Democrats getting a lesson in Economics 101

[Anonymous]

Also, OP. Democrats understand economics perfectly. They know that trickle-down hasn't ever worked.

[Anonymous]

Anonymous wrote:So, if the burger flipper is making $20/hr, everyone "above" him/her will also need a wage increase.
This is just stupid. Minimum wage jobs are not intended to support a family. Never have been.

I hope CA soon learns the ramifications of such a dumb move. Sad thing is, the people of Ca will suffer as a result.
Another reason dear Gavin will never be president. We don't want to make the US California. He has screwed up everything he has touched.

And, Gavin seems to have ensured that HIS businesses are exempt......

California’s fast food franchisees must hike their minimum wage to $20 an hour under a law Gov. Gavin Newsom (D.) hailed as "extraordinarily beneficial." His own luxury restaurants, meanwhile, are paying their workers less.

Active job listings for Newsom's PlumpJack Cafe, which touts its status as "Lake Tahoe's premier dining destination," advertise "busser," "host," "server," and "food runner" positions with $16 hourly wages. The restaurant is located steps from Palisades Tahoe—California's top ski resort—and features a full bar, fine wines including a $5,300 bottle of Burgundy, and high-priced entrees. Pan-roasted Norwegian salmon, for example, costs $49, while the prime New York strip costs $67.

Another Newsom-owned restaurant—the Balboa Cafe, located in San Francisco's fashionable Marina district—is also hiring. The restaurant seeks an "on-call cocktail server" for $18.07 per hour, according to an online posting. The cafe also offers a full bar and an array of luxury items, including a $38 charcuterie board, $27 wild mushroom risotto, $24 "mussels mariniere," and a $38 filet mignon.

The restaurants' hiring sprees come as the Newsom-backed fast food minimum wage law, which took effect Monday, prompts layoffs and price hikes across California. Starting this month, pizza chains will permanently fire hundreds of workers, state records show. Burger King and other fast food franchises responded to the law by raising prices.

And yet, we have millions of Americans who are working one, two or three minimum wage jobs trying to make ends meet. Go figure.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Maybe if corporations could reduce the compensation of CEOs and shift that pay to the people who actually do the hard work, they wouldn’t have to raise prices.

This seems like the obvious solution to me. No one’s labor is worth 10s of millions a year. No one’s.

I agree but I’ll take that over what socialism would eventually do to this country.

A tax code that doesn’t favor the wealthy and corporations is not socialism.

Please stop with this mythical Dem talking point. The tax code doesn’t favor the wealthy. Just the opposite.

The top 50% of earners in America pay 97% of federal income taxes.

https://taxfoundation.org/data/all/federal/latest-federal-income-tax-data-2024/

The top 1% of earners pay 45% of federal income taxes.

“Their study showed that the top 10 percent of U.S. taxpayers paid a larger share of the tax burden than their counterparts in other countries and our poorest taxpayers had the lowest income tax burden compared to poor taxpayers in other countries due to refundable tax credits such as the Earned Income Tax Credit and the Child Tax Credit.”

That is because the bottom 50% of earners aren't even making enough to make ends meet. They pay sales tax and through their rent, property tax and these are disproportionate and regressive. The main problem is, the tax code, with capital gains breaks, stepped up basis at death etc allows the wealthy to consolidate their wealth and pass it ALL on.

I have no problem with wealthy people saving and passing on, but there has to be some sort of limit. Exempt, what, the first 10 million? That should cover the mythical family farm or family business. Hell, even take it to 20 or 25 million. But after that, there should be taxes on the estates. No one should be born with a billion dollar trust fund and then end up like the Oligarchs in this country.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Fast food restaurants in California are raising prices and laying off workers since the $20 minimum wage for FF workers into effect on April 1st. What did they expect? That restaurants would pay this wage and graciously not raise prices? Those jobs were never meant to provide a living wage. Just causes more inflation and those workers are right back to where they were. Let’s see how many of those workers come off social safety net programs with the higher wages. I’m betting very few. Why don’t democrats understand how capitalism works?

Teachers are quitting because they can make more money flipping hamburgers than trying to educate your stupid brats with the added plus of not having to deal with entitled parents.

Not in Fairfax County. They aren't making more money flipping burgers than teaching... not even close. Sorry about your BS.

All teachers are grossly underpaid. Starting salary for a teacher of any grade should be $100,000.

Based on what?

[Anonymous]

Anonymous wrote:Fast food restaurants in California are raising prices and laying off workers since the $20 minimum wage for FF workers into effect on April 1st. What did they expect? That restaurants would pay this wage and graciously not raise prices? Those jobs were never meant to provide a living wage. Just causes more inflation and those workers are right back to where they were. Let’s see how many of those workers come off social safety net programs with the higher wages. I’m betting very few. Why don’t democrats understand how capitalism works?

I'm sure they'll do pretty good since inexpensive labor is in high demand. Teen Babysitters get paid $30/hr in CA

[Anonymous]

Anonymous wrote:McDonalds CEO
~$20M 2023
"Overall, Kempczinski’s total compensation was 1,212 times median employee pay last year, according to the filing."
https://www.restaurantbusinessonline.com/financing/mcdonalds-ceo-chris-kempczinski-got-raise-last-year#:~:text=He%20was%20paid%20a%20base,than%20he%20received%20in%202022.

Taco Bell CEO
~5.3M 2022
https://www1.salary.com/Mark-King-Salary-Bonus-Stock-Options-for-YUM-BRANDS-INC.html

Starbucks CEO
$14M 2023
"STARBUCKS SAYS RATIO OF CEO’S ANNUAL TOTAL COMPENSATION TO MEDIAN EMPLOYEE’S ANNUAL TOTAL COMPENSATION FOR FISCAL YEAR 2023 IS 1,028 TO 1"
https://www.xm.com/research/markets/allNews/reuters/starbucks-says-ceo-laxman-narasimhans-2023-total-compensation-was-146-mln-versus-88-mln-in-2022-53736352#:~:text=O%3A-,STARBUCKS%20SAYS%20CEO%20LAXMAN%20NARASIMHAN'S%202023%20TOTAL%20COMPENSATION%20WAS%20%2414.6,2023%20IS%201%2C028%20TO%201

Wendy's CEO
$8M 2022
https://www1.salary.com/Todd-A-Penegor-Salary-Bonus-Stock-Options-for-WENDYS-CO.html

Do they do 1,212 times the work? No, no they don’t.

[Anonymous]

Anonymous wrote:

Anonymous wrote:So, if the burger flipper is making $20/hr, everyone "above" him/her will also need a wage increase.
This is just stupid. Minimum wage jobs are not intended to support a family. Never have been.

I hope CA soon learns the ramifications of such a dumb move. Sad thing is, the people of Ca will suffer as a result.
Another reason dear Gavin will never be president. We don't want to make the US California. He has screwed up everything he has touched.

And, Gavin seems to have ensured that HIS businesses are exempt......

California’s fast food franchisees must hike their minimum wage to $20 an hour under a law Gov. Gavin Newsom (D.) hailed as "extraordinarily beneficial." His own luxury restaurants, meanwhile, are paying their workers less.

Active job listings for Newsom's PlumpJack Cafe, which touts its status as "Lake Tahoe's premier dining destination," advertise "busser," "host," "server," and "food runner" positions with $16 hourly wages. The restaurant is located steps from Palisades Tahoe—California's top ski resort—and features a full bar, fine wines including a $5,300 bottle of Burgundy, and high-priced entrees. Pan-roasted Norwegian salmon, for example, costs $49, while the prime New York strip costs $67.

Another Newsom-owned restaurant—the Balboa Cafe, located in San Francisco's fashionable Marina district—is also hiring. The restaurant seeks an "on-call cocktail server" for $18.07 per hour, according to an online posting. The cafe also offers a full bar and an array of luxury items, including a $38 charcuterie board, $27 wild mushroom risotto, $24 "mussels mariniere," and a $38 filet mignon.

The restaurants' hiring sprees come as the Newsom-backed fast food minimum wage law, which took effect Monday, prompts layoffs and price hikes across California. Starting this month, pizza chains will permanently fire hundreds of workers, state records show. Burger King and other fast food franchises responded to the law by raising prices.

And yet, we have millions of Americans who are working one, two or three minimum wage jobs trying to make ends meet. Go figure.

Americans? Or illegal immigrants?

If they are Americans.... there are plenty of opportunities for people to find jobs and careers in areas that pay far more than minimum wage. It takes hard work, a bit of effort, and a willingness to defer gratification (i.e stop unnecessary spending and hold off on starting a family until you can support one). And, a basic education.

[Anonymous]

This is going to kill small Mom and Pop businesses.

[Anonymous]

[Anonymous]

WATCH: A Los Angeles restaurant owner blasts Democrat California Governor Gavin Newsom explaining how a $20 minimum wage in restaurants will destroy mom & pop shops:

"I hope the United States is watching. I hope he never becomes president. This man is destroying California. I don’t understand why people can’t see that he is the biggest trickster of all time!"

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Maybe if corporations could reduce the compensation of CEOs and shift that pay to the people who actually do the hard work, they wouldn’t have to raise prices.

This seems like the obvious solution to me. No one’s labor is worth 10s of millions a year. No one’s.

I agree but I’ll take that over what socialism would eventually do to this country.

A tax code that doesn’t favor the wealthy and corporations is not socialism.

Please stop with this mythical Dem talking point. The tax code doesn’t favor the wealthy. Just the opposite.

The top 50% of earners in America pay 97% of federal income taxes.

https://taxfoundation.org/data/all/federal/latest-federal-income-tax-data-2024/

The top 1% of earners pay 45% of federal income taxes.

“Their study showed that the top 10 percent of U.S. taxpayers paid a larger share of the tax burden than their counterparts in other countries and our poorest taxpayers had the lowest income tax burden compared to poor taxpayers in other countries due to refundable tax credits such as the Earned Income Tax Credit and the Child Tax Credit.”

[Anonymous]

Anonymous wrote:McDonalds CEO
~$20M 2023
"Overall, Kempczinski’s total compensation was 1,212 times median employee pay last year, according to the filing."
https://www.restaurantbusinessonline.com/financing/mcdonalds-ceo-chris-kempczinski-got-raise-last-year#:~:text=He%20was%20paid%20a%20base,than%20he%20received%20in%202022.

Taco Bell CEO
~5.3M 2022
https://www1.salary.com/Mark-King-Salary-Bonus-Stock-Options-for-YUM-BRANDS-INC.html

Starbucks CEO
$14M 2023
"STARBUCKS SAYS RATIO OF CEO’S ANNUAL TOTAL COMPENSATION TO MEDIAN EMPLOYEE’S ANNUAL TOTAL COMPENSATION FOR FISCAL YEAR 2023 IS 1,028 TO 1"
https://www.xm.com/research/markets/allNews/reuters/starbucks-says-ceo-laxman-narasimhans-2023-total-compensation-was-146-mln-versus-88-mln-in-2022-53736352#:~:text=O%3A-,STARBUCKS%20SAYS%20CEO%20LAXMAN%20NARASIMHAN'S%202023%20TOTAL%20COMPENSATION%20WAS%20%2414.6,2023%20IS%201%2C028%20TO%201

Wendy's CEO
$8M 2022
https://www1.salary.com/Todd-A-Penegor-Salary-Bonus-Stock-Options-for-WENDYS-CO.html

McDonalds CEO should give up his salary and it should be redistributed to the workers, who would each receive $11 more a month.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Maybe if corporations could reduce the compensation of CEOs and shift that pay to the people who actually do the hard work, they wouldn’t have to raise prices.

This seems like the obvious solution to me. No one’s labor is worth 10s of millions a year. No one’s.

I agree but I’ll take that over what socialism would eventually do to this country.

A tax code that doesn’t favor the wealthy and corporations is not socialism.

Please stop with this mythical Dem talking point. The tax code doesn’t favor the wealthy. Just the opposite.

The top 50% of earners in America pay 97% of federal income taxes.

https://taxfoundation.org/data/all/federal/latest-federal-income-tax-data-2024/

The top 1% of earners pay 45% of federal income taxes.

“Their study showed that the top 10 percent of U.S. taxpayers paid a larger share of the tax burden than their counterparts in other countries and our poorest taxpayers had the lowest income tax burden compared to poor taxpayers in other countries due to refundable tax credits such as the Earned Income Tax Credit and the Child Tax Credit.”

You clearly don’t understand what the quoted passage is saying. It’s telling you income disparities are much greater here. The reason the top 10% in the US paid a larger share of the tax burden is that they earn far more than the top 10% in other countries.

[Anonymous]

Wait, WHO printed all that money during 2020? Ppp loans? Ertc? Who was potus???

[Anonymous]

Anonymous wrote:This is going to kill small Mom and Pop businesses.

Only if mom and pop don't know how to do math. Again labor cost in fast food is usually only 25-30% of the product cost and raising wages from $16 an hour to $20 an hour only works out to about $0.35-$0.40 on a $5 item.