Re: The Nation's Financial Condition
Posted: Thu Jan 02, 2020 6:58 am
Same Party, Different House
https://fanlax.com/forum/
holmes435 wrote: ↑Thu Nov 14, 2019 11:04 pmAnd that's one of the reasons why inflation isn't higher. Middle and lower classes are still underemployed / underpaid (or overcharged) with respect to a few major expenses, namely health care and housing and to a lesser extent higher education among others.ardilla secreta wrote: ↑Thu Nov 14, 2019 8:42 pmA report shows 7 of 10 Americans are struggling financially. Do you care?Peter Brown wrote: ↑Thu Nov 14, 2019 9:51 am Why is it that the same people who supported a stunningly failed political campaign in '16, are the same ones telling me for 3 years straight now that the stock market is massively overvalued?
https://www.cbsnews.com/news/70-america ... nancially/
Dems fighting for minimum wage increases has paid off..... in additionPeter Brown wrote: ↑Sat Jan 04, 2020 9:40 amholmes435 wrote: ↑Thu Nov 14, 2019 11:04 pmAnd that's one of the reasons why inflation isn't higher. Middle and lower classes are still underemployed / underpaid (or overcharged) with respect to a few major expenses, namely health care and housing and to a lesser extent higher education among others.ardilla secreta wrote: ↑Thu Nov 14, 2019 8:42 pmA report shows 7 of 10 Americans are struggling financially. Do you care?Peter Brown wrote: ↑Thu Nov 14, 2019 9:51 am Why is it that the same people who supported a stunningly failed political campaign in '16, are the same ones telling me for 3 years straight now that the stock market is massively overvalued?
https://www.cbsnews.com/news/70-america ... nancially/
Facts.
https://www.wsj.com/articles/rank-and-f ... 1577442600
Yeah, and while it's great that their wages are rising, we still have 4+ decades of catching up to do to narrow the income and wealth gap. Wages are still nowhere where they need to be.Typical Lax Dad wrote: ↑Sat Jan 04, 2020 12:07 pmDems fighting for minimum wage increases has paid off..... in additionPeter Brown wrote: ↑Sat Jan 04, 2020 9:40 amholmes435 wrote: ↑Thu Nov 14, 2019 11:04 pm
And that's one of the reasons why inflation isn't higher. Middle and lower classes are still underemployed / underpaid (or overcharged) with respect to a few major expenses, namely health care and housing and to a lesser extent higher education among others.
Facts.
https://www.wsj.com/articles/rank-and-f ... 1577442600
“The effective labor pool is smaller than what it has been in the past,” said Tony Darden, Mooyah’s president. “As you look to bring on folks, ultimately higher wages are used to attract them.”
holmes435 wrote: ↑Sat Jan 04, 2020 2:02 pmYeah, and while it's great that their wages are rising, we still have 4+ decades of catching up to do to narrow the income and wealth gap. Wages are still nowhere where they need to be.Typical Lax Dad wrote: ↑Sat Jan 04, 2020 12:07 pmDems fighting for minimum wage increases has paid off..... in additionPeter Brown wrote: ↑Sat Jan 04, 2020 9:40 amholmes435 wrote: ↑Thu Nov 14, 2019 11:04 pm
And that's one of the reasons why inflation isn't higher. Middle and lower classes are still underemployed / underpaid (or overcharged) with respect to a few major expenses, namely health care and housing and to a lesser extent higher education among others.
Facts.
https://www.wsj.com/articles/rank-and-f ... 1577442600
“The effective labor pool is smaller than what it has been in the past,” said Tony Darden, Mooyah’s president. “As you look to bring on folks, ultimately higher wages are used to attract them.”
Peter's "Facts" also didn't address half of my statement - how much housing, health care and education expenses grew over those past few decades and how much faster they are still growing vs. those wage raises. That still has a pretty dampening effect on inflation.
Typical Lax Dad wrote: ↑Sat Jan 04, 2020 12:07 pmDems fighting for minimum wage increases has paid off..... in additionPeter Brown wrote: ↑Sat Jan 04, 2020 9:40 amholmes435 wrote: ↑Thu Nov 14, 2019 11:04 pmAnd that's one of the reasons why inflation isn't higher. Middle and lower classes are still underemployed / underpaid (or overcharged) with respect to a few major expenses, namely health care and housing and to a lesser extent higher education among others.ardilla secreta wrote: ↑Thu Nov 14, 2019 8:42 pmA report shows 7 of 10 Americans are struggling financially. Do you care?Peter Brown wrote: ↑Thu Nov 14, 2019 9:51 am Why is it that the same people who supported a stunningly failed political campaign in '16, are the same ones telling me for 3 years straight now that the stock market is massively overvalued?
https://www.cbsnews.com/news/70-america ... nancially/
Facts.
https://www.wsj.com/articles/rank-and-f ... 1577442600
“The effective labor pool is smaller than what it has been in the past,” said Tony Darden, Mooyah’s president. “As you look to bring on folks, ultimately higher wages are used to attract them.”
So you are saying the minimum wage increase has had no impact on upward pressure on wages and most low wage employees make at least what your company pays? That’s your math? $15 a hour is the average minimum now?Peter Brown wrote: ↑Tue Jan 07, 2020 10:02 amTypical Lax Dad wrote: ↑Sat Jan 04, 2020 12:07 pmDems fighting for minimum wage increases has paid off..... in additionPeter Brown wrote: ↑Sat Jan 04, 2020 9:40 amholmes435 wrote: ↑Thu Nov 14, 2019 11:04 pmAnd that's one of the reasons why inflation isn't higher. Middle and lower classes are still underemployed / underpaid (or overcharged) with respect to a few major expenses, namely health care and housing and to a lesser extent higher education among others.ardilla secreta wrote: ↑Thu Nov 14, 2019 8:42 pmA report shows 7 of 10 Americans are struggling financially. Do you care?Peter Brown wrote: ↑Thu Nov 14, 2019 9:51 am Why is it that the same people who supported a stunningly failed political campaign in '16, are the same ones telling me for 3 years straight now that the stock market is massively overvalued?
https://www.cbsnews.com/news/70-america ... nancially/
Facts.
https://www.wsj.com/articles/rank-and-f ... 1577442600
“The effective labor pool is smaller than what it has been in the past,” said Tony Darden, Mooyah’s president. “As you look to bring on folks, ultimately higher wages are used to attract them.”
The fact that unemployment sits at 3.5% and employers can no longer pay anyone minimum wage to attract even half-capable labor is a far more direct impact on wages. We pay on average $15/hour for starting wages for unskilled labor at most of our locations. The absolute lowest wage we pay anywhere across this country for our entire company is $13/hour. And I can tell you for a fact that at $13/hour, it is very difficult to attract anyone. Once hired at $13/hour, those individuals rapidly advance past $15/hour. Minimum wage is $7.25.
Typical Lax Dad wrote: ↑Tue Jan 07, 2020 10:47 amSo you are saying the minimum wage increase has had no impact on upward pressure on wages and most low wage employees make at least what your company pays? That’s your math? $15 a hour is the average minimum now?Peter Brown wrote: ↑Tue Jan 07, 2020 10:02 amTypical Lax Dad wrote: ↑Sat Jan 04, 2020 12:07 pmDems fighting for minimum wage increases has paid off..... in additionPeter Brown wrote: ↑Sat Jan 04, 2020 9:40 amholmes435 wrote: ↑Thu Nov 14, 2019 11:04 pmAnd that's one of the reasons why inflation isn't higher. Middle and lower classes are still underemployed / underpaid (or overcharged) with respect to a few major expenses, namely health care and housing and to a lesser extent higher education among others.ardilla secreta wrote: ↑Thu Nov 14, 2019 8:42 pmA report shows 7 of 10 Americans are struggling financially. Do you care?Peter Brown wrote: ↑Thu Nov 14, 2019 9:51 am Why is it that the same people who supported a stunningly failed political campaign in '16, are the same ones telling me for 3 years straight now that the stock market is massively overvalued?
https://www.cbsnews.com/news/70-america ... nancially/
Facts.
https://www.wsj.com/articles/rank-and-f ... 1577442600
“The effective labor pool is smaller than what it has been in the past,” said Tony Darden, Mooyah’s president. “As you look to bring on folks, ultimately higher wages are used to attract them.”
The fact that unemployment sits at 3.5% and employers can no longer pay anyone minimum wage to attract even half-capable labor is a far more direct impact on wages. We pay on average $15/hour for starting wages for unskilled labor at most of our locations. The absolute lowest wage we pay anywhere across this country for our entire company is $13/hour. And I can tell you for a fact that at $13/hour, it is very difficult to attract anyone. Once hired at $13/hour, those individuals rapidly advance past $15/hour. Minimum wage is $7.25.
Well, speaking as an employer that does not have a single employee making less than $15 an hour, I am not much impressed by jobs numbers that are treading water and showing signs of worse to come.Peter Brown wrote: ↑Fri Jan 10, 2020 10:26 am
Some people grumble that roses have thorns; I am grateful that thorns have roses.
The national unemployment rate (for those keeping score) is 3.5%. And the Dow is at 29,000. But hey, thorns.
a fan wrote: ↑Fri Jan 10, 2020 10:40 am Hear, hear, JHU72. I don't have anyone making less than that either.
You're ignoring the context, Pete.
The reason we are all grumbling is the stupid trade wars, coupled with massive spending increases and irresponsible tax cuts. As of two weeks ago, Trump is up to $3 Trillion in new spending, and every cent of it is borrowed.
We're waiting for CBO scoring on the new spending bill, waiting to hear what it does to the debt.
BEFORE this last $500 Billion spending bill? Payment on interest will exceed our spending on defense in 2026. If that doesn't flat our scare you....
We have mortgaged our future. This is a wholly borrowed economy.
I'm curious. Has your company paid corporate taxes? If so, at what rate?
Completely fair. I didn't mean to offend. I had thought your firm was publicly traded. My apologies.Peter Brown wrote: ↑Fri Jan 10, 2020 10:57 am I am not in the habit of revealing our corporate information online, so I have to respectfully decline your last question.
As a reminder, when it comes to economics, I'm about a mile to the right of you. I'm not a lefty.Peter Brown wrote: ↑Fri Jan 10, 2020 10:57 am What I think you guys on the left should get your gander about is hypocrites like Bill Gates who loudly say they want to pay more tax, so please tax me higher. lol. What he means is tax my income higher. Easy to say after you've already made it!
You're still not listening.
a fan wrote: ↑Fri Jan 10, 2020 11:15 amCompletely fair. I didn't mean to offend. I had thought your firm was publicly traded. My apologies.Peter Brown wrote: ↑Fri Jan 10, 2020 10:57 am I am not in the habit of revealing our corporate information online, so I have to respectfully decline your last question.
As a reminder, when it comes to economics, I'm about a mile to the right of you. I'm not a lefty.Peter Brown wrote: ↑Fri Jan 10, 2020 10:57 am What I think you guys on the left should get your gander about is hypocrites like Bill Gates who loudly say they want to pay more tax, so please tax me higher. lol. What he means is tax my income higher. Easy to say after you've already made it!
Don't care about taxing Bill Gates. What I care about is taxing Microsoft. It is the height of insanity that my piddly company frequently pays more money to keep America's lights on than Fortune 500 companies. Our tax system is beyond broken.
You're still not listening.
Ever hear the centuries-old fable of the grasshopper and the ants?
The fable concerns a grasshopper that has spent the summer singing while the ants worked to store up food for winter. When winter arrives, the grasshopper finds itself dying of hunger and begs the ant for food. However, the ant rebukes its idleness and tells it to dance the winter away now.
All you keep telling us that things are great here in the summertime. We get that. Everyone at the forum, to my knowledge, is doing fine or doing great. This summer weather, to stick with the metaphor, is great....but when winter arrives, and we can't borrow money anymore, and we finally have to raise taxes?
That's when you and I will have this conversation again.
a fan wrote: ↑Fri Jan 10, 2020 11:15 amCompletely fair. I didn't mean to offend. I had thought your firm was publicly traded. My apologies.Peter Brown wrote: ↑Fri Jan 10, 2020 10:57 am I am not in the habit of revealing our corporate information online, so I have to respectfully decline your last question.
As a reminder, when it comes to economics, I'm about a mile to the right of you. I'm not a lefty.Peter Brown wrote: ↑Fri Jan 10, 2020 10:57 am What I think you guys on the left should get your gander about is hypocrites like Bill Gates who loudly say they want to pay more tax, so please tax me higher. lol. What he means is tax my income higher. Easy to say after you've already made it!
Don't care about taxing Bill Gates. What I care about is taxing Microsoft. It is the height of insanity that my piddly company frequently pays more money to keep America's lights on than Fortune 500 companies. Our tax system is beyond broken.
You're still not listening.
Ever hear the centuries-old fable of the grasshopper and the ants?
The fable concerns a grasshopper that has spent the summer singing while the ants worked to store up food for winter. When winter arrives, the grasshopper finds itself dying of hunger and begs the ant for food. However, the ant rebukes its idleness and tells it to dance the winter away now.
All you keep telling us that things are great here in the summertime. We get that. Everyone at the forum, to my knowledge, is doing fine or doing great. This summer weather, to stick with the metaphor, is great....but when winter arrives, and we can't borrow money anymore, and we finally have to raise taxes?
That's when you and I will have this conversation again.
Maybe Willie Nelson can have another concert circ: 1985