The invisible hand is market forces reaching equilibrium

Sep 22, 2016
11:09:00pm

Sumguy Redshirt Freshman

And the tiny retailers mentioned in the original article will close as people shop online. Amazon and Walmart's financials show their labor cost is less than half of COGS even with Walmart raising their minimum wage.

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Sumguy

Bio page: Sumguy
Joined: Sep 8, 2014
Last login: Oct 19, 2020
Total posts: 13,067 (482 FO)

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Messages

Author

Time

For anyone wondering what $15 minimum wage would do to small business- take a

BeyondTheMark

9/22/16 8:27am

Problem solved - once all the neighboring businesses have to pay $15/hr the workers will have more money

Bubba Gravity

9/22/16 8:36am

I hope you're joking

SouthernBlueBlood

9/22/16 8:42am

I'm joking but unfortunately there are enough do-gooders in politics that believe these distorted versions of reality.

Bubba Gravity

9/22/16 8:46am

They will be OK, all those who favor a $15 min wage have agreed to support all these

Agaricus

9/22/16 8:38am

The greedy business owners may have to take a pay cut to make things more fair.

Thunder Buddy

9/22/16 8:38am

Exactly, everyone knows $7/day is excessive for these greedy owners

Agaricus

9/22/16 8:41am

Reread the article. $7 was after paying themselves. There's plenty of money, and

Thunder Buddy

9/22/16 8:42am

I always love these statements

FatherOFive

9/22/16 9:01am

Sorry TB, not sure if you are being sarcastic or what? I guess you aren't.

Agaricus

9/22/16 9:02am

"...tons of money." LOL, clearly never owned a small business.

cougarmeister

9/22/16 9:15am

clearly you don't know Thunder Buddy

supertux

9/22/16 9:18am

I can tell you from a small business owner perspective...yes, I pay myself. But,

ol' Blue Eyes

9/22/16 9:21am

Business owner friend, went through a rough patch and not only didn't receive a

Agaricus

9/22/16 9:33am

you are unreal

Saxa

9/22/16 10:18am

Lol @ employees working harder than small business owners... smh

Bluedarts

9/22/16 10:37am

It's pretty simple for us...if they raise it we fire ppl.

whiteninja

9/22/16 8:39am

One segment of my Company provides "Homecare" service to elderly & disabled

BoiseBlue

9/22/16 8:39am

Labor costs are small compared to rents and other costs

Sumguy

9/22/16 8:39am

Ironic that you use the invisible hand in support of increased government

My Soapbox

9/22/16 8:41am

Actually I do customer insights and analytics for a large company

Sumguy

9/22/16 10:25pm

Do they know that you don't know what the invisible hand is?

BoiseBlue

9/22/16 10:55pm

The invisible hand is market forces reaching equilibrium

Sumguy

9/22/16 11:09pm

Ummmmm....the "invisible hand" ceases to be "invisible"...

BoiseBlue

9/22/16 8:42am

Reminds me of my BIL was arguing cash for clunkers was free market economics

bluesloth

9/22/16 8:48am

FYI: There's already a minimum wage

Sumguy

9/22/16 11:09pm

Labor costs are among the largest operating expenses for most small businesses

2FarGone

9/22/16 8:43am

Labor cost for me is more than double any other expense I have. It's almost

unctoothman

9/22/16 8:45am

It is by far my largest expense

Saxa

9/22/16 10:21am

What are you talking about, labor costs are my, and most other small businesses,

kotacoug

9/22/16 8:46am

I'd :facepalm: this, but I'm too busy SMH so it's best that I :eyeroll:

OldCosmo

9/22/16 8:51am

Do you always pop off on topics about which you have no knowledge?

srey

9/22/16 8:52am

I assume you're trolling. But point is...this is why automation and robots are

ol' Blue Eyes

9/22/16 8:59am

I know we have post of the day nominations; can we have worst post nominations?

Peanut

9/22/16 9:03am

Which area of art did you major in?

UNLVcougar

9/22/16 9:09am

<< Deleted >>

Buffalo

9/22/16 9:11am

Ignorant comment. And absolutely false.

Real Men Wear Blue

9/22/16 9:17am

What do you do for a living? I know you are not a businessman.

Big Daddy D

9/22/16 9:29am

Umm...wrong. Labor costs is 50% of my budget

whiteninja

9/22/16 10:17am

Smrt

Bluedarts

9/22/16 10:43am

At least we know we can open a Koolaid business and sumguy will be a customer!

jtm0001

9/22/16 11:02am

Most banks in my area replaced drive up windows with drive up ATM's. Fast food drive up ordering has been outsourced

Pick-Six Coug

9/22/16 8:45am

That's why we have more than 1 kid....workforce. (I kid)

silentvelcro

9/22/16 8:48am

Thanks for providing your child count in both Arabic and Roman numerals

jbcoug

9/22/16 8:59am

Or you could confuse yourself by looking at markets that actually have done so

UteonBainbridge

9/22/16 11:03am

As a consumer how do you know Seattle businesses are doing well? As a SBO

Agaricus

9/22/16 11:21am

I own a law practice.

UteonBainbridge

9/22/16 1:41pm

I appreciate that you consider both sides of the equation. I hate it when people

ol' Blue Eyes

9/22/16 2:34pm

How many unskilled employees do you have? I would guess almost none?

Agaricus

9/22/16 2:55pm

The University of Washington has been studying Seattle's minimum wage closely

Sumguy

9/23/16 10:57am

I think you're trying too hard to prove yourself right.

ol' Blue Eyes

9/23/16 11:27am

So many uninformed comments in this thread

Sumguy

9/23/16 3:50pm

You can't talk out both sides of your mouth. Are we talking small businesses or

srey

9/23/16 3:56pm

Haha... a little sensitive here...are we? I stand by what I said.

ol' Blue Eyes

9/23/16 4:43pm

Nope, just trying to turn the conversation to facts instead of speculation

Sumguy

9/24/16 12:25am

Hold off on that rosy assessment!

shokupanmanbo

9/22/16 12:00pm

The hard part about all the (very early) returns on this change

UteonBainbridge

9/22/16 3:58pm

I think that's a fair comment. One of my big issues with a $15 minimum wage....

BoiseBlue

9/22/16 4:20pm

So saying,"Seattle is doing great!" is presenting data?

bluesloth

9/22/16 12:22pm

Another interesting aspect of this is that this law has made workers lazy.

Bluedarts

9/22/16 3:55pm

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