View Poll Results: Profit Sharing? What do you think?

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  • It's a good idea! (Please explain!)

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Thread: Profit Sharing

  1. #1
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    Profit Sharing

    My friend Master Legend - he is a real life Superhero that you can find at https://www.facebook.com/therealmasterlegend?fref=ts and https://www.facebook.com/pages/Maste...43047912386245

    Has had an idea for profit sharing. Due to the economic inbalance in society. His plan was for business owners to be able to own 70% of profits earned - but that in addition to their minimum wage payments - anything extra that the business makes, it all gets redistributed back to the workers.

    For example. Let's say the owner of a big chain of restaurants at the end of the month - after paying the employee's salaries and also the taxes and stuff, that they have $1,000,000.00 (one million dollars - for the dyslexic readers out there) left over - 70% of that which would be $700,000.00 (seven hundred thousand dollars) they get to keep - but that the remaining $300,000 all gets distributed back to the employees.

    I'm not as smart when it comes to economics. I'm not a socialist - I think I would actually lean capitalist but not too far in that direction - I like it when everyone is prosperous.

    I'm not as open-minded when it comes to social issues - I mean I'll hear what people have to say but pretty set in my ways there. When it comes to fiscal issues, I am more willing to hear all sides' ideas on this.

  2. #2
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    Re: Profit Sharing

    Quote Originally Posted by Tothian View Post
    My friend Master Legend - he is a real life Superhero that you can find at https://www.facebook.com/therealmasterlegend?fref=ts and https://www.facebook.com/pages/Maste...43047912386245

    Has had an idea for profit sharing. Due to the economic inbalance in society. His plan was for business owners to be able to own 70% of profits earned - but that in addition to their minimum wage payments - anything extra that the business makes, it all gets redistributed back to the workers.

    For example. Let's say the owner of a big chain of restaurants at the end of the month - after paying the employee's salaries and also the taxes and stuff, that they have $1,000,000.00 (one million dollars - for the dyslexic readers out there) left over - 70% of that which would be $700,000.00 (seven hundred thousand dollars) they get to keep - but that the remaining $300,000 all gets distributed back to the employees.

    I'm not as smart when it comes to economics. I'm not a socialist - I think I would actually lean capitalist but not too far in that direction - I like it when everyone is prosperous.

    I'm not as open-minded when it comes to social issues - I mean I'll hear what people have to say but pretty set in my ways there. When it comes to fiscal issues, I am more willing to hear all sides' ideas on this.
    If the owner wants to do that, that is his choice. If I owned a Business I wouldn't do it.

  3. #3
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    Re: Profit Sharing

    One size fits all solutions don't work in the real world. If we could go back to free markets everyone would be much more prosperous. Now we are perpetually on the brink.
    "I have never understood why it is "greed" to want to keep the money you have earned but not greed to want to take somebody else's money." -Thomas Sowell

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    Re: Profit Sharing

    Alright. Also make sure to vote in the poll too please.

    Thanks!

  5. #5
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    Re: Profit Sharing

    There must be an investment to get a return on that investment. The burger flipper invested his time on a 100% return basis - their salary. That burger flipper did not supply the building, the kitchen equipment or even the meat, buns or condiments - the owner did. The owner took the risk of the investment and gets any profits (or losses) from that investment.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: Profit Sharing

    Quote Originally Posted by Tothian View Post
    My friend Master Legend - he is a real life Superhero that you can find at https://www.facebook.com/therealmasterlegend?fref=ts and https://www.facebook.com/pages/Maste...43047912386245

    Has had an idea for profit sharing. Due to the economic inbalance in society. His plan was for business owners to be able to own 70% of profits earned - but that in addition to their minimum wage payments - anything extra that the business makes, it all gets redistributed back to the workers.

    For example. Let's say the owner of a big chain of restaurants at the end of the month - after paying the employee's salaries and also the taxes and stuff, that they have $1,000,000.00 (one million dollars - for the dyslexic readers out there) left over - 70% of that which would be $700,000.00 (seven hundred thousand dollars) they get to keep - but that the remaining $300,000 all gets distributed back to the employees.

    I'm not as smart when it comes to economics. I'm not a socialist - I think I would actually lean capitalist but not too far in that direction - I like it when everyone is prosperous.

    I'm not as open-minded when it comes to social issues - I mean I'll hear what people have to say but pretty set in my ways there. When it comes to fiscal issues, I am more willing to hear all sides' ideas on this.
    I love profit sharing plans for my S-Corp clients with smaller staffs and big profits. Let's say I have 3 employees making $30k each and in December I notice I'm sitting on a $300k profit. I max out my PSP by dumping $7500 into each of their accounts, figure my own wages at $200k and dump $50k into my account...PRESTO! no more profit to deal with and everybody's happy. I save paying tax on $72,500 while socking away a decent chunk of change for myself.

  7. #7
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    Re: Profit Sharing

    In my experience and observations, businesses who do some kind of profit sharing are generally more stable and have happier and more productive employees.

    It's not a "one size fits all" thing, of course, but many businesses are short-sighted if they don't offer something. It doesn't have to be a huge percentage, but something tangible that drives home to good employees that they're valued.
    If you claim sexual harassment to be wrong, yet you defend anyone on your side for any reason,
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  8. #8
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    Re: Profit Sharing

    It certainly can motivate employees to be more productive and cost aware when they have a extra stake in how much profit a company makes.
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    Re: Profit Sharing

    Yes but, not to that extent.

    Nice Christmas bonuses and other perks would be more in order. And I'd base in on performance.

  10. #10
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    Re: Profit Sharing

    First, are you talking about a business making the choice to do this, or the government enacting this and forcing it on business owners? Also, and probably the bigger problem is what about those times when profits are small, or even negative profits than can happen from time to time. At that point do all the workers have to take a massive pay cut or pay in to cover the loss?
    “Most people do not listen with the intent to understand; they listen with the intent to reply.”
    Stephen R. Covey


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