Best of the Week
Most Popular
1. Dollargeddon - Gold Price to Soar Above $6,000 - P_Radomski_CFA
2.Is Gold Price On Verge Of A Bottom, See For Yourself - Chris_Vermeulen
3.Dow Stock Market Trend Forecast 2018 - Nadeem_Walayat
4.Gold Price to Plunge Below $1000 - Key Factors for Gold & Silver Investors - P_Radomski_CFA
5.Why The Uranium Price Must Go Up - Richard_Mills
6.Dow Stock Market Trend Forecast 2018 - Video - Nadeem_Walayat
7.Jim Rogers on Gold, Silver, Bitcoin and Blockchain’s “Spectacular Future” - GoldCore
8.More Signs That the Stock Market Will Rally Until 2019 - Troy_Bombardia
9.It's Time for A New Economic Strategy in Turkey - Steve_H_Hanke
10.Fiat Currency Inflation, And Collapse Insurance - Raymond_Matison
Last 7 days
China Is Building the World’s Largest Innovation Economy - 21st Sep 18
How Can New Companies Succeed in the Overcrowded Online Gambling Market? - 21st Sep 18
Golden Sunsets in the Land of U.S. Dollar Hegemony - 20th Sep 18
5 Things to Keep in Mind When Buying a Luxury Car in Dubai - 20th Sep 18
Gold Price Seasonal Trend Analysis - Video - 20th Sep 18
The Stealth Reason Why the Stock Market Keeps On Rising - 20th Sep 18
Sheffield School Applications Crisis Eased by New Secondary Schools Places - 20th Sep 18
Precious Metals Sector: It’s 2013 All Over Again - 19th Sep 18
US Dollar Head & Shoulders Triggered. What's Next? - 19th Sep 18
Prepare for the Stock Market’s Volatility to Increase - 19th Sep 18
The Beginning of the End of the Dollar - 19th Sep 18
Land Rover Discovery Sport 'Approved Used' Bad Paint Job - Inchcape Chester - 19th Sep 18
Are Technology and FANG Stocks Bottoming? - 18th Sep 18
Predictive Trading Model Suggests Falling Stock Prices During US Elections - 18th Sep 18
Lehman Brothers Financial Collapse - Ten Years Later - 18th Sep 18
Financial Crisis Markets Reality Check Now in Progress - 18th Sep 18
Gold’s Ultimate Confirmation - 18th Sep 18
Omanization: a 20-year Process to Fight Volatile Oil Prices  - 18th Sep 18
Sheffield Best Secondary Schools Rankings and Trend Trajectory for Applications 2018 - 18th Sep 18
Gold / US Dollar Inverse Correlation - 17th Sep 18
The Apple Story - Trump Tariffs Penalize US Multinationals - 17th Sep 18
Wall Street Created Financial Crash Catastrophe Ten Years Later - 17th Sep 18
Trade Wars Are Going To Crash This Stock Market - 17th Sep 18
Why Is Apple Giving This Tiny Stock A $900 Million Opportunity? - 17th Sep 18
Financial Markets Macro/Micro View: Waves and Cycles - 17th Sep 18
Stock Market Bulls Prevail – for Now! - 17th Sep 18
GBPUSD Set to Explode Higher - 17th Sep 18
The China Threat - Global Crisis Hot Spots & Pressure Points - 17th Sep 18 - Jim_Willie_CB
Silver's Relationship with Gold Reaching Historical Extremes - 16th Sep 18
Emerging Markets to Follow and Those to Avoid - 16th Sep 18
Investing - Look at the Facts to Find the Truth - 16th Sep 18
Gold Stocks Forced Capitulation - 15th Sep 18
Hindenburg Omen & Consumer Confidence: More Signs of Stock Market Trouble in 2019 - 15th Sep 18
Trading The Global Future - Bad Consequences - 15th Sep 18
Central Banks Have Gone Rogue, Putting Us All at Risk - 15th Sep 18
Gold Price Seasonal Trend Analysis - 14th Sep 18
Growing Number of Small Businesses Opening – and Closing – In the UK - 14th Sep 18
Gold Price Trend Analysis - Video - 14th Sep 18
Esports Is Exploding—Here’s 3 Best Stocks to Profit From - 13th Sep 18
The Four Steel Men Behind Trump’s Trade War - 13th Sep 18
How Trump Tariffs Could Double America’s Trade Losses - 13th Sep 18
Next Financial Crisis Is Already Here! John Lewis 99% Profits CRASH - Retail Sector Collapse - 13th Sep 18
Trading Cryptocurrencies: To Win, You Must Know Where You're Wrong - 13th Sep 18
Gold, Silver, and USD Index - Three Important “Nothings” - 13th Sep 18
Precious Metals Sector On a Long-term SELL Signal - 13th Sep 18
Does Gambling Regulation Work - A Case Study - 13th Sep 18
The Ritual Burial of the US Constitution - 12th Sep 18
Stock Market Final Probe Higher ... Then the PANIC! - 12th Sep 18
Gold Nuggets And Silver Bullets - 12th Sep 18
Bitcoin Trading - SEC Strikes Again - 12th Sep 18

Market Oracle FREE Newsletter

Trading Any Market

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

© 2005-2018 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

6 Critical Money Making Rules