The next few years?

[Dan_AKA_ROY23]

If they get a fraction of the wish list ($15 minimum, medicare for all, Green deal, etc) we will see reduced jobs and a jump in inflation.

That's my worry. Plus at some point Biden will increase the corporate tax rate. Combine that and the minimum wage hike and it's like a double tax on businesses (increased stimulus should balance that out in the short to intermediate term. Longer term it will negatively catch up to them) Some will be much more impacted by a minimum wage hike than others. Fortune 500 companies can absorb it easily as most employees make more than $15/ hr. already. Machine shops should be fine (few make under $15/hr.). Its the tiny businesses like Pizza store owners would would suffer. My company I work for will take a bit of a hit as we have under $15 workers.

[CNCAppsJames]

The tax and minimum wage effect on manufacturing are my #2 concerns with the incoming administration. They are going to tax corporations and "the evil 'rich' guys" as well as rain down free shit with impunity. There will be a price to pay for that. And of course the leftist turdbirds will claim "we never thought that would happen".

[Tim Johnson]

[quote="Matthew Hajicek" post_id=3822 time=1610993804 user_id=57]

I had no debt for 3 years, but yet my credit score has gone down?

To raise or maintain a credit score you have to have debt that you're making payments on.  A typical solution is to use a credit card and pay it off every month.
[/quote]

The average length of a credit card loan is 25 days. You should pay it off every two weeks.

[Smit]

Some will be much more impacted by a minimum wage hike than others. Fortune 500 companies can absorb it easily as most employees make more than $15/ hr. already. Machine shops should be fine (few make under $15/hr.). Its the tiny businesses like Pizza store owners would would suffer. My company I work for will take a bit of a hit as we have under $15 workers.

I want to see the details of the proposed minimum wage hike. I expect there will be exemptions for very small business owners who honestly can't survive paying the minimum wage. I'm sure we can all agree it's not good for the economy to have those small businesses go out of business.

[byte]

Some will be much more impacted by a minimum wage hike than others. Fortune 500 companies can absorb it easily as most employees make more than $15/ hr. already. Machine shops should be fine (few make under $15/hr.). Its the tiny businesses like Pizza store owners would would suffer. My company I work for will take a bit of a hit as we have under $15 workers.

I want to see the details of the proposed minimum wage hike. I expect there will be exemptions for very small business owners who honestly can't survive paying the minimum wage. I'm sure we can all agree it's not good for the economy to have those small businesses go out of business.

The (In my opinion) excessive anti covid measures have killed many of the small businesses, this is just the final nail in the coffin for those who remain.
Big box stores will rule the retail space.

[Matthew Hajicek]

[quote="Thee Byte™" post_id=3915 time=1611070622 user_id=50]
The (In my opinion) excessive anti covid measures have killed many of the small businesses,
[/quote]

IMO the problem wasn't the measures being excessive, rather that they've been in effect so long because all measures taken in the US were half-measures.  When it comes to contagion containment, a half-measure is little better than no measure.  If we had done a serious, hard lockdown for a month or two starting in March, and began requiring all international travelers to undergo a two week quarantine, we'd have a good chance of being able to operate normally today (with the exception of maintaining the travelers quarantine.)

[byte]

[quote="Matthew Hajicek" post_id=3921 time=1611071486 user_id=57]
[quote="Thee Byte™" post_id=3915 time=1611070622 user_id=50]
The (In my opinion) excessive anti covid measures have killed many of the small businesses,
[/quote]

IMO the problem wasn't the measures being excessive, rather that they've been in effect so long because all measures taken in the US were half-measures.  When it comes to contagion containment, a half-measure is little better than no measure.  If we had done a serious, hard lockdown for a month or two starting in March, and began requiring all international travelers to undergo a two week quarantine, we'd have a good chance of being able to operate normally today (with the exception of maintaining the travelers quarantine.)
[/quote]

The small businesses were closed while the big box stores were allowed to stay open, I'm sorry if you can't see the correlation.

[Matthew Hajicek]

[quote="Thee Byte™" post_id=3923 time=1611071581 user_id=50]
The small businesses were closed while the big box stores were allowed to stay open, I'm sorry if you can't see the correlation.
[/quote]

Exactly; half-measures.

[marshal]

I remember back in the Obama days when gas was over $4/gal in MN. I was driving a suburban with a 42 gal tank. I think one time I actually filled $160 at one time. Glad I live 13 miles from work now.

 And it's already happening.  Up $0.30 in the last week in southern MN.  That's really going to hurt my 36-gallon fillup every two weeks.

[Matthew Hajicek]

And it's already happening.  Up $0.30 in the last week in southern MN.  That's really going to hurt my 36-gallon fillup every two weeks.

Glad I live 3 miles from work.  Just drove 38 miles round trip to get materials, burned less than a gallon to do it.

[RobertELee]

https://i.ibb.co/K6tzLRY/140278297-10158904648980944-2842714397540290504-n.jpg">

[Dan_AKA_ROY23]

I want to see the details of the proposed minimum wage hike. I expect there will be exemptions for very small business owners who honestly can't survive paying the minimum wage. I'm sure we can all agree it's not good for the economy to have those small businesses go out of business.

Haven't read anything about proposed exemptions. That would be huge, though. What about agriculture? Paying field workers $15 an hour? They would pass the price on to us (sticker shock at the super markets). Or the 18 year olds McDonald's hires? Expect our Big Macs to go way up in price (hmmm... haven't had a Big Mac in years, come to think of it).

There's a host of issues that could cascade in to an economic chain reaction.

[Jim at Gentex]

The next few years?
We will have a choice between a shit sammich, and a shit sammich with extra shit.
Yummy...

[TylerBeer]

If not raising the minimum wage then what solution for reducing the economic burden of the poor? It certainly hasn't lessened in the last four years, nor the 8 before that.
Wage gaps have only increased.

You think bezos is taking the efficiencies in his business and passing it onto workers? Helllllll no.

And we as consumers are just as much to blame.

[neurosis]

Or the 18 year olds McDonald's hires? Expect our Big Macs to go way up in price (hmmm... haven't had a Big Mac in years, come to think of it).

Out of curiosity, how much do you think that Big Mac would go up in price? $.50?  $1.00?