Hillary Clinton has said, Dont let anybody tell you that, you know, its corporations and businesses that create jobs. Good grief! What a stupid thing to say, even for a Democrat! I have a Business degree, though I have never really used it, but you do not need a business degree to know that corporations and businesses do, in fact, create jobs. Does Hillary think jobs grow on trees? Also, almost any rational businessman will tell you that a minimum wage increase will hurt job growth, especially in a slow economy. Labor is almost like anything else you buy; if the cost goes up, you buy less of it. Thats common sense. If the minimum wage goes up, not only will some companies not hire people, some may even fire people. Instead of having five waitresses working a shift, a restaurant may decide they can get by with having just four. Here is an example: If a company employs ten people at $7 per hour, and each employee works 2,000 hours a year (40 hours a week times 50 weeks), the labor cost for one year is $140,000. If the owner of that company makes a profit of $50,000 a year after paying labor cost and all the other costs of running the company, what will happen if the minimum wage goes up just $1 to $8 an hour? The labor cost will go up from $140,000 a year to $160,000, leaving the owner of the company will a profit of only $30,000 instead of $50,000. What do you think the company owner will do? He may decide that he can get by with nine employees instead of ten. https://youtube/watch?v=1nbFYP3xB6k
Posted on: Mon, 27 Oct 2014 15:43:57 +0000
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