Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
How to Get Rich in the MetaVerse - 20th Jan 21
Should you Buy Payment Disruptor Stocks in 2022? - 20th Jan 21
2022 the Year of Smart devices, Electric Vehicles, and AI Startups - 20th Jan 21
Oil Markets More Animated by Geopolitics, Supply, and Demand - 20th Jan 21
WARNING - AI STOCK MARKET CRASH / BEAR SWITCH TRIGGERED! - 19th Jan 22
Fake It Till You Make It: Will Silver’s Motto Work on Gold? - 19th Jan 22
Crude Oil Smashing Stocks - 19th Jan 22
US Stagflation: The Global Risk of 2022 - 19th Jan 22
Stock Market Trend Forecast Early 2022 - Tech Growth Value Stocks Rotation - 18th Jan 22
Stock Market Sentiment Speaks: Are We Setting Up For A 'Mini-Crash'? - 18th Jan 22
Mobile Sports Betting is on a rise: Here’s why - 18th Jan 22
Exponential AI Stocks Mega-trend - 17th Jan 22
THE NEXT BITCOIN - 17th Jan 22
Gold Price Predictions for 2022 - 17th Jan 22
How Do Debt Relief Services Work To Reduce The Amount You Owe? - 17th Jan 22
RIVIAN IPO Illustrates We are in the Mother of all Stock Market Bubbles - 16th Jan 22
All Market Eyes on Copper - 16th Jan 22
The US Dollar Had a Slip-Up, but Gold Turned a Blind Eye to It - 16th Jan 22
A Stock Market Top for the Ages - 16th Jan 22
FREETRADE - Stock Investing Platform, the Good, Bad and Ugly Review, Free Shares, Cancelled Orders - 15th Jan 22
WD 14tb My Book External Drive Unboxing, Testing and Benchmark Performance Amazon Buy Review - 15th Jan 22
Toyland Ferris Wheel Birthday Fun at Gulliver's Rother Valley UK Theme Park 2022 - 15th Jan 22
What You Should Know About a TailoredPay High Risk Merchant Account - 15th Jan 22
Best Metaverse Tech Stocks Investing for 2022 and Beyond - 14th Jan 22
Gold Price Lagging Inflation - 14th Jan 22
Get Your Startup Idea Up And Running With These 7 Tips - 14th Jan 22
What Happens When Your Flight Gets Cancelled in the UK? - 14th Jan 22
How to Profit from 2022’s Biggest Trend Reversal - 11th Jan 22
Stock Market Sentiment Speaks: Are We Ready To Drop To 4400SPX? - 11th Jan 22
What's the Role of an Affiliate Marketer? - 11th Jan 22
Essential Things To Know Before You Set Up A Limited Liability Company - 11th Jan 22
NVIDIA THE KING OF THE METAVERSE! - 10th Jan 22
Fiscal and Monetary Cliffs Have Arrived - 10th Jan 22
The Meteoric Rise of Investing in Trading Cards - 10th Jan 22
IBM The REAL Quantum Metaverse STOCK! - 9th Jan 22
WARNING Failing NVME2 M2 SSD Drives Can Prevent Systems From Booting - Corsair MP600 - 9th Jan 22
The Fed’s inflated cake and a ‘quant’ of history - 9th Jan 22
NVME M2 SSD FAILURE WARNING Signs - Corsair MP600 1tb Drive - 9th Jan 22
Meadowhall Sheffield Christmas Lights 2021 Shopping - Before the Switch on - 9th Jan 22
How Does Insurance Work In Europe? Find Out Here - 9th Jan 22
MATTERPORT (MTTR) - DIGITIZING THE REAL WORLD - METAVERSE INVESTING 2022 - 7th Jan 22
Effect of Deflation On The Gold Price - 7th Jan 22
Stock Market 2022 Requires Different Strategies For Traders/Investors - 7th Jan 22
Old Man Winter Will Stimulate Natural Gas and Heating Oil Demand - 7th Jan 22
Is The Lazy Stock Market Bull Strategy Worth Considering? - 7th Jan 22
METAVERSE - NEW LIFE FOR SONY AGEING GAMING GIANT? - 6th Jan 2022
What Elliott Waves Show for Asia Pacific Stock and Financial Markets 2022 - 6th Jan 2022
Why You Should Register Your Company - 6th Jan 2022
4 Ways to Invest in Silver for 2022 - 6th Jan 2022
UNITY (U) - Metaverse Stock Analysis Investing for 2022 and Beyond - 5th Jan 2022
Stock Market Staving Off Risk-Off - 5th Jan 2022
Gold and Silver Still Hungover After New Year’s Eve - 5th Jan 2022
S&P 500 In an Uncharted Territory, But Is Sky the Limit? - 5th Jan 2022

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

More State Regulations and Higher Minimum Wage

Politics / US Politics Feb 28, 2018 - 04:38 AM GMT

By: BATR

Politics

Disputing that the economy is healthy has been an occupational job for decades. Still the government unemployment stats paint a picture that full employment is upon us. Undercounting the permanently discouraged may just be the largest category of growth that goes under reported. However the empirical data for the real causes and disincentives of both the employer and employee are usually glossed over. No doubt the shift in actual job requirements are constantly changing, but the effects of switching the ground rules makes some state governments non-competitive with other jurisdictions.

The New York Law Journal digs into the weeds to illustrate a proposed regulation that cannot help improve the plight of labor in 'No Help Wanted': The Regulation and Elimination of Retail Positions outlines an absurd example of governmental interference.


"The proposed call-in regulations provide the following: (1) employees who report to work for a shift that was not scheduled at least 14 days in advance will be entitled to an additional two hours of call-in pay; (2) employees whose shifts are cancelled within 72 hours of the start of that shift will be entitled to at least four hours of call-in pay; (3) employees who are required to be on-call and available to report to work for any shift will be entitled to at least four hours of call-in pay; and (4) employees who are required to be in contact with their employer, within 72 hours of the start of a shift, to confirm whether or not to report to work for that shift will be entitled to four hours of call-in pay."

As for the Hard facts of Washington's minimum wage law and new paid sick leave law in 2018, forcing pay scales that put small businesses in uncompetitive jeopardy cannot build a sound economy.

Initiative 1433 is fairly new Washington state mandate that eventually raises Washington’s minimum wage to $15 an hour and makes paid sick-leave mandatory for all businesses. So here’s what you need to know as an employee and as an employer:  

The minimum wage applies to all jobs, including agriculture.

Employers must pay employees age 16 and older at least $11.50 per hour in 2018.

Employers are allowed to pay 85 percent of the minimum wage to employees under age 16

Seattle, Tacoma, and the City of SeaTac currently have higher minimum wage rates.

The local rate applies if it is higher than the state minimum wage rate.The initiative does not change overtime pay requirements.

The minimum wage will increase annually over the next three years: $11.50 in 2018, $12 in 2019, and $13.50 in 2020.

Starting Jan. 1, 2021, minimum wage increases will be calculated by L&I using a formula tied to the rate of inflation (based on the Consumer Price Index for Urban Wage Earners and Clerical Workers).  

Whether placing regulations on work conditions or raising pay remuneration, the prospects for growing a healthy private sector is overloaded with excessive burdens. The mindset that fosters this intervention is a prime determinate why jobs are lost. Employers must have confidence that they can turn a profit to engage in commerce. This axiom goes unacknowledged by legislators, bureaucrats and low information workers who scream for more money, while margins are diminished for their bosses. 

Basic economic illiteracy that drives the attitude that regulatory conditions are immune to destructive commercial consequences is fundamental and conflicts with any correct understanding of what makes a business work. 

However, applying this position to all businesses equally often works against the desired functioning of the entire economy. How governments treat monopolist corporatists, who are usually protected enterprises, requires a comprehensive approach. Monopoly power and the decline of small business: big business vs democracy, growth & equality approaches this dilemma thusly. This report presents three compelling reasons to bring a commitment to fair and open markets for small businesses back into antitrust enforcement and public policy more broadly: 

1. Small businesses deliver distinct consumer and market benefits, and in some sectors provide more value and better outcomes than their bigger competitors. And they often achieve these superior results because of their small scale, not in spite of it. 

2. An economy populated by many small, independent businesses produces a more equitable distribution of income and opportunity, creates more jobs, and supports an expansive middle class. 

3. Small-scale enterprise is compatible with democracy, while concentrated economic power threatens our liberty and our ability to be a self-governing people. 

States and the Federal governments need to devote their attention to breaking up the monopolists instead of requiring small business owners to pay wages that are not sustainable for their markets or margins. If the vitality of middle class prosperity is ever to return, retail businesses must be supported to keep them financially viable. 

The mega brick and mortar predator, Walmart saw a recent collapse of 10% in their stock price. Even their announcement that they would Raise U.S. Wages, Provide One-Time Bonus and Expand Hourly Maternity and Parental Leave, did not help. The Amazon effect may just be too much for the marketplace to contend with. 

An anti-trust breakup of the Bezos' empire is far more called for than efforts to legislate work hour schedules or imposing artificial wage requirements. Expansion and growing the economy must be based upon producing and servicing our consumption needs and desire built with domestic labor. That means creating more jobs within the business sector. 

Additional federal tax reductions targeted at small business needs to be added in the Trump agenda. A level playing field may never be achieved, but a much needed improvement in lessening the risks for perspective entrepreneurs must become central for long term healing of the economy. 

Encourage the job drop outs to regain their upward mobility by improving the velocity of business activities. This is the best method to increase the hiring of employees that business owners can realistically afford. 

James Hall

Source: http://batr.org/merchantry/022818.html

Discuss or comment about this essay on the BATR Forum

http://www.batr.org

"Many seek to become a Syndicated Columnist, while the few strive to be a Vindicated Publisher"

© 2018 Copyright BATR - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors

BATR Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in