DawgTalkers.net Forums DawgTalk Palus Politicus Trump's Economy is Bad News for Dems (Socialists)

I know Arch, it was meant for Pit. Sorry my mistake of not attaching his name.

But for years we've heard that if you give every low level employee a $7/hour raise to make, ship, and sell goods and services, the cost of those goods and services, won't go up much at all...

Some have even insinuated that the corporations should pay them more, not raise prices, and just accept less profit...

Now we are finding out that every penny spent to make, ship, sell, install something gets passed on the to the final consumer... interesting.

While it will result in an increase in prices, not nearly to the extent that it won't help the workers. Wages are only one portion of the cost that a business pays. As an example, in fast food they have the food products themselves, utilities and all sorts of other overhead.

So while a pay increase will cause costs to rise, workers pay is only a fraction of the cost of business.

Labor costs for the fast food industry is about 25-30% of sales so I guess 1/4 -1/3 are fractions.

my labor costs are 30-40% so we can convert those to fractions also. Now, if i have guys laying floor tiles they get $3 a sq. ft. Thats usually equal to the cost of tile..want that converted to a fraction?

Exactly. In fast food 70% of their actual costs will not be impacted by labor.

Correct but it is definitely more than I think you're crediting to doing business. 30% labor 30% food 15-20% overhead and rest is profit.

my business in a nutshell; 40% labor 25% material 12% advertising 15% overhead and profit is left

Are you paying your help minimum wage? In the construction field I don't think so. Your percentages are higher due to paying higher wages. I bet if you paid your help less than 10$ an hour the percentage of your labor cost would be lower.

I bought an American flag once that was made in Bangladesh.

Cost doesn’t set sales price of an item. (in a capitalist economy).

It doesn’t matter what the labor cost is or the raw material cost or the overhead costs.

Price is set by what consumers are willing to pay.

When I buy a music headset (for example), I don’t care what it cost to make. Only what I gotta pay.

Increased wages causes inflation because the workers have more money (dollar bills) to spend.

Charlie Munger: Trump is not primarily responsible for US economic success

https://finance.yahoo.com/news/charlie-munger-trump-120000112.html

Old rich white guy hating on another old rich white guy? Or truth?

You are correct and glad you pointed that out. We can go on for 100 pages on pricing but don't want to go that deep. However, costs do have a basis in pricing and you need to know your numbers.

The numbers are posted are on builder grade products. To be competitive and in your S.W.O.T. analysis, costs have everything to do with pricing. In my business breakdown a few of those percentages will change like material %. Builder grade tile or even wood flooring is around $2 a sq ft. We have flooring materials that go up to $15 a sq ft. Labor costs don't change.

When you said pricing is based on what people are willing to pay, I say that every time a homeowner tells me what their home is worth. Great point Rocky!

He's gone a little senile at 95 yrs old. I don't agree with the NATURAL cycle of economics. I agree Trumps predecessors made decisions that they deserve credit for. I give Obama props for starting the recovery. Trump injected a shot of energy to speed it up.

Bush was a complete idiot to me so I'm biased and give him credit for NOTHING... but that's just me

If by shot of energy you mean a huge tax cut that mostly went to the rich which further increased our deficit, then yes. We're getting what he didn't pay for.

A huge tax cut that has spurred our economy, providing us with jobs and put money in our pockets, 401K's and boosted the coffers of Pension Plans everywhere?

Now that is what I call a shot of energy!

'We are shooting ourselves in the foot': Business groups, farmers urge Trump not to slap new tariffs on China

https://news.yahoo.com/apos-shooting-ourselves-foot-apos-172937557.html

I'm glad the article says that both businesses and consumers pay for the tariffs how bout you Pit? just playing, don't get your panties in a bunch.

I hate that our farmers are struggling even with the 12B in support from the gov. But dammit I hate the fact China is raping us. It's called a war for a reason and there will be collateral damage unfortunately.

I wish there was another way, I wish people would get behind this trade war and help each other out because if China would be FAIR, our farmers, businesses and consumers would be a hell of a lot better off.

We'll see what transpires tonight I guess

It’s funny that you brought up collateral damage.

Seeing as his daughter seems to be immune from any tariff hikes, ya know since her crap also gets made in China.

So how do you know she's immune? I haven't researched it so it's a serious question.

How dare you speak that way about Ivanka or anything related to her. She'll be the first woman president of the United States and you will vote for her.

Because all apparel got spared for the tariff hikes. This is also around the time she is getting trademarks from China as well

Running a business, while also having an unofficial role in the administration, going around the world represent the president.

Just smells funny that every move trump makes somehow doesn’t seem to affect his or his children’s business dealings.

The most damaging thing the trump administration can do to China is raise tariffs on clothing.....yet he doesn’t.

Stop it TB

No clothing lines are affected by tariffs

So you singled out Ivanka but no clothing lines were affected by tariffs.

I did read somewhere that clothing lines are part of new tariffs if imposed Friday so I'm sure she'll be included. If not, I'll support your cry for impeachment cuz that will be BS!

Hey Pit, your clothes should be safe man

Clothing to be included

She won't be safe anymore.

This was literally my first sentence. Lmfao

And then I provided context as to why that is. Hey, if you don’t think the trump family is making mad cash right now, and abusing the system to get ahead, that’s on you.

I won’t be as gullible.

Ivanka to be hit by tariffs also

This article is from July 2018...don't know what happened

http://fortune.com/2018/07/09/donald-trumps-china-tariffs-dont-apply-to-ivanka/

July 2018

https://www.cnbc.com/2018/11/06/ivanka-trump-gets-initial-approval-from-china-for-16-trademarks.html

Her trademarks, while being a senior advisor.

But please, keep making even more excuses for nepotism. I can’t wait to hear them.

Yea I was looking crap up when you posted that lol.

Her handbags should have been hit, again, if she was exempted then I'll be on your side of impeachment.

Why shouldnt Ivanka get trademarks?

You do understand that she is a business woman, right?
Running multiple businesses, right?

That doesnt change because Daddy is in the whitehouse.

Daddy has her doing official government duties. She’s going around the world representing the administration, has her own damn office in the west wing, staff and all that nonsense.

Again, make excuses for nepotism all you want. I will not.

So?

She doesnt sell her business just because she has some temp Govt job.

What kind of idiot would do that.

She shouldn’t be in government period.

She can if she wants. Is there a law against it?

Once again, you and the others demonstrate that ethics no longer matter, it’s just about whether something is illegal or not.

So, she's not doing anything illegal.

And you have nothing.

Who said anything about it being illegal?

So ethics doesn’t matter to you? Such a low ass character.

You should be happy she has a Govt job.

Chances are pretty high that she is waaaaaaay smarter than Trump, and somebody has to guide him back onto the rails.

Plus she is getting experience for when she is Pres.

I’ve heard that narrative before.

And see no evidence to support it

Maybe in 10 years.

I really think Ivanka would make a great president. I don't know the details of her policies but if she were for personal liberties, capitalist economics, socially liberal values, I'd be all for that.

Ivanka\Candace Owens 2024!!!!!!!!!