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You own a small business? What kind? Is it a manufacturing business?
I never said that a business couldn't be successful. But what are your labor costs? Do you even have to deal with federal agencies?
I own a multi-department printing company, so yes, I suppose you could say that it's a manufacturing company, but we are also a retailer and a service company - we handle all aspects of business.
So are you suggesting that only manufacturing companies have to deal with government regulations? So what percent of all businesses are manufacturing companies? Maybe 5%? Is it fair to infer from that the regulations are only holding back at most 5% of businesses? Wow, we just disposed of 95% of the argument against regulations.
And of course we have to deal with federal agencies. Not often, it's fairly mundane paperwork. We have to comply with regulations on our air quality, on the way we dispose of waste materials, on having a safe work environment and a safe environment for our customers also. We keep MDS's on over 50 chemicals that we purchase. Because of the nature of some of the solvents we use, we have to have an eye wash station and an approved general first aid station. We also had to conform to UBC when we constructed our current location, had to build a berm and install about 30 trees, we have to have handicapped parking spaces, we have to have battery powered backup lighting and emergency lighting, lighted exist lights, at least two methods of egress from each room over X sf, etc. None of that was that big of a deal, we just did it. Back then I had to go to the library to look a lot of this stuff up, our general contractor was also trained in regulations, but these days, you can just look it up on the internet.
And "labor cost" is the money that you have to pay out to employ labor, including all employee benefits and the cost of processing payroll. Seems like you would have known that already, but I'm glad I could educate you.
Or maybe you are emplying that if my labor cost was lower, that I could afford to expand or to be more profitable. No, that's not the way it works. If my labor cost was lower (due to less regulation or no minimum wage or whateever), then my competitors would also have a lower labor cost, and they would have the exact same relative competitive advantage that I do. So we would just continue to compete based upon price and quality, and it would make no difference to either of us. Prices might would be a little lower due to costs being lower and competition being fierce in my industry, but my bottom line would likely end up being just the same because the lower revenue would offset any costs savings. And of course if worker compensation was lower, consumers would have less money in their pocket, so it's not like demand would increase - lower wages would offset lower prices and there would be no net benefit to consumers. All we would end up with is a less safe working environment and a dirtier eco-environment for everyone without those regulations.
Yes, repeal and restructure everything you mentioned. Get rid of the clean air act and other enviro-stupidity. get rid of stupid "job safety" laws and the mountain of paperwork necessary to document it. Yes, get rid of anti-discrimination laws. Get rid of mandated "benefits".
Even Child labor laws need to be redone.
How's that working out for Somolia?
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