Loading ...Very well said on that. I know exactly how you feel. This part below was thought provoking.
Re your:
“A business man must invest his AFTER TAX SAVINGS or BORROWED MONEY for which he has probably given a personal guarantee in order to create that job !”
Comment:
The stupid gov’t media keeps saying how puzzled they are about a lack of small startup businesses even after giving tax incentives. I remember back in the 1960s and into the 1970s many of my manufacturing coworkers and myself, started our own businesses.
It was EASY back then, because the PURCHASING POWER of the standard base minimum wage was far higher than these days. Plus a shortage of workers (we made everything here, mom home with kids) so there was always plenty of over time pay if you wanted it.
Big publically held businesses were constantly complaining about wages being too high.
But getting paid far more than we needed each week, caused a build up of savings accounts, which in turn enabled many employees to start their own businesses without borrowing money FIRST which is risky. You probably know what I mean.
If you listen close to the corporate gov’t media lately, they are admitting wages (and hence taxes) are too low to support everything. Ultimately…..
All foreign and domestic gov’ts, all countries exporting to USA like China, and all gov’t employees and gov’t vendors, ALLLLLL depend on the wages of tax PAYERS to profit and or support gov’t spending.
They are “on to the problem” since 2008, and they know hurting themselves financially with higher wages (give backs) is the only solution to rebalance the situation. Higher wages I know are a net tax on businesses. Survival of the fittest.
The profitable well run businesses will prosper. The other ones just barely hanging on thanks to low wages will go under. No more “subsidy”. Minimum wage today needs to be $22/hr to be equal to the 50s 60s and up to ’75.
But the entire US workforce average is $22.hr. Even with 100% employment, if the average pay is too low, the economy is weak like a 20% unemployment rate.