doodle wrote: ↑Sun Jan 31, 2021 12:40 pm
InsuranceGuy wrote: ↑Sun Jan 31, 2021 10:29 am
doodle wrote: ↑Sun Jan 31, 2021 6:32 am
I'm also curious why ordinary individuals organizing their interests on wallstreetbets receives bipartisan support but ordinary individuals organizing their interests in a similar forum to improve their wages at fast-food restaurants or walmart invites ire from the political right?
Both parties are hypocritical and always will be until one party becomes serious about solving issues instead of just campaigning about them (which is probably never).
That said, I think the political right are supportive of individuals organizing their interests in a similar forum to improve their wages in the way wallstreet bets does. This method seems to be the opposite of what they oppose in legacy unionization which require participation and waste their money with extravagent spending, political contributions, and other issue not related to collective bargaining.
The response I seem to get though is that this "workers of the world uniting" is somehow communism. If corporate management can strategize how to squeeze as much profit out of their operation as possible and lobby congress for beneficial legislation, why is it wrong for workers to strategize how they can squeeze out the highest salary possible and collectively lobby congress to disincentivize corporate offshoring of production to third world countries, or immigration policies which drive down wages? Could it backfire? Sure, at some point you kill the golden goose but hopefully you find a middle ground through negotiation.
Btw, I fully recognize that a lot of workers are pretty useless. I'm not advocating workers pushing for legislation that would prevent business from firing workers. Both sides have to be logical and reasonable about reality.
There is no "middle ground' in running a business. If you ask anybody running a successful business about "middle ground" they will respond by saying that the business is "either growing or dying".
In most industries/sectors, any company with a sizable advantage is taking the lion's share. They have an advantage that allows them to offer a superior product and/or a lower price to customers. As long as you have large wage-disparity between countries, foreign companies will dominate US companies.
Question: How much money would an electric car cost if you traded in the 7 year old child-labor slaves in the Congo cobalt mines for a bunch of american union workers?? Think about it. Also realize that the very next day China will happily fill in your spot as slave owner to become the new market leader.
Funny thing how wages can effect profit margins. Every action has a reaction.
Increased wages = Increased operating expenses
Increased operating expenses = higher retail prices
Higher retail prices = increased purchases from non-american companies (that can hire cheaper labor)
Increased purchases from non-american companies = american company bankruptcies
Bankruptcies = Unemployment
Demanding higher wages, a better work environment, etc. is like putting a band-aid on a gunshot wound. You aren't even beginning to address the underlying problem. Wages are not stagnant because of some sneaky CEO behind the curtain. it is because Americans are nothing special. Redistributing wealth within a company doesn't just magically make everything honkey-dorey.
For example, is it fair if a US company offshore's their profits to avoid taxes? Now, before you make a gut-answer, let us compare a typical US company to one of its foreign competitors as of a few years ago (there have been law changes):
- Doodle Corp (pharma company): Make $1 million in 2020. Pays 35% in corporate taxes. $650k remaining in the Corp bank account (keep in mind that this money still belongs to the company... if you want to pay yourself ANY OF IT you will need to PAY TAXES A SECOND TIME.. but for this example, lets pretend that you are going to keep all of the money tied up in your company). $650k left for R&D to find the cure for cancer.
- Foreign competitor: Make $1 million in 2020. Only pays taxes when he pays himself a wage, distribution, etc. $1 Million left for R&D.
When Doodle Corp offshored those profits to avoid taxation, it simply leveled the playing field in the global market. Without it, foreign competitors will continually out-innovate and drive Doodle Corp out of business. It is just that simple.
The only way you get to legitimately increase wages for your own workers without slitting your own throat 10 years later is if you have a product/service that is COMPETITIVE IN THE WORLD MARKET through either better innovation, better productivity, or a distinct competitive advantage. That is the only way. Everything else is just shuffling deck chairs on the titanic.
So let's go through what makes America better than the competition?
1. Productivity? Don't make me laugh. My foreign workers would constantly work circles around my american workers. Plus, foreign workers were infinitely more grateful (despite paying my Americans $32/hr for a minimum wage level job). Americans go to college to get saddled in debt, get drunk, and learn essentially nothing that will be used in their actual career... then think they are special for some reason.
2. Innovation? Americans are way better than the rest of the world at... ? Ummm.... ? Surely, americans are good at something.... shopping, binge watching, starbucks? no, no... Oh wait, I got it... "technology". Yes, America is a leading innovator in TECHNOLOGY! Spending billions and billions on cutting edge research for a fabulous new widget... just to have the IP stolen by China 3 days later. Awesome plan.
No problem, we will just increase the costs of foreign imports to "encourage" people to buy american
That won't hurt grandma on her fixed income who can barely afford her "made in china" adult diapers as it is. Sorry granny, the price just DOUBLED because now you are forced to buy them from the place that pays 10x more in wages while also being only 50% as productive (since we had to fill that quota for hiring age 60+ african-american-transgender-furries instead of hiring based on individual ability/skill).
Don't worry... if everything goes to hell, America always has its Plan B. Its real competitive advantage is being the largest arms dealer in the world. America will just start a war somewhere. Problem solved. Luckily, our children will not actually get shot at... a third of 17-24 year olds are too obese to qualify for military service. Maybe that's why we have moved to drones. American youth's only remaining skill was video games.
U-S-A!
U-S-A!
U-S-A!
Alright, there’s a thread for Wall Street Bets (WSB). It’s