Why are you so against fast food workers making $15 a hour?

[Alphachino]

Australia's minimum wage: $15.96
Australia's cost for a double quarter pounder: $6.25
Australia's cost for a DQ Pounder meal: $8.25
Australia's cost for a 2013 Ford Focus, USED: $38,000
Australia's average home cost in Sydney: $620K

That's what a 350K home looks like over there. That, is what you have to look forward to when the minimum wage gets doubled. It's nowhere near as simple as just paying out more money without everything else being raised as a result of it.

No wonder them nigga ride Kangaroos and shit lol, a Focus cost as much as a fixer upper house in MD.

Niggas in Australia be like...."Baby, I'm pullin over half a milli, you can supersize it mate!"

 

[Drayonis]

to humor you...i am willing to take a sacrifice for the greater good for the great number

but you never answered my question...so i cant give you a firm yes or no

where are you getting this 50% from

just seems really hypothetical and random...

its like asking me am i willing to give 67% of my income up....or maybe 70%...or am i willing to send my first born to a boarding school to save the economy...

how is this a solution even worth entertaining?

you don't know what 50% of your take home pay is? you don't know what half means? Is that what you're telling me? Based on your words something has to be done right? I asked you are you willing to give up half of your income to one individual working at McDonald's, simple question. You don't want to answer the question directly so now the question is dumb.

The fact that you don't want to answer directly told me everything I needed to know. No you wouldn't, its all good until it's your money, then it's slow up, slow down, that's a random question.

The reason the question makes sense is because I gave up 50% of my income for a year in order to keep my employees paid during hard times. Good to know the where you stand though.

 

[swiftandsilent]

Put it like this.. I am not against Fast Food Workers making more money, I am against the people who are working there NOW making more money.

Some and I say some of these individuals are being paid twice what they are worth base on current performance.

Higher pay might bring a different type of person with a different work ethic to the job. Right now, try and get a correct order at some of these places.

 

[Djmarkxr7]

Shit you said that like it's something amazing... it had "doubled" !!

If someone was getting paid 2 bucks an hour... then get's 4.. it doubled .. but it's nothing special...

Infact with inflation... a average minimum wage working in 86 is doing better than one in 2013...

DON'T get it twisted, it's still shit, but it disproves one singular point that many have made in this thread, peeps keep saying that everyone else's wages would go up significantly if you start @ the bottom, well the wages @ the bottom have doubled/tripled in the past 20 years, has ANYONE else's?!?

My point is still that the area/location has much more to do with prevailing wage than the store itself does, peeps have pie in the sky aspirations for regular folk, for every one employee motivated by money, the next three will still do the same, so essentially you are overpaying three employees instead of correctly paying one!

 

[LordSinister]

Australia's minimum wage: $15.96
Australia's cost for a double quarter pounder: $6.25
Australia's cost for a DQ Pounder meal: $8.25
Australia's cost for a 2013 Ford Focus, USED: $38,000
Australia's average home cost in Sydney: $620K

That's what a 350K home looks like over there. That, is what you have to look forward to when the minimum wage gets doubled. It's nowhere near as simple as just paying out more money without everything else being raised as a result of it.

Sounds about right. That 350K house is probably on a couple of Acres, and the average worker makes a lot more than we do in the states. I know that a supervisor in Australia doing the same work I do makes 3-400 dollars more a day than I do.

 

[brickwall92]

DON'T get it twisted, it's still shit, but it disproves one singular point that many have made in this thread, peeps keep saying that everyone else's wages would go up significantly if you start @ the bottom, well the wages @ the bottom have doubled/tripled in the past 20 years, has ANYONE else's?!?

My point is still that the area/location has much more to do with prevailing wage than the store itself does, peeps have pie in the sky aspirations for regular folk, for every one employee motivated by money, the next three will still do the same, so essentially you are overpaying three employees instead of correctly paying one!

The wages were the bottom bottom bottom... now they're at the bottom bottom

btw didn't you say if their wages go up.. then everyone elses would ? and it would hurt the area economy ? so why say that about the people who say it would raise everyones wages ?

 

[DeSiRe]

you don't know what 50% of your take home pay is? you don't know what half means? Is that what you're telling me? Based on your words something has to be done right? I asked you are you willing to give up half of your income to one individual working at McDonald's, simple question. You don't want to answer the question directly so now the question is dumb.

The fact that you don't want to answer directly told me everything I needed to know. No you wouldn't, its all good until it's your money, then it's slow up, slow down, that's a random question.

The reason the question makes sense is because I gave up 50% of my income for a year in order to keep my employees paid during hard times. Good to know the where you stand though.

heres why i asked

say i make $50,000/year after being in some type of promoted/middle management position?

with your 50% pay cut now my income is $25,000 which is below the poverty level...with that type of logic.... now you have even a larger population living below the poverty level....how is that productive? especially with a profitable billion dollar business

not to mention how naive it is to think that these billion dollar companies can ONLY cut operational costs by lowering wages

what about finding cost saving energy saving solutions?

what about cutting marketing/advertising costs?

what about cutting waste and shrinkage?

what about tax cuts to off set the cost of increasing these worker wages?

what about finding local cost effective suppliers?

what about cutting down on administrative expenses?

what about a performance based pay structure?

what about finding opportunities to earn additional revenue from leased storefront shopping centers like starbucks has?

there are way too many variables and opportunities to take that 50% pay cut solution/proposition seriously

 

[The Untouchable GDFOLKS]

heres why i asked

say i make $50,000/year after being in some type of promoted/middle management position?

with your 50% pay cut now my income is $25,000 which is below the poverty level...with that type of logic.... now you have even a larger population living below the poverty level....how is that productive? especially with a profitable billion dollar business

not to mention how naive it is to think that these billion dollar companies can ONLY cut operational costs by lowering wages

what about finding cost saving energy saving solutions?

what about cutting marketing/advertising costs?

what about cutting waste and shrinkage?

what about tax cuts to off set the cost of increasing these worker wages?

what about finding local cost effective suppliers?

what about cutting down on administrative expenses?

what about a performance based pay structure?

what about finding opportunities to earn additional revenue from leased storefront shopping centers like starbucks has?

there are way too many variables and opportunities to take that 50% pay cut solution/proposition seriously

Damn bitch your are dumb...please stop it.

Sent from my Nexus 7 using Tapatalk 2

 

[Djmarkxr7]

The wages were the bottom bottom bottom... now they're at the bottom bottom

btw didn't you say if their wages go up.. then everyone elses would ? and it would hurt the area economy ? so why say that about the people who say it would raise everyones wages ?

Right, I said that about the local economy, peeps in this thread are referring to wages in the US economy in general, NOTHING has changed, the bottom level has actually gained on the lower middle-class in terms of wages, the sad part is that the poverty level line has risen in the same time.

And inflation has actually remained relatively low since 1982, remaining @ well below 5% annually since that time (excluding 1990 when it hit 5.4%), given that goods cost roughly just under 3x more today than they did in 1980, the ONLY segment that has actually kept up with inflation has been the bottom, this is an EXTREMELY sad but true statistic, but again, it is NOT McDonald's fault that a majority of better paying, essentially non-skilled jobs have moved away, NOTHING has changed for them, so why should they be the ones who take up the slack?!?

I will still reiterate, the local economy has much more to do with setting the prevailing wage than the store, or the chain, and I'm NOT against them getting a raise, but it needs to be realistic, anything more than $9/hr, from $7.25, just isn't!

 

[Djmarkxr7]

heres why i asked

say i make $50,000/year after being in some type of promoted/middle management position?

with your 50% pay cut now my income is $25,000 which is below the poverty level...with that type of logic.... now you have even a larger population living below the poverty level....how is that productive? especially with a profitable billion dollar business

not to mention how naive it is to think that these billion dollar companies can ONLY cut operational costs by lowering wages

what about finding cost saving energy saving solutions?

what about cutting marketing/advertising costs?

what about cutting waste and shrinkage?

what about tax cuts to off set the cost of increasing these worker wages?

what about finding local cost effective suppliers?

what about cutting down on administrative expenses?

what about a performance based pay structure?

what about finding opportunities to earn additional revenue from leased storefront shopping centers like starbucks has?

there are way too many variables and opportunities to take that 50% pay cut solution/proposition seriously

Trying to answer your questions on a one to one basis, here we go...

Fast food stores were among the earliest to switch to energy-saving solutions such as computer controlled climates and electrical services, this cuts interior and exterior lighting off, depending on the operating times of the restaurant, this movement began back in the 1980s, this also is the reason why stores have vestibules, or why you always walk thru a double door set-up.

Marketing is a necessary part of EVERY businesses budget, and is what keeps people walking thru the front door, promotions like Monopoly, BOGO free Big Macs and their $1 menu offerings actually have very slim margins, but these are made up on quantity.

Food coming more and more prepackaged, along with the advent of using microwaves, and the more enhanced use of preservatives have cut waste EXTREMELY down from the levels that were common back in the 80s/90s, these things tend to remove the element of human error (burning the food) and increase quality control, managers salaries are directly linked to how much they prevent waste. Keep in mind that in the past year McDonald's posted profits while sales were actually down from the same time period last year, this is mainly attributed to in-house controls.

Most already receive numerous tax credits, this is actually why they hire senior citizens and people with disabilities, these types also tend to be more reliable.

Won't happen, this is how corporate McDonald's makes its money, this is the MAIN reason why there are the billion dollar profits that you read about, franchises have iron-clad contracts to receive product from the company ONLY.

Can't answer about administrative costs.

They, like most every other business, already have a performance-based pay structure, most were NOT this way back in the 80s, this has actually helped them keep salaries down, ALL across the board, it's no coincidence that when you look @ any chart, the US wage stagnation took root in the 80s, while corporate/management monies began to skyrocket!

Can't answer to storefront leasing options either!

My answers are based on my experience as a fast food manager for almost 6 years @ McDonald's/Roy Rogers from 1984-1990.

Hope this helps.

 

[BrownTurd]

The problem I see is that brothas are looking at gross profits and neglecting to see net profits(money after all expenses paid). Drayonis is not being an ass nor does he have an elitist attitude. From Him being a business owner, he is looking at "NET PROFITS" and not the pretty "GROSS PROFITS" in which so many of you are focused on.

"GROSS PROFITS" commonly referred to as weekly/monthly/Annual sales always look great After expenses and taxes is where one would see the true money. When net profits are calculated most are like this You may ask how so brownturd? Lets take a look.

How many of you have a job or had one where the gross salary is like But after receiving your first check with things taken out like taxes, insurance, Medicare, and social security (equivalent to a business operating cost) you are like

Now lets say your job stated they will cut an extra 38 cent from your hourly wage to make sure everyone in the cafeteria down stairs in the lobby could make a comfortable living. Like you said, 38 cent ain't nothing right? When you add that up over time it becomes huge. Especially if your take home pay was not great to begin with.

The average McDonald's store only does about 1.3 million to 2 million in sales a year. That Gross looks great until operating cost are subtracted. Lets look at payroll.

At $15 per hour to pay just 10 full time workers will cost about $315,000 annually and that is not including insurance and workers comp. Adding in the cost for part time worker and managers that cost rises considerably. Five manager at $40,000 a year...because you could not have a person flipping burgers making the same as a manager. Those five manager would cost $200,000

We have not got to Taxes, rent, food loss, and utilities and we are over $600,000 plus.

Put yourself in that franchise owner position. Of course you want all your employees to live comfortably but do you really want that to happen at the expense of your investment. If your store closes you are not getting that $500,000 back it took as a entry fee to have your store opened. Trying to help others is noble but not at the expense of yourself.

 

[TheKingofVa]

If you go to suburban areas you can make almost 15. I was talking to a manager of a mcdonalds in Laurel and he said they have to pay more because the CACS dont let their kids work there.

I'm against non-skilled workers making that much tho. I worked at McDonalds as a teen and that job is by far the easiest one I ever had. Especially now that all they have to do is hit pictures, and I could also do without the attitudes. And a majority of the McDonalds here in Bmore are made up of felons, dropouts, molesters, and idiots. I don't think they should make more because they choose to work that shitty job. If you don't want to learn a trade/Skill then you should make that much. I know people who work twice as hard as those workers and make barely 11/hr.

If anything they are asking for too much, I'd say 9-10 is enough for that job

That's exactly how I feel. If they want to make more money they need to invest in themselves and get a skill or a degree. Working at McDonald's is an easy non-skilled job and they should be payed accordingly.

 

[Djmarkxr7]

The problem I see is that brothas are looking at gross profits and neglecting to see net profits(money after all expenses paid). Drayonis is not being an ass nor does he have an elitist attitude. From Him being a business owner, he is looking at "NET PROFITS" and not the pretty "GROSS PROFITS" in which so many of you are focused on.

"GROSS PROFITS" commonly referred to as weekly/monthly/Annual sales always look great After expenses and taxes is where one would see the true money. When net profits are calculated most are like this You may ask how so brownturd? Lets take a look.

How many of you have a job or had one where the gross salary is like But after receiving your first check with things taken out like taxes, insurance, Medicare, and social security (equivalent to a business operating cost) you are like

Now lets say your job stated they will cut an extra 38 cent from your hourly wage to make sure everyone in the cafeteria down stairs in the lobby could make a comfortable living. Like you said, 38 cent ain't nothing right? When you add that up over time it becomes huge. Especially if your take home pay was not great to begin with.

The average McDonald's store only does about 1.3 million to 2 million in sales a year. That Gross looks great until operating cost are subtracted. Lets look at payroll.

At $15 per hour to pay just 10 full time workers will cost about $315,000 annually and that is not including insurance and workers comp. Adding in the cost for part time worker and managers that cost rises considerably. Five manager at $40,000 a year...because you could not have a person flipping burgers making the same as a manager. Those five manager would cost $200,000

We have not got to Taxes, rent, food loss, and utilities and we are over $600,000 plus.

Put yourself in that franchise owner position. Of course you want all your employees to live comfortably but do you really want that to happen at the expense of your investment. If your store closes you are not getting that $500,000 back it took as a entry fee to have your store opened. Trying to help others is noble but not at the expense of yourself.

Good breakdown.

People who don't own or have never run a business never think of how high costs can actually be, especially for a franchise owner because money ALWAYS goes to the corporate entity, unlike when you open your own business with your own product.

When I was a manager I remember that we had a book that showed the actual cost of each item, like each cup cost the store .05 cents, this was also why inventory was taken on a weekly basis, with computers back of the house inventory control has become much easier.

Workers would ALWAYS complain about being sent home on slow days, but need to realize that there is a methodology behind this, each store has a set percentage of how much each particular shift's payroll would be, if payroll exceeds that percentage that cuts directly into the store's net profits NOT the gross, if your set scale is 20% and you go to 30%, that extra 10% comes directly out of the store's bottom line, this percentage is how managers set up work schedules for particular shifts, this is not just some arbitrary number, the avg. wage per shift is also taken into account, your higher paid workers tend to be your supervisors, or as a manager, another set of eyes & leadership in places you can't be, sending workers home is the manager's way of staying as close, or under, that percentage as possible, of course the important number is your end-of-the-month number, but this MUST be micro-managed daily, because @ the end of the month it's too late to adjust!

ANY type of raise has to be met with a commensurate increase in productivity for any store to be able to absorb this readily, for worker's salaries to double, productivity has to double as well, this is next to impossible, this is also why you will ALWAYS hear the term "givebacks" during contract negotiations.

Your last point is the truest of all, businesses are in business TO MAKE MONEY FOR THEMSELVES, they are NOT there to be people's piggy banks, before each location is opened part of their business plan has to look @ the prevailing wage of each given area, if your business plan is predicated on a prevailing wage average of $8.75 per hour, ANY significant increase above that number DESTROYS your business model, which is why any McDonald's store (or any business for that matter) would go to the mat to keep wages as close to the projected business model as possible.

And another MAJOR point that people also forget that as a franchise owner your prices are dictated by the company, this is why you, as a customer, can enjoy the same prices no matter which franchise/corporate store you visit, just because an individual store raises its wage DOES NOT MEAN that that store can raise its prices HOWEVER corporate does sometimes allow higher prices in locations that inherently are more expensive, as in the case of McDonald's locations in Manhattan, certain items aren't included on their $1 menus and they don't participate in certain promotions for a reason.

 

[mexico]

heres why i asked

say i make $50,000/year after being in some type of promoted/middle management position?

with your 50% pay cut now my income is $25,000 which is below the poverty level...with that type of logic.... now you have even a larger population living below the poverty level....how is that productive? especially with a profitable billion dollar business

Just curious, but where did you get that $25,000 is below the poverty level? According to the last poverty guidelines I read that $25,000 would have to represent the total household income of a family of 5 for that to be below the poverty line.

 

[The Untouchable GDFOLKS]

Just curious, but where did you get that $25,000 is below the poverty level? According to the last poverty guidelines I read that $25,000 would have to represent the total household income of a family of 5 for that to be below the poverty line.

She pulled it pulled it out her ass.

Sent from my Nexus 7 using Tapatalk 2

 

[Drayonis]

Just curious, but where did you get that $25,000 is below the poverty level? According to the last poverty guidelines I read that $25,000 would have to represent the total household income of a family of 5 for that to be below the poverty line.

Basically what she saying is NO, she wouldn't give a nickel of her money to help out a McDonald's employee, but it's all good if it's someone else's money. You notice none of them crying on here will say yes.

 

[Drayonis]

Thank you for this. It's something I've dealt with for years. Employees see money in tgr register and simply assume there is ample amounts laying around for them. They can't equate percentage breakdowns for anything....

Good breakdown.

People who don't own or have never run a business never think of how high costs can actually be, especially for a franchise owner because money ALWAYS goes to the corporate entity, unlike when you open your own business with your own product.

When I was a manager I remember that we had a book that showed the actual cost of each item, like each cup cost the store .05 cents, this was also why inventory was taken on a weekly basis, with computers back of the house inventory control has become much easier.

Workers would ALWAYS complain about being sent home on slow days, but need to realize that there is a methodology behind this, each store has a set percentage of how much each particular shift's payroll would be, if payroll exceeds that percentage that cuts directly into the store's net profits NOT the gross, if your set scale is 20% and you go to 30%, that extra 10% comes directly out of the store's bottom line, this percentage is how managers set up work schedules for particular shifts, this is not just some arbitrary number, the avg. wage per shift is also taken into account, your higher paid workers tend to be your supervisors, or as a manager, another set of eyes & leadership in places you can't be.

ANY type of raise has to be met with a commensurate increase in productivity for any store to be able to absorb this readily, for worker's salaries to double, productivity has to double as well, this is next to impossible.

Your last point is the truest of all, businesses are in business TO MAKE MONEY FOR THEMSELVES, they are NOT there to be people's piggy banks, before each location is opened part of their business plan has to look @ the prevailing wage of each given area, if your business plan is predicated on a prevailing wage average of $8.75 per hour, ANY significant increase above that number DESTROYS your business model, which is why any McDonald's store (or any business for that matter) would go to the mat to keep wages as close to the projected business model as possible.

And another MAJOR point that people also forget that as a franchise owner your prices are dictated by the company, this is why you, as a customer, can enjoy the same prices no matter which franchise/corporate store you visit, just because an individual store raises its wage DOES NOT MEAN that that store can raise its prices HOWEVER corporate does sometimes allow higher prices in locations that inherently are more expensive, as in the case of McDonald's locations in Manhattan, certain items aren't included on their $1 menus and they don't participate in certain promotions for a reason.

 

[mexico]

She pulled it pulled it out her ass.

Sent from my Nexus 7 using Tapatalk 2

Basically what she saying is NO, she wouldn't give a nickel of her money to help out a McDonald's employee, but it's all good if it's someone else's money. You notice none of them crying on here will say yes.

I was wondering what was going on or if I had missed something. I've been reading through this thread and the other one and somebody was like, what's the big deal? Even if you give them $15 an hour, that's still only $30,000 a year, that's still below poverty. And I'm thinking wait a minute, when the fuck did that happen?

 

[Djmarkxr7]

Just curious, but where did you get that $25,000 is below the poverty level? According to the last poverty guidelines I read that $25,000 would have to represent the total household income of a family of 5 for that to be below the poverty line.

LOL, THIS is actually MUCH MORE of the problem, the 2013 Federal Poverty Guideline puts $11,490 as the level for one person (http://www.familiesusa.org/resources/tools-for-advocates/guides/federal-poverty-guidelines.html) a person making minimum wage just working 35 hours a week would finish ABOVE the line, this is NOT a true living wage for most anywhere yo go, let alone NYC and other major metro areas!

 

[BrownTurd]

I was wondering what was going on or if I had missed something. I've been reading through this thread and the other one and somebody was like, what's the big deal? Even if you give them $15 an hour, that's still only $30,000 a year, that's still below poverty. And I'm thinking wait a minute, when the fuck did that happen?

$600 a week is poverty?

 

[The Untouchable GDFOLKS]

I was wondering what was going on or if I had missed something. I've been reading through this thread and the other one and somebody was like, what's the big deal? Even if you give them $15 an hour, that's still only $30,000 a year, that's still below poverty. And I'm thinking wait a minute, when the fuck did that happen?

You have a lot of people on this board that live with their parents so they do not understand the concept of money because they do not pay bills. 30k for a single person is poor now

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[DeSiRe]

My answers are based on my experience as a fast food manager for almost 6 years @ McDonald's/Roy Rogers from 1984-1990.

Hope this helps.[/B]

thanks for your insight...

im sure they have done things to help the bottom line but i find it unbelievable to think there are not other opportunities to cut costs on things that i mentioned...especially since some of these changes was made 30 years ago

Just curious, but where did you get that $25,000 is below the poverty level? According to the last poverty guidelines I read that $25,000 would have to represent the total household income of a family of 5 for that to be below the poverty line.

quoting the US Health and Human Services a family of 4 is living at the poverty line at $23,050/year.....which is still more than what the net on a $25,000 salary would be after taxes

also...families earning $30,000 or less qualify for food stamps and govt assistance because they are so close or below the poverty line

even if you had a combined household income that was reduced from $100,000 to $50,000 for a family of 4 its still a guarantee for an economical breakdown just based off the significant drop in the debt to income ratio...pretty much setting up the subprime meltdown of '08 part II...expect not just in housing...but all industries are free game

thats why i cant even take this "proposition" seriously

why not just shoot ourselves in the faces and set ourselves on fire to pay mcdonalds workers more...thats exactly how i read it....too hypothetically extreme to take seriously

 

[Famous1]

thanks for your insight...

im sure they have done things to help the bottom line but i find it unbelievable to think there are not other opportunities to cut costs on things that i mentioned...especially since some of these changes was made 30 years ago




quoting the US Health and Human Services a family of 4 is living at the poverty line at $23,050/year.....which is still more than what the net on a $25,000 salary would be after taxes

also...families earning $30,000 or less qualify for food stamps and govt assistance because they are so close or below the poverty line

even if you had a combined household income that was reduced from $100,000 to $50,000 for a family of 4 its still a guarantee for an economical breakdown just based off the significant drop in the debt to income ratio...pretty much setting up the subprime meltdown of '08 part II...expect not just in housing...but all industries are free game

thats why i cant even take this "proposition" seriously

why not just shoot ourselves in the faces and set ourselves on fire to pay mcdonalds workers more...thats exactly how i read it....too hypothetically extreme to take seriously

what?

 

[sharkbait28]

This is such a weird debate. $15 an hour doesn't make much sense. But there's simply no denying that the current wage floor is exploitative.

Realistically the fed min wage should be about $10.60 which is in line with the min wage of the 60s (after accounting for inflation). All the genuflecting to corporate imperatives aside... there's simply no defense of the fact that the current min wage is frozen at $7.25. All the talking points speaking to "job loss" and "profits" etc seem so utterly tone-deaf in light of the current economic reality we're faced with.

For instance... corporate profit (at record levels these days btw) have literally no meaningful connection to job creation or wage levels these days. Let's bring this conversation back to reality folks.

 

[DeSiRe]

what?

i mean we are dealing with hypotheticals here....so it could happen

The two main kinds of DTI are expressed as a pair using the notation x/y (for example, 28/36).

The first DTI, known as the front-end ratio, indicates the percentage of income that goes toward housing costs, which for renters is the rent amount and for homeowners is PITI (mortgage principal and interest, mortgage insurance premium [when applicable], hazard insurance premium, property taxes, and homeowners' association dues [when applicable]).
The second DTI, known as the back-end ratio, indicates the percentage of income that goes toward paying all recurring debt payments, including those covered by the first DTI, and other debts such as credit card payments, car loan payments, student loan payments, child support payments, alimony payments, and legal judgments .[1]

Defining subprime risk[edit source | editbeta]

The term subprime refers to the credit quality of particular borrowers, who have weakened credit histories and a greater risk of loan default than prime borrowers.[5] As people become economically active, records are created relating to their borrowing, earning and lending history. This is called a credit rating, and although covered by privacy laws the information is readily available to people with a need to know (in some countries, loan applications specifically allow the lender to access such records). Subprime borrowers have credit ratings that might include:

limited debt experience (so the lender's assessor simply does not know, and assumes the worst), or
no possession of property assets that could be used as security (for the lender to sell in case of default)
excessive debt (the known income of the individual or family is unlikely to be enough to pay living expenses + interest + repayment),
a history of late or sometimes missed payments (morose debt[citation needed]) so that the loan period had to be extended,
failures to pay debts completely (default debt), and
any legal judgments such as "orders to pay" or bankruptcy (sometimes known in Britain as county court judgments or CCJs).
Lenders' standards for determining risk categories may also consider the size of the proposed loan, and also take into account the way the loan and the repayment plan is structured, if it is a conventional repayment loan, a mortgage loan, an endowment mortgage, an interest only loan, a standard repayment loan, an amortized loan, a credit card limit or some other arrangement. The originator is also taken into consideration. Because of this, it was possible for a loan to a borrower with "prime" characteristics (e.g. high credit score, low debt) to be classified as subprime.[6]

 

[The Untouchable GDFOLKS]

thanks for your insight...

im sure they have done things to help the bottom line but i find it unbelievable to think there are not other opportunities to cut costs on things that i mentioned...especially since some of these changes was made 30 years ago




quoting the US Health and Human Services a family of 4 is living at the poverty line at $23,050/year.....which is still more than what the net on a $25,000 salary would be after taxes

also...families earning $30,000 or less qualify for food stamps and govt assistance because they are so close or below the poverty line

even if you had a combined household income that was reduced from $100,000 to $50,000 for a family of 4 its still a guarantee for an economical breakdown just based off the significant drop in the debt to income ratio...pretty much setting up the subprime meltdown of '08 part II...expect not just in housing...but all industries are free game

thats why i cant even take this "proposition" seriously

why not just shoot ourselves in the faces and set ourselves on fire to pay mcdonalds workers more...thats exactly how i read it....too hypothetically extreme to take seriously

Are you fucking serious? Not trying to be funny but are you really fucking serious? 30k is not poverty for a SINGLE person fucking idiot. If you do not know what you are talking about please dont try to debate. I hate people that know everything but dont know shit and will argue with you until the sun goes down.

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[Upgrade Dave]

Management 101, giving a shitty employee more money doesn't make them less shitty.Some of you guys shoukd really walk a day on the other side.

Of course not but it makes it easier to replace them with a higher quality worker. Continue to pay shitty wages and you keep attracting shitty workers.
That's the rest of Management 101.

 

[Drayonis]

Are you fucking serious? Not trying to be funny but are you really fucking serious? 30k is not poverty for a SINGLE person fucking idiot. If you do not know what you are talking about please dont try to debate. I hate bitches that know everything but dont know shit and will argue with you until the son goes down.

Sent from my Nexus 7 using Tapatalk 2

Whoa bro, slow up with the bitches man. I'm fustrated too, but let's keep it civil while debating this issue. No need to take it to another level...

 

[BKF]

Of course not but it makes it easier to replace them with a higher quality worker. Continue to pay shitty wages and you keep attracting shitty workers.
That's the rest of Management 101.

Remember when the TSA replace low paying security guards.

Wed Jul 31, 2013
Misconduct allegations rise for U.S. airport security workers
http://www.reuters.com/article/2013/07/31/us-usa-travel-security-idUSBRE96U0QV20130731

"Thirty two percent of the incidents involved attendance issues and 20 percent involved violations of security standards, the report said. Others were about drug and alcohol use by agents while on duty and inconsistent use of security devices such as X-ray machines."

 

[The Untouchable GDFOLKS]

Whoa bro, slow up with the bitches man. I'm fustrated too, but let's keep it civil while debating this issue. No need to take it to another level...

Edited...you're right.

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[Chase Bannon]

I have very liberal ways and lean left, but I always figure there shouldn't be a minimum wage to some degree. Well not one in a free market system.

 

[Djmarkxr7]

I have very liberal ways and lean left, but I always figure there shouldn't be a minimum wage to some degree. Well not one in a free market system.

The problem with that is it puts FAR TOO MUCH trust in corporations, we've been shown in multiple ways that if there is no minimum, quite a few opt to keep things as cheap as possible!

Compare Major League Baseball and the NFL, MLB has no minimum, in 2013 Alex Rodriguez will make more than the ENTIRE payroll of the Houston Astros ($24.3 million), Miami cut 60% of its payroll with absolutely NO repercussions, after fans shelled out who knows how many millions for season tickets, they might as well travel up to Toronto, who will be playing/paying 37 million $$$ worth of former Marlins players, meanwhile the NFL has a minimum that ALL teams must spend 89% of their salary cap total over a 4 year period, so we see in the real world one has it wrong, the other has it right!

Then travel over to China, where a recent report found workers that assemble Ipads/Ipods were being paid as little as $1.72/hr (US), @ one factory 9 workers committed suicide within 3 months by jumping out of the building, they actually had to install suicide nets to prevent more deaths (http://www.dailymail.co.uk/news/art...shop-factory-workers-paid-just-1-12-hour.html) it was this type of exploitation by big business in the 1800s here in the US that ushered in unions, and ultimately getting the federal government involved in establishing a minimum wage.

Having no minimum wage would be insane, corporations left to their own devices WILL exploit, the federal minimum wage is ok where it stands @ $7.25 as a floor, regionally though local governments need to take into account local situations, this is why Washington has a minimum wage of $9.19/hr, and Connecticut has a minimum wage of $8.25/hr, NY state HAS to do better!!!

 

[Upgrade Dave]

Having no minimum wage would be insane, corporations left to their own devices WILL exploit, the federal minimum wage is ok where it stands @ $7.25 as a floor, regionally though local governments need to take into account local situations, this is why Washington has a minimum wage of $9.19/hr, and Connecticut has a minimum wage of $8.25/hr, NY state HAS to do better!!!

I think the national wage should rise but otherwise c/s.

 

[dabushwackers]

I'm for the wage increase but if they don't get it the plus side is they will have health insurance with obamacare about to kick in..it's about time these rich franchise owners start giving their employees health insurance


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[rNubb]

I ran my own business for 12 years. Every dime I returned, let slide or didn't collect was a dime out of the family budget.

My brother invested his family's money in the corporate world. Every dime the company returned, let slide or didn't collect was a dime out of his family's budget.

Corporations are still the people. Poor people don't invest in corporations so they don't have any problem taking from those entities.

Every dime belongs to someone.

If I have 25K invested in Apple or Microsoft or McDonalds then I want these companies to earn money for me.

Folks want to make the poor and unskilled the entitled. No one is entitled to more for the sake of having more.

I want everybody to make more and have more but no one is entitled or deserves anything.

The terms like exploitation, greed and fairness are traps