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re: Shareholders' meeting 2014 - celeb watch, music, Chinese/Brit shenanigans
Posted on 6/6/14 at 3:56 pm to Person of interest
Posted on 6/6/14 at 3:56 pm to Person of interest
Did you add child support in there as well?
Look, I know things are tough, but the back bone of this country IMO is the entrepreneur and small business owners like myself. Some of us do well, some of us don't. It's a risk taken by starting your own thing.
What I do know, is that if minimum wage is raised, you can kiss half of us goodbye and then you can sit back and watch unemployment numbers sky rocket.
So what's more important? $7.25-$10 an hour, or $0 an hour and being on unemployment for the single mother?
During the summer I am slow. At one store for instance, I work two employees 25 hours each. So, 50 hours. I pay $8 an hour to these two. So I'm out $400 a week in wages, then figure about 10-15 each for workers comp. Now, if that we're $15 an hour I'm out $750 without figuring in workers comp. then you figure in all costs....
One week at $15 an hour employees
Labor: $750
Rent: $500
Electric: $100
Utilities: $150
Supplies: $65
Office Supplies: $35
Fuel: $125
Total: $1,725
And that's not even my break even point for that store. I've still not figured in bank fees, credit card processing fees, terminal lease fees, etc. so basically, with the raised wage my break even point would be roughly $2,200-$2,500 a week.
That's not leaving me much money for my pocket, especially during the summer.
Right now at one store, I've got roughly $95,000 in expenses each year. If wages were raised, that number shoots up $30,000 per year.
Look, I know things are tough, but the back bone of this country IMO is the entrepreneur and small business owners like myself. Some of us do well, some of us don't. It's a risk taken by starting your own thing.
What I do know, is that if minimum wage is raised, you can kiss half of us goodbye and then you can sit back and watch unemployment numbers sky rocket.
So what's more important? $7.25-$10 an hour, or $0 an hour and being on unemployment for the single mother?
During the summer I am slow. At one store for instance, I work two employees 25 hours each. So, 50 hours. I pay $8 an hour to these two. So I'm out $400 a week in wages, then figure about 10-15 each for workers comp. Now, if that we're $15 an hour I'm out $750 without figuring in workers comp. then you figure in all costs....
One week at $15 an hour employees
Labor: $750
Rent: $500
Electric: $100
Utilities: $150
Supplies: $65
Office Supplies: $35
Fuel: $125
Total: $1,725
And that's not even my break even point for that store. I've still not figured in bank fees, credit card processing fees, terminal lease fees, etc. so basically, with the raised wage my break even point would be roughly $2,200-$2,500 a week.
That's not leaving me much money for my pocket, especially during the summer.
Right now at one store, I've got roughly $95,000 in expenses each year. If wages were raised, that number shoots up $30,000 per year.
1
Posted on 6/6/14 at 4:43 pm to Hawgeye
It would seem that the best way to raise wages naturally would be to create more demand for labor, rather than increasing the supply of labor endlessly.
I wonder if any of these "raise minimum wage" folks have considered that un-restrained illegal and legal immigration is leading to the depression of wages.
I wonder if any of these "raise minimum wage" folks have considered that un-restrained illegal and legal immigration is leading to the depression of wages.
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