Thread
When you stop to get a shoe shine, do you ask the person how many customers they have had that day and how much they need to live on, or do you ask for the price?
When you buy a loaf of bread from a vendor at a fair, do you ask the person how many customers they have had that day? Do you not care that they may not make a “living wage” that day? Are you not personally obligated by taking their output to ensure they can live? Of course not.
When you trade your money for others’ time or skills, that is based on the value you place on the skills, supply, demand, not an evaluation of their personal needs. This is no different than when someone applies for a job in low-skilled arenas.
It a Marxist concept to think the amount someone should be paid should be based on some evaluation of need vs. what they are providing.
While I understand that people want others to not struggle, raising wages artificially doesn’t do that and does quite the opposite. It’s a perfect illustration of the road to hell being paved with good intentions.
The minimum wage has a racist, misogynist history meant to keep people out of the workforce. It has the same effect today.
Artificially raising wages means that jobs will be consolidated, replaced by tech and/or businesses will fold. It will create fewer opportunities and more people unemployed. If you think it’s hard to live on the minimum wage, try living on no wage.
Also, let’s remember both sides, which include an individual’s responsibility and obligation. I know this is unpopular to say, but it is realistic. If you have few skills and many obligations, you will likely need to work more than 40 hours a week.
Most small business owners subject to these costs work at least 60-80 hours a week, or more, and nobody guarantees their wages, while they risk their own capital.
I personally had at least a half a dozen minimum wage jobs before and through high school and college. I would not have had any experience (or ability to earn money as a young person) with higher wage mandates. Many will suffer the same fate.
You can want people to be paid well without creating a barrier via law- which isn’t what the law and government is for- that will keep people from getting their first jobs and giving them opportunities to advance and build their skills and experience.
Let people decide whether they want to exchange their time and skills for what is being offered, both in wage but also future opportunities. That’s not for you or a politician to decide. My work, my choice.

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More from @caroljsroth

29 Dec 20
Thread/
Why do people not trust “experts”, the govt or the media?

Here’s a little bit on what happened around masks.

While some will say the science changed or the information changed, it did not. The politics changed (as admitted in the
thread)…
First, studies back to 2007 recommended mask wearing as protocol for similar respiratory viruses. This was known by “experts”. ncbi.nlm.nih.gov/pmc/articles/P…; acpjournals.org/doi/10.7326/00…; nytimes.com/2020/03/27/hea…
Here’s what we were told.
February 2020, people were buying masks on their own. The US Surgeon general said to STOP

Read 17 tweets
1 Dec 20
Board diversity thread re @Nasdaq’s diversity quota—

I have been a public company director; I’m currently a private company director and let me tell you why this is a horrible idea...

wsj.com/articles/nasda…
First, is board diversity an issue. Yes. Boards in general are packed with cronies and people not willing to "go against the crowd".

Diversity is a good and important factor for corporate governance and otherwise, but quotas make me uncomfortable...
Diversity is valuable because it ensures a variety of perspectives, experiences, networks & thought processes are included in the company’s management or governance. This gives companies a richer pool of information to draw from and more thoughtful customer & stakeholder outcomes
Read 9 tweets
7 Jun 20
Hey, @BridgetPhetasy, I hate to be the bearer of bad news, but...
By the way, in Tom Arnold’s fantasy civil war, which side do you think has the advantage? The guy who is going to “borrow his dad’s hunting rifle” or the ones who have a bunch and know how to use them? Dude, seriously.
“Tom Arnold and Rob Reiner in...Civil War, 2020!”
Read 5 tweets
18 Apr 20
Let me run through this shoddy “CARES Act” math & strategy again (which should be called Congress really doesn't care about small biz)...

Small biz is HALF the economy- half the revenues, half the employees- in more than 30 million entities...
Despite being forced to shut down in many cases, they received less than 20% of the “CARES” stimulus, which required a free-for-all at banks (which, not surprisingly, seem to have prioritized larger small biz customers w existing relationships)...
...leaving most small biz, particularly the smaller & more vulnerable, out in the cold, all while universities, including those w big endowments, got billions & govt cronies like the Kennedy Center millions without having to do squat.

This isn't emergency "CARE", it's a travesty
Read 5 tweets
7 Nov 19
It is not immoral for anyone to have a lot of wealth that was created legally.

It is highly immoral for any individual or govt to decide they should confiscate that wealth to use it to fund their own preferred projects, items, desires...
Wealthy people don't swim in a big coin room like Scrooge McDuck.

That money is used to buy things which supports jobs/economy, to invest, which supports jobs/economy & for charity.

As the pie is not fixed in the US, the wealth was created & is not at someone else's expense.
The govt takes in more than $3 trillion at the federal level- that's more than enough $. Spending is the problem.

And if you didn't have people creating wealth and expanding the pie, there wouldn't be the ability to even spend at that level w/o more debt.
Read 5 tweets
22 Oct 19
The American Dream is not dead. Not even close. What is dead-or at least dying- is people realizing that to achieve the American Dream, they have to make sacrifices, tough choices & prioritize as they don’t get every thing at once or just for living under the red, white & blue.
I can take just about anyone of prime working age, with the exceptions of those w true disabilities, and have them making six figures and living in a big house. However, you may not get to do what you want to do. You might have to do hard labor or work some overtime...
You may have to move from NYC to Indiana.

That’s the deal. It used to be understood you could have a nice home or a car or take great trips. But you have to put in the work and delay other consumer gratification. You might not everything at once—you pick what is important.
Read 7 tweets

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