Labor costs are small compared to rents and other costs

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Sep 22, 2016
8:39:32am

Sumguy Redshirt Freshman

Labor costs are small compared to rents and other costs

If the rise in wages for low income households gives a large increase in disposable income, the small businesses mentioned in the article will have more customers.

If they aren't making much money before or after a change in labor costs, the invisible hand will force them to close.

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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

9/22/16 8:27am

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

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.

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.

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

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.

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!

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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