Mathematiclly Challenged

Posted: March 8, 2014 in Uncategorized
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Here’s a meme that I ran across and had to comment on. The lack of basic math ability still amazes me. Then you have this one cat talking about his college economics professors and they undoubtedly can”t do math either. Last we have the one who doesn’t believe me and decides that it is all because of “Corporate greed.” For about the 10th time I have asked a lefty to explain what corporate greed is and Bam, they’re gone, never to speak again.

After this post, I’m going to share Henry Hazlitt’s –  Economics in one lesson. Since this is not a novel, I’m not going to start at the beginning but show 3-4 chapters that are pressing at the moment first. This book could have been written yesterday.

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    • Alan Peppers Say that minimum wage is raised from $7.25 to $10.10; that is a raise of $2.85 per hour.
      Now say that there are 7 people working at McDonalds per shift. 
      This would increase pay by $19.95 per hour.
      To cover this cost by raising the Dollar menu to $1.05 would require 399 items to be sold per hour; every hour. 
      How do they do that?
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        Rich Schmidt Cut the CEOs salary by one tenth of one percent
        http://www.huffingtonpost.com/…/mcdonalds-ceo-pay_n…
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        Kris Vaughn Mcdonalds makes about 4-6 billion a year… Im sure it would barely put a dent in their pockets.. For what Ive gathered from my own economic professors, to what studies Ive seen on the internet.. Probably look at 100 million AT MOST lost… But then you gotta figure.. How many of those people with new raises are gonna turn right around and take their family to Mcdonalds? Honestly.. From my own figures.. Im guessing Mcdonalds is gonna loose out on anywhere between 50-80 million. But when your making 4-6 billion a year.. What does it even matter?
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        Pamela Sue And of course Mickey’s will get a bigger tax break & even more incentives. The important thing is that many Americans will have their foot on the botton rung of the climb to self-sufficiency & prosperity.
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        Alan Peppers If each McDonalds pays $19.95 per hour more and there are 14000 McDonalds that = $279,300 per hour x 16 hours = $4,468,800 per day.
        Now $4,468,800 per day x 365 days = $1,631,112,000 per year.
        And yes, that is $1.6 BILLION and you’re talking about 1/10 of 1 % of the CEO’s salary.

        Please learn basic math.

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        Russ Schleicher Alan that is 1.6 billion into the economy a great protion of which they will have spent there.
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        Alan Peppers Do large corporations and rich people keep their money stuffed in a mattress? No, they spend it and invest it which keeps the money in the economy. You can’t take $1.6 billion out of the economy, turn around and put it back in the economy and call it a gain.
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        Milton Strumpf Alan, the wealthy do NOT spend it. Give someone who makes $290 a week a raise to make $404 a week and they WILL spend it, generating more profits for businesses. Someone making $1 million/year a raise to $1.1 million, they will mostly just bank it. That’s been proven over and over throughout history. We have the lowest tax rate on the highest earners in history. Corporate profits are the highest they’ve been in years. It’s time to reign in corporate greed. And remember, people making so little survive on government benefits and assistance. So let’s stop giving places like McDonalds corporate welfare they don’t need and make them start paying their workers like they’re supposed to.
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        Alan Peppers Explain to me exactly what “corporate greed” means.
      • Alan Peppers
         

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