much. Opening a small business is basically creating your own job, not joining the millionaires club in year two.

See my post above.

 

[sandorski]

Obama says the economy is getting better, and I trust him. The Bank of Canada wouldn't be suggesting slavery unless the economy were truly awful.

Internships and Minimum Wage are not the same thing and the BoC is not Government.

 

[Victorian Gray]

Obama says the economy is getting better, and I trust him. The Bank of Canada wouldn't be suggesting slavery unless the economy were truly awful.

The Bank of Canada is suggesting 'slavery' because the head of the bank is a good little Harper govt. apparatchik who's also worked real hard to lower the value of the Canadian dollar to benefit Canadian exporting companies at the expense of the general population.

 

[Zaap]

You cannot possibly believe he's a business owner. First he talks about paying people to push a broom, then he states that five employees should make you $500,000. He's just another walking pool of entitlement assuming that everyone with a business is a millionaire put on Earth for his benefit.

Ask a CPA how many businesses with five employees net $500,000. Many don't even gross that much. Opening a small business is basically creating your own job, not joining the millionaires club in year two.

You sir are the voice of reason and (all too uncommon) common sense.

 

[Wreckem]

I'd like to point out the exiting polling on the economic state of the US.

Exit polling data from yesterday shows voters are angry about wages. This was one of the bigger economic issues voters cited yesterday.

Objectively the economy is better by almost every indicator. The issue is the common man doesn't see it because of wages continually being depressed. Right now wages are a bigger economic issue than taxes to the common citizen. That is why the GOP has largely dropped their tax rhetoric this election cycle.

Stagnant wages at a time of large profits and record productivity will play heavily in 2016. Unfortunately the govt has very little control over that issue.