US workers been getting screwed for 55 years
Nope. Ducks sounds like an Indian tech guy who promises to fix your perfectly fine computer for the fine fee of 500 dollars.
his clientele are old people? This age group are the scammers target audience.
US workers been getting screwed for 55 years
as others have inted out, one size fits all wages don't work because economic conditions are discontinuous from place to place.
https://cepr.net/this-is-what-minimu...-productivity/
Basically what I was going to say. Walmart and McDonalds can afford to pay their employees a livable wage. A locally-owned grocery store in Rural America probably cannot.
no
it’s not a highly sought destination to live.
You have found a good in age, stay there. I think it’s cool that so many people continue using old computers so there is a supply for your services. Someday you could own a business that kids computers running for some of these very large financial ins utions. Hold that thought and then discard it. Vanguard and the Bank of London will not be moving to Yuma
can ducks fly? or could you just migrate... you could rent a place in London Paris or New York and then just migrate back to Yuma for the weather and feeding. Or maybe you need to think like a condor and not like a duck?
One of the benefits of my move tbh
what happened in mid '60s?
Revenue Act of 1964
In January 1963, Kennedy presented Congress with a tax proposal that would reduce the top marginal tax rate from 91 percent to 65 percent,
https://en.wikipedia.org/wiki/Revenue_Act_of_1964
just begging for hyperinflation. Your economics sense is re ed.
Smart move: Keep the $7.25 for the whole country, allow cities (not states though) to incorporate minimum wages. People can choose which cities to live and work in, but not always states. And definitely not on the federal level.
Plus VA state income tax is 5.75% compared to 13.3% in California.
Due to the extremely high COLA and state income tax, 23 an hour W2 might be a necessity in the big cities/big suburbs in CA (LA, SD, SF, OAK, SAC, etc) but shouldn't be statewide. Poor places like the CA-99 corridor, Porterville, etc would just get worse with a $23 an hour W2 minimum wage.
the taxes barely factor into the equation from my perspective. even if VA's state income tax was twice CA, it doesnt come near the difference in property value
if state income tax in Virginia was 26.6%, on top of your IRS and FICA (SS, Medicare) taxes; you'd definitely "feel it", tbh.
But yeah, the difference between a $900K 4bed/2.5 bath starter home in suburban SoCal / $1.3 million for the same in suburban Bay Area vs. $400-450K for the same in Virginia is a boon for relocating east.
The drawback is mainly felt this time of year though. No snow in Cali. No driving in ice in Cali. But hey, at least gas is cheap in Virginia!
if the tradeoff for paying an additional 13% in income taxes was a can get a home for 1/3 or 1/4 of the price, i'd take that
I think you can only write $10K in state and local income tax off your IRS taxes under the Trump 17-18 tax law
Hope Biden repeals it asap tbh.
I think people in VA/Michigan/PA/Wisconsin/Minnesota/Georgia felt the pain of that part of the Trump tax bill, as Will Hunting alluded to last year a few times, and that caused a lot of usual non voters and GOP voters in those states to vote against Trump in November.
you should check what hyperinflation means tbh
Large scale inflation in any case. Inflation and Keynesian economics are 2 cancers that must be fought at this time even harder than the pandemic itself.
Trump did NOT do a good job and he proved himself to be just another Keynesian economist. I don't trust Biden to really do any better but at least it's good to get the orange man out.
Keynesian spending is a tool in a toolbox.In a demand shock you need robust public spending to prevent debt-deflation and economic destruction. Right now it's a great idea.
why are you discussing basic economics with Andy? It's clear he has no idea what he's talking about.
I like to set a marker next to that.
Better to have deflation than inflation. I miss the 55 cent burgers from Jack in the Box (very early Obama admin era) and when the Dollar Menu was the Dollar Menu and not the Dollar Menu & More Menu. Also the 5 dollar footlongs and milk under $1.50 a gallon.
Also, interest rates must be raised, because right now buyers just don't have a chance to buy a house at a fair price. Responsible, low-risk savers don't even have an opportunity to earn interest on their hard-earned money in the bank. Just unfair.
As president I would set a mandatory Fed interest rate floor at 3% via executive order. We need more foreclosures and less irresponsible borrowing because right now there is almost zero inventory. Trump ed up the economic cycle's natural ebb and flow because the natural ebb / trough was coinciding with his bid to get re-elected. Stupid stimulus crap. Trump is a hypocritical idiot
With regard to McDonald's, I think this is also a big misconception.
Most McDonalds and other "corporate" restaurant chains that get used in these conversations are franchise based. While there are some restaurant groups that own hundreds or thousands of franchise locations, there are many other instances where the McDonald's you go to may be owned by some local guy. This is especially common in rural areas.
They pay Franchise dues and food costs, and they're often required to keep prices below a normal level of profitability because of requirements by the franchisor. And unless they're in a populous area, they might only bring in $5K-$10K of business a week, which is fine based on the cost of living in those places. But asking those people to pay their staff $23 an hour, or even $15 an hour, is ludicrous. At $23 an hour it's not unlikely they'd be paying a cook more than they make themselves. People love to say "Well if you can pay the CEO $23 bajillion dollars you can pay a dishwasher $23/hour" but those paychecks aren't coming from the same pool of money.
Meanwhile, we all love to talk about supporting local, but someone with enough expertise in food, marketing and branding, to start their own original restaurant concept is probably making a lot more money than your rural Dairy Queen owner in Gun Barrel City, TX (especially when they sell their restaurant concept to a larger firm).
Last edited by Spurminator; 01-20-2021 at 01:29 PM.
There should be federal standards for minimum wage versus cost of living, but the actual amount should be determined by municipalities.
yep
even $15/hour nationwide isn't good policy imo
I don't know about that. There should be a floor, IMO. In an ideal world, you would index the minimum wage with inflation, otherwise, employees are always getting the short end of the stick.
Wish more democrats thought like you tbh.
Minimum wage should be jurisdiction to jurisdiction. Not state to state or especially at the federal level. I'm not a fan of any federal minimum wage, but keeping the $7.25 federal minimum is okay I guess.
But obviously in a place like San Francisco a $25/hour W2 minimum wage would make sense
there should be a floor, but as spurminator pointed out, that floor could vary by locality. so the nationwide floor ideally would only be as high as the lowest locality. i dont know that $15/hr makes sense everywhere based on cost of living
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