Posted on 12/17/2010 10:00:25 PM PST by gov_bean_ counter
FBN's John Stossel dissects lawmakers' false promises in new special
Mr. Dorsey told John Stossel during a discussion of minimum wage that if a company can't absorb the cost of increasing wages, then they probably have the wrong business model. He bills himself as an economist, but there is nothing I saw that indicated any specific training in that field. He holds a B.S., International Relations from Georgetown University School of Foreign Service. All his career he has been just a community organizer.
(Excerpt) Read more at video.foxnews.com ...
if a company can’t absorb the cost of increasing wages, then they probably have the wrong business model.
Dorsey is a frickin’s nOOb to real life. A total and complete moron, maybe even picture perfect.
If you are forced to pay a minimum wage, you just raise your prices to maintain your profits. That works just fine, as long as every other company you compete with is in the same boat, and as long as your customers can still afford your product. But when you’re having to compete with foreign products from Mexico, China or anywhere else, you’re screwed.
He just let him speak...
vaudine
No, it means we have the wrong government model.
Mr. Dorsey would have been right at home in the old Supreme Soviet.
“He bills himself as an economist, but there is nothing I saw that indicated any specific training in that field.”
Thank God someone else saw this ... I was standing in the middle of the room with my fists clenched, thinking that the White Hut is FULL of geniuses like this. No wonder they want to raise taxes in a recession.
When will we crack the secrets of Bammy’s school records? I’ll bet he has some real interesting 2.1 GPA notes floating on everything from Marxist Theory to The Life of Che.
I was watching this. I didn’t know whether to laugh or scream. Do you suppose he actually believes the stuff he was saying/
I am afraid he does.
The NYT! Ran an editorial I think in the 70’s that said the minimum wage should be zero. That way you can pay say, a teenager living at home less, and an hourly worker MORE. The evil, hated Walmart usually pays much more than the minimum wage in certain parts of the country. Heck, fast food places here hire people at $10/hr to start.
If minimum wage goes up everyone on the payroll wants a raise. You have newbies making what a guy who has been there for 6 months is making and on up and it really is only fair to raise their pay too but it sure isn’t cost effective.
What we do in that situation is lay off the newbies and slow down all exploratory investment. It’s called “Turtleing” to protect the core.
When the government raises the cost of creating revenue for everyone then the newbies pay 1st. Growth is slowed or frozen depending on the governments extreme in their punishment of what they call success.
>> that if a company can’t absorb the cost of increasing wages, then [the idiot continues...]
It’s the market that can’t absorb the cost, fool.
No doubt this moron is one of O’s stable of yes men who call themselves economists.
I was walking past the living room when I heard that comment on the show and I burst out laughing! I said “This is a man who has obviously NEVER run a business! He MUST be either a academician or a community organizer!” Mrs. Jazzy, who was watching the show replied, “You are correct on both counts!”
Right on two different items in one day, ... WITH Mrs. Jazzy? Whoa, dude, I must be butter because I am on a roll!
Any businessman, any working person, any white male, who votes for Democrats is either a dupe or part of the exploiter class. They are comparable to a "Jews for Hitler" group. The Democrats are out to destroy you.
Learn it, live it, love it. The truth.
I happened to be in the room watching this show with my son and three of his late teen friends most who cannot find a job to save their lives
I stopped the show and had a quick 10 minute economic lesson on the minimum wage Thanks to this idiot, four more young adults got their minds right
Harsh, but I’ll go with you on that.
Dude! You should pop a cork of some good champagne!
Right two times in one day? Amazing!
Either that or she wants something. /s LOL
I would be suspicious....
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