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Minimum Wage

Let’s see

So govt wipes out personal debt
Taxpayers foot the bill
Irs pays a visit to those whose debts are forgiven
Now they have to pay the tax to the govt

Looks like a money laundering scam!
 
Let’s see

So govt wipes out personal debt
Taxpayers foot the bill
Irs pays a visit to those whose debts are forgiven
Now they have to pay the tax to the govt

Looks like a money laundering scam!
Gov already owns the loans. This was an Obama special. They federalized loan service. It’s not money laundering. It’s buying votes. The party that does that has a very easy sell. External blame. Gov handout to help.

The student loan one is particularly egregious as the debt was optional. College grads are a minority of the population and typically have higher earning potential. Many college grads have actually paid their student loans. So, it’s a massive vote buying scam at taxpayer expense to people who are a higher ses typically than average. It’s enough of an affront that, to me, it should be criminal.


Straight up deficit spending of taxpayer money to buy swing state votes. Morally repugnant.
 
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Laissez faire doesn’t work. It’s why the military and educators are underpaid.

Any billionaire could wipe out consumer debt in the US. Do the math.

Laissez faire and deregulation have damaged this country. Just read about the profit margins over the last 20 years.


Of course, if you discuss this with a broker, pharma exec, banker, etc., they’ll ignore it, but look at the profits made in the last 20 years., and look at who benefited and who did not.

Just for context, and I truly hope no one has to experience it, it’s a whole different world when you go from one of the elite to just being “like everyone else”.
It never occurred to me you were a socialist/Marxist/statist (choose one or more).

1. Total compensation, when you include the total of monetary and non-monetary comp, is much higher for the military and education than you have been led to believe. And when supply and demand become unbalanced, compensation goes up. We have a combination free market / regulated economy. Most (not all) regulations distort market pricing, which is a net disadvantage for the country. (I also believe that educators are mostly overpaid based on what they produce. That's a longer conversation.)

2. Total U.S. consumer debt is now $17.3 TRILLION. That is 1,730 billions. That is greater than the combined wealth of the top 20 billionaires in the U.S.

3. Lower profit margins are a direct result of competition, which lowers prices, and of regulations, which increase costs. High profit margins almost always bring more competition into the market, which lowers prices. As Jeff Bezos famously said, "your margins are my opportunity."

4. Of course there is a big difference between "the elite" and "everyone else." Read Thomas Sowell's "5 quintiles" research to learn the surprising economic mobility America has produced which is the envy of the world. It doesn't deal with "the elite" directly, but it is great context.
 
Teachers are underpaid because the profession has been historically associated as being a “woman’s job”. That’s the number one reason.
The military gets a lot of funding but is also plagued IMO by waste and corruption. And by other issues that we don’t seem to want to be honest about.
Both male and female teachers are unionized. They receive the same union pay per the union contract.

There is not doubt that military spending - like all government spending - is likely 40% or higher "waste, fraud, and abuse." But I'm not sure that effects military pay.
 
There are a lot of teachers. Supply and demand plays a role. Primary funding source is gov. Private schools actually pay less, typically. Even then, there are often good benefits and the combination of pay and flexibility isn’t bad. In fact, teachers are amongst the most common jobs in those with 1 percentile networths.

Military can be pretty lucrative, even as an enlisted type. Training, tax benefits, pension, access to post military civilian jobs. Even for the blue collar type military position. Do your 20 years. You’re done at 38. Do another 20 years of a VA job. You’re done at 58. You’ve got 2 pensions worth the equivalent of 7 figures, plus tsp if you’ve used it and lifetime healthcare. Hard to replicate that in the civilian sector with minimal skills. Same for marginal college types. People who got through college. Have no idea what they want to do for a career. Weren’t great students. Not really competitive for college level jobs outside of hr or office work. Let the military steer. All of the sudden, you’re an officer. It can be a complete life turn around.
All excellent points. Good post.
 
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There are a lot of teachers. Supply and demand plays a role. Primary funding source is gov. Private schools actually pay less, typically. Even then, there are often good benefits and the combination of pay and flexibility isn’t bad. In fact, teachers are amongst the most common jobs in those with 1 percentile networths.
Huge teacher shortage going on across the nation.... some states hit more than others. When you take a deep look at the profession's benefits and pension, they aren't really very good... health care is ok.
The northern states are heavily unionized and tend to have better pay and benefits, but the cost of living is higher.... the profession is in real trouble.... as is the state of public education in general.
 
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Huge teacher shortage going on across the nation.... some states hit more than others. When you take a deep look at the profession's benefits and pension, they aren't really very good... health care is ok.
The northern states are heavily unionized and tend to have better pay and benefits, but the cost of living is higher.... the profession is in real trouble.... as is the state of public education in general.
Sure. But, I don’t think it’s all a compensation issue. There are some serious ideological and demographic problems in public schools in many areas of the country today. Chicago public school teachers are paid pretty well. Wouldn’t want to send your child to one.

A professor I was stuck talking to for four hours in a van once marveled to me, in a positive way, about 130 different primary languages present in an elementary school in his old neighborhood Brooklyn public school. Cool. But, how do you have a good teaching environment in that kind of space?

I’ve worked in “f” schools before (not as a teacher). It’s hopeless. And, it’s not because of teacher quality or effort. 99 percent on free lunch and breakfast. No parental involvement. Single parent homes or worse.
 
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Both male and female teachers are unionized. They receive the same union pay per the union contract.

There is not doubt that military spending - like all government spending - is likely 40% or higher "waste, fraud, and abuse." But I'm not sure that effects military pay.
There are a lot of areas within military spending that could be considered fraud, waste or abuse in other circles or by those that don't understand how the system works. Most military spending is in the R&D and acquisition arena. This is where you see the 600-dollar toilet seat stories. When you get closer to the business end of the spear a lot of that opportunity goes away. You just don't have access to the funds at that level. The reason you have 600-dollar toilet seats and 500-dollar hammers vary. Sometimes they pay for covert and black operation or false flag type things. These are normally kept off the books. Then there are the classified type things that money gets redirected to. Military pay comes from a different pot of money.

I'm not saying there isn't a fair share of mis appropriation, but I don't think it's as rampant as folks think either.
 
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There are a lot of teachers. Supply and demand plays a role. Primary funding source is gov. Private schools actually pay less, typically. Even then, there are often good benefits and the combination of pay and flexibility isn’t bad. In fact, teachers are amongst the most common jobs in those with 1 percentile networths.

Military can be pretty lucrative, even as an enlisted type. Training, tax benefits, pension, access to post military civilian jobs. Even for the blue collar type military position. Do your 20 years. You’re done at 38. Do another 20 years of a VA job. You’re done at 58. You’ve got 2 pensions worth the equivalent of 7 figures, plus tsp if you’ve used it and lifetime healthcare. Hard to replicate that in the civilian sector with minimal skills. Same for marginal college types. People who got through college. Have no idea what they want to do for a career. Weren’t great students. Not really competitive for college level jobs outside of hr or office work. Let the military steer. All of the sudden, you’re an officer. It can be a complete life turn around.
"Hard to replicate that in the civilian sector with minimal skills."

So, are you saying all military have minimal skills or just the "blue collar" types? I did 24 years as an "enlisted type" but the job wasn't what I would call blue collar, well maybe the first 5 or 6 years was. Many military types are highly skilled and educated. The days of the dumb enlisted soldier getting out and working at a gas station are long gone. Many companies jump all over 38-year-olds with years of management, leadership and technical training in computer science, electronics, logistics and other fields. Many of these have high level security clearances and college degrees which is valuable in the job market.

The numbers of retirees isn't what you think either. About 17% of those that enter the military make it 20 years and collect a pension. I was privileged enough to have been able to serve that long collect a pension, but I do need to find where that easy access post military VA job is. I know folks that waited years to get in the federal government without any luck. Most go the contractor route or get a regular job like everyone else.
 
"Hard to replicate that in the civilian sector with minimal skills."

So, are you saying all military have minimal skills or just the "blue collar" types? I did 24 years as an "enlisted type" but the job wasn't what I would call blue collar, well maybe the first 5 or 6 years was. Many military types are highly skilled and educated. The days of the dumb enlisted soldier getting out and working at a gas station are long gone. Many companies jump all over 38-year-olds with years of management, leadership and technical training in computer science, electronics, logistics and other fields. Many of these have high level security clearances and college degrees which is valuable in the job market.

The numbers of retirees isn't what you think either. About 17% of those that enter the military make it 20 years and collect a pension. I was privileged enough to have been able to serve that long collect a pension, but I do need to find where that easy access post military VA job is. I know folks that waited years to get in the federal government without any luck. Most go the contractor route or get a regular job like everyone else.
I didn’t say easy, just that the military is a different sort of path with some substantial benefits over private sector given certain attributes. The military will steer for you, match your raw ability to a career trajectory. If you’ve got some capacity but lack direction, the military can be a helluva jolt of organization to your career development.

I’m sure you’ve encountered many examples of this. The marginal college grad with a whatever studies degree, who is listless, maybe likes to party a little. Enters the military. Goes to flight school. Becomes a helicopter pilot, and climbs up the ranks as an officer to a respectably well compensated career, with status, and post military options. Don’t know what would have happened had this particular example not gone into the military but I doubt it would have been a great outcome. I’ve got several examples of this type of thing in my extended network socially.
 
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I didn’t say easy, just that the military is a different sort of path with some substantial benefits over private sector given certain attributes. The military will steer for you, match your raw ability to a career trajectory. If you’ve got some capacity but lack direction, the military can be a helluva jolt of organization to your career development.

I’m sure you’ve encountered many examples of this. The marginal college grad with a whatever studies degree, who is listless, maybe likes to party a little. Enters the military. Goes to flight school. Becomes a helicopter pilot, and climbs up the ranks as an officer to a respectably well compensated career, with status, and post military options. Don’t know what would have happened had this particular example not gone into the military but I doubt it would have been a great outcome. I’ve got several examples of this type of thing in my extended network socially.
Your right in that example. I know some that took that path and excelled in that environment. Direction and motivation are funny things. Not a path for everyone but it can be a very nice nest egg if you can manage the wickets.
 
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I didn’t say easy, just that the military is a different sort of path with some substantial benefits over private sector given certain attributes. The military will steer for you, match your raw ability to a career trajectory. If you’ve got some capacity but lack direction, the military can be a helluva jolt of organization to your career development.

I’m sure you’ve encountered many examples of this. The marginal college grad with a whatever studies degree, who is listless, maybe likes to party a little. Enters the military. Goes to flight school. Becomes a helicopter pilot, and climbs up the ranks as an officer to a respectably well compensated career, with status, and post military options. Don’t know what would have happened had this particular example not gone into the military but I doubt it would have been a great outcome. I’ve got several examples of this type of thing in my extended network socially.
Partially agree, but you don't just join the military and go to flight school.
 
Partially agree, but you don't just join the military and go to flight school.
Agree. You have to take aptitude tests, do well in a variety of hurdles. My point was not that people lack ability.
 
Let’s see

So govt wipes out personal debt
Taxpayers foot the bill
Irs pays a visit to those whose debts are forgiven
Now they have to pay the tax to the govt

Looks like a money laundering scam!
Government could just call it a taxable benefit like a paid move and send them a W2 for it. That amount of debt that was paid is now income for that year and you owe taxes. Admin gets the votes they want and the taxes on all that debt. 7 billion in student loan debt x 22% = 1.5 billion in tax revenue that they wouldnt have had otherwise. Although we all know that's not where the money will go. It will fund some other social program.
 
All of the In-N-Outs near me have had "Now Hiring at $20+/hr" banners for years. Just another reason that they are the best fast food spot.

What are their current prices for a meal?

We don’t have in and out here in the Midwest
 
Government could just call it a taxable benefit like a paid move and send them a W2 for it. That amount of debt that was paid is now income for that year and you owe taxes. Admin gets the votes they want and the taxes on all that debt. 7 billion in student loan debt x 22% = 1.5 billion in tax revenue that they wouldnt have had otherwise. Although we all know that's not where the money will go. It will fund some other social program.
They also won’t charge the taxes. If they did, there would be a lot of screaming about inequity.
 
All of the In-N-Outs near me have had "Now Hiring at $20+/hr" banners for years. Just another reason that they are the best fast food spot.
Not sure that has anything to do with being the best. They have superior processes that removes variation and adds to the product's overall quality. The Chic Filet version of a burger. Also Culvers is just as good as In and Out IMO.
 

Use of 1 business in one state. great sample size. Brilliant work lil' dude.
Mcdonald's in Denmark... How about the minimum wage at a McDonald's in Tibet... or Croatia? Pure comedy.
Obviously a post from someone who has never run a business and probably who has never worked a day in his life... (muffled laughter)
 
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Use of 1 business in one state. great sample size. Brilliant work lil' dude.
Mcdonald's in Denmark... How about the minimum wage at a McDonald's in Tibet... or Croatia? Pure comedy.
Obviously a post from someone who has never run a business and probably who has never worked a day in his life... (muffled laughter)
Who, Belem? Isn’t he like an HR clerk or something?

But, more seriously, the cross country analysis is kind of irrelevant.
 
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Who, Belem? Isn’t he like an HR clerk or something?

But, more seriously, the cross country analysis is kind of irrelevant.
Don't know what he does, but its clear he has no knowledge or practical experience in the business world. Dudes like that are followers of an ideology and they will distort, omit, or falsify economics, history, etc.. to back up that ideology. You're absolutely right that "cross country analysis" is kind of irrevelant but facts and accuracy are conveniently discarded if they counter the ideology.
 
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Use of 1 business in one state. great sample size. Brilliant work lil' dude.
Mcdonald's in Denmark... How about the minimum wage at a McDonald's in Tibet... or Croatia? Pure comedy.
Obviously a post from someone who has never run a business and probably who has never worked a day in his life... (muffled laughter)
The argument was made that raising the rate to $20 would drive up cost of food. The examples show that doesn't have to be the case.
Let me know if I can help you understand anything else.
 


According to this article the price of a double double is 4.90 likely before the wage increase from what it says. According to your article the price of a burger will rise .25 cents but not drastically which is subjective. Thats a 5% increase right out of the gate and likely not the last increase. They are not just going to eat the increase.
 
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According to this article the price of a double double is 4.90 likely before the wage increase from what it says. According to your article the price of a burger will rise .25 cents but not drastically which is subjective. Thats a 5% increase right out of the gate and likely not the last increase. They are not just going to eat the increase.
You're right, you probably know more about this than the owner. I concede.
 
I was going to say $5-10, but I usually don't get a drink. I will drop by my local one for lunch today and snap a picture of the menu. Regardless, it's by far the best bargain for a very tasty, satisfying meal.
You can pay 11 bucks for a Big Mac meal in most places and its not good. Prices will rise but In and Out is good value for the quality of the food.
 
It's subjective, of course, but I do not think that Culver's is as good as In-N-Out. I put them in the same tier as Chick-FIl-A and Shake Shack. More controversially, I also put Whataburger in that tier. To be clear, that's the "very good" tier, and I consider that esteemed company. It's just not the In-N-Out tier.

Regarding In-N-Out, overall, I just really like them for a lot of reasons. Of course, the food is delicious and cheap and kept me alive through grad school when I was making less than $20K/year in one of the most expensive cities in the world. They have also provided steady, enjoyable employment for a lot of my students while they were in college over the years. I also just generally like the aesthetic and seeing one in a neighborhood or along the freeway brings a smile to my face.
I like a good burger. In n out is fine. But, largely not present in my world, and not mind blowing. Of the chains, I like Culver’s.

Back in the day, the best chain burger I had was a Miami based store called Rudy’s. They lasted a while but went under. Great fries too.

 
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