Posted by oldtanker on January 12, 2018 at 07:52:43 from (66.228.255.59):
In Reply to: OT - minimum wage posted by jimg.allentown on January 11, 2018 at 19:26:21:
OK guys, business 101, a business has to make a certain profit margin to stay profitable. Net about 5%. And this is where you have to watch the news media. They love to report gross profit but seldom report net. Few years back they reported one company at some 750 million profit and yet net was only about 7.5 million.
Now also look at every time minimum wage has gone up. If they pass a 10% hike then inflation will quickly rise by at least 10%. Because the companies have to maintain about a 5% margin and remain profitable. It gets to be less than 5% and the bottom drops out? Then they fail.
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