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Thread: Warren Buffett: $15 minimum wage will hurt the working class

  1. #251
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    Re: Warren Buffett: $15 minimum wage will hurt the working class

    Quote Originally Posted by Capster78 View Post
    You know why it will hurt the middle class, because rich people's greed will overpower their humanity and they will simply hire less people in order to maintain their bottom lines. It's not that they cant afford to pay their workers a living wage, its just that they don't want to.
    Then you open a business, ignore the bottom line, and pay your unskilled entry level workers a living wage. Put your money where your mouth is.

  2. #252
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    Re: Warren Buffett: $15 minimum wage will hurt the working class

    Quote Originally Posted by Fletch View Post
    Then you open a business, ignore the bottom line, and pay your unskilled entry level workers a living wage. Put your money where your mouth is.
    Thats what I plan on doing. But first, I have to raise the capital to do so. If I am running a business and I can't afford to pay $2400 a month for a worker, then its not a business I would be interested in owning. If your not making enough to pay your workers a living wage, then it's a hobby, not a business and you should probably close it.
    Last edited by Capster78; 05-23-15 at 09:54 PM.
    - There was never a good war, or a bad peace.
    - Idealistically, everything should work as you planed it to. Realistically, it depends on how idealistic you are as to the measure of success.
    - Better to be a pessimist before, and an optimist afterwords.

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    Re: Warren Buffett: $15 minimum wage will hurt the working class

    Quote Originally Posted by Capster78 View Post
    Thats what I plan on doing. But first, I have to raise the capital to do so. If I am running a business and I can't afford to pay $2400 a month for a worker, then its not a business I would be interested in owning. If your not making enough to pay your workers a living wage, then it's a hobby, not a business and you should probably close it.
    So if everyone believed as you did and no one opens a business that cant pay less than $2400 per month, what happens to all those people who now have no hope of finding employment? I have a 16 year old daughter that wants to work and doesn't need $2400 per month to survive. She just needs an entry level position to give her experience and some spending cash. Unfortunately, your liberal narrow-mindedness just cut off the bottom rung of the ladder. Nothing is more harmful to the poor than a liberal who shows up to 'help.'

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    Re: Warren Buffett: $15 minimum wage will hurt the working class

    Quote Originally Posted by Fletch View Post
    So if everyone believed as you did and no one opens a business that cant pay less than $2400 per month, what happens to all those people who now have no hope of finding employment? I have a 16 year old daughter that wants to work and doesn't need $2400 per month to survive. She just needs an entry level position to give her experience and some spending cash. Unfortunately, your liberal narrow-mindedness just cut off the bottom rung of the ladder. Nothing is more harmful to the poor than a liberal who shows up to 'help.'
    Well, you asssume that every job paying $15 an hour will be full time jobs. It will actually be benificial to young adults because they can work fewer hours and make more money while at the same time, having more time to further their education while also having the ability to pay for it.
    - There was never a good war, or a bad peace.
    - Idealistically, everything should work as you planed it to. Realistically, it depends on how idealistic you are as to the measure of success.
    - Better to be a pessimist before, and an optimist afterwords.

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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by Fletch View Post
    So what??? What kind of response is that?? You claim to have employees. Do you honestly think they will feel no worse off when an entry level, unskilled position pays them as much as your skilled position pays them? What the hell are you thinking??
    I'm not the one advocating that we immediately jump to a $15/hr min wage. I have even admitted that doing that would be problematic.

    So your concern is only for the relative few who make minimum and not the vast majority of employees who will see the value of their labor vanish. Brilliant.
    Nope. If someone makes X, then it doesn't particularly matter what someone else makes. However, I tend to believe that many lower end wages will rise, more or less in proportion to what they pay now. I can only assume that you believe that inflation will eat up the income gains, but I believe that to be false assumption, and actual history has proven it to be a false assumption.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
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    I see a big problem with the idea that whatever the majority wants is OK.

  6. #256
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    Re: Warren Buffett: $15 minimum wage will hurt the working class

    Quote Originally Posted by Capster78 View Post
    Thats what I plan on doing. But first, I have to raise the capital to do so. If I am running a business and I can't afford to pay $2400 a month for a worker, then its not a business I would be interested in owning. If your not making enough to pay your workers a living wage, then it's a hobby, not a business and you should probably close it.
    you forget something.

    that is just their pay that doesn't include taxes on that pay.
    6.2% SS
    medicare tax 1.5%
    State unemployment tax that varies (all paid for by you)
    Federal Unemployment rate is 6%-State unemployement tax
    Workmans comp which is based on their salary
    Your portion of any insurance.

    So lets take your 1 employee. making 31k a year. now he has to make more than 31k a year for him to be profitable to your business.
    so you already SS tax (1922)
    Medicare tax (372)
    State unemployement tax is 2.7% for where you live on 7000 dollars per employee (max is 5.4%) so at 2.7%(189).
    Federal is 6%-2.7% on 7000 dollar per employee (231)
    Workers comp varies greatly. it is sold in 100 dollar units. so you have 310 units. so if your workers comp is 2 bucks that is 610.

    you don't realize that all of these are added costs that your business has to pay. it doesn't come from the employee.

    PS a business is not owned to pay people living wages. a businesses is owned to make money.
    if you are in the business to just pay people living wages then you shouldn't start a business.

  7. #257
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    Re: Warren Buffett Don't raise the minimum wage

    Quote Originally Posted by imagep View Post
    I'm not the one advocating that we immediately jump to a $15/hr min wage. I have even admitted that doing that would be problematic.
    it doesn't matter if it is automatic or scaled. they will still at some point get to 15 dollars and hour. you will either give your more skilled workers more money
    or tell them tough crap any extra money you would have made when to the entry level guy.


    Nope. If someone makes X, then it doesn't particularly matter what someone else makes. However, I tend to believe that many lower end wages will rise, more or less in proportion to what they pay now. I can only assume that you believe that inflation will eat up the income gains, but I believe that to be false assumption, and actual history has proven it to be a false assumption.
    LOL if I am the IT or accountant doing your stuff and am making the same as the guy that takes out the trash umm yes we are going to have a problem.
    no it hasn't it has proven true. businesses raise prices to compensate for increased business costs. that is inflation.

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    Re: Warren Buffett: $15 minimum wage will hurt the working class

    Quote Originally Posted by Capster78 View Post
    Well, you asssume that every job paying $15 an hour will be full time jobs. It will actually be benificial to young adults because they can work fewer hours and make more money while at the same time, having more time to further their education while also having the ability to pay for it.
    not really because I am not going to hire no experienced people even working 20 hours a week.
    I need people that can jump in and do the job now with little training.

  9. #259
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    Re: Warren Buffett: $15 minimum wage will hurt the working class

    Quote Originally Posted by ludin View Post
    not really because I am not going to hire no experienced people even working 20 hours a week.
    I need people that can jump in and do the job now with little training.
    You will no find experienced people for $15 an hour. Sorry. I don't know what kind of job market you live in, but anyone with a college degree may earn $15 an hour to start., but quickly increase their income with experience. This will not only help people with only a high school education, but also raise the wages of those who are strait out of college and owe money to college loans.
    - There was never a good war, or a bad peace.
    - Idealistically, everything should work as you planed it to. Realistically, it depends on how idealistic you are as to the measure of success.
    - Better to be a pessimist before, and an optimist afterwords.

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    Re: Warren Buffett: $15 minimum wage will hurt the working class

    Quote Originally Posted by Capster78 View Post
    You will no find experienced people for $15 an hour. Sorry. I don't know what kind of job market you live in, but anyone with a college degree may earn $15 an hour to start., but quickly increase their income with experience. This will not only help people with only a high school education, but also raise the wages of those who are strait out of college and owe money to college loans.
    there is a difference in having a college degree and wanting 15 and hour
    and not having anything and wanting 15 an hour.

    no it won't. if you just have a high school diploma and no job skills sorry I can't hire you.
    people with a college degree usually end up making more than that starting out.

    it actually hurts them because before they might have gotten 15 -20 bucks an hour.

    now if they get 20 bucks an hour that is only 5 bucks more than working minimum wage.
    you have just devalued their education.

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