Quote:The co-founder of hardware giant Home Depot mocked Democrats and their posture toward the Republican tax reform bill in a near-seven minute rant on Fox News over the weekend.

Quote:Bernie Marcus, whose company also announced bonuses and raises, was beside himself over Democrats’ characterization of the reform bill. He said:


"You wanna talk about somebody who is off the charts and doesn’t understand reality…it’s [Senate Minority Leader Chuck] Schumer and Pelosi. One thousand dollars is so meaningful…its more than meaningful — it could be paying the mortgage, it could be paying for a car repair, it could be paying for a past due bill.

These are things the Pelosi/Schumer group don’t have a clue about. It’s why they lost the election — it’s as simple as that! They are so with their elitists…and [Hillary] Clinton never knew about the real people out there and that’s why they lost the election. And that’s why they’re going to lose the next election."

Quote:“Remember, this is not the U.S. government. When [businesses] make an investment they do it because there’s got to be a return on invested capital. So they’re gonna do smart things, they’re gonna make smart moves,” Marcus explained.

“Democrats, use your stupid brains. You don’t have any brains!” he exclaimed on Fox.

The businessman concluded the interview by calling on Democrats to stop playing politics and urged them to look for legitimate ways to improve the lives of Americans. “That’s what it’s all about,” Marcus said.

(01-28-2018 10:14 PM)Marc Mensa Wrote:  Why not increase salaries?

I applause giving employees a bonus but an increase in salary would be more meaningful, long term.

Too, what happens when the deficit explodes and Republicans attack SS and Medicare to offset the transfer? Will that bonus help to pay for the workers healthcare or SS once they hit retirement age? That’s ultimately where we’re headed.

(01-28-2018 10:14 PM)Marc Mensa Wrote:  what happens when the deficit explodes

(01-28-2018 10:17 PM)gdunn Wrote:  Where was this concern when the government was giving out money for stimulus? Oh now it's evil corporations giving their money the way they want to you have issues?

(01-28-2018 11:13 PM)Bull_Is_Back Wrote:  

(01-28-2018 10:17 PM)gdunn Wrote:  Where was this concern when the government was giving out money for stimulus? Oh now it's evil corporations giving their money the way they want to you have issues?

Exactly! When the stimulus went to propping up government unions there was nary a tear shed on the left for debt or long term effect.

(01-28-2018 11:59 PM)Mr_XcentricK Wrote:  

(01-28-2018 11:13 PM)Bull_Is_Back Wrote:  

(01-28-2018 10:17 PM)gdunn Wrote:  Where was this concern when the government was giving out money for stimulus? Oh now it's evil corporations giving their money the way they want to you have issues?

Exactly! When the stimulus went to propping up government unions there was nary a tear shed on the left for debt or long term effect.

And banks. And the auto industry and did you leave anyone else out when. You mentioned just the unions ?

(01-28-2018 08:17 PM)Kaplony Wrote:  https://www.theblaze.com/news/2018/01/28/home-depot-founder-eviscerates-democrats-for-bashing-tax-reform-savings-use-your-stupid-brains

Quote:The co-founder of hardware giant Home Depot mocked Democrats and their posture toward the Republican tax reform bill in a near-seven minute rant on Fox News over the weekend.

Quote:Bernie Marcus, whose company also announced bonuses and raises, was beside himself over Democrats’ characterization of the reform bill. He said:


"You wanna talk about somebody who is off the charts and doesn’t understand reality…it’s [Senate Minority Leader Chuck] Schumer and Pelosi. One thousand dollars is so meaningful…its more than meaningful — it could be paying the mortgage, it could be paying for a car repair, it could be paying for a past due bill.

These are things the Pelosi/Schumer group don’t have a clue about. It’s why they lost the election — it’s as simple as that! They are so with their elitists…and [Hillary] Clinton never knew about the real people out there and that’s why they lost the election. And that’s why they’re going to lose the next election."

Quote:“Remember, this is not the U.S. government. When [businesses] make an investment they do it because there’s got to be a return on invested capital. So they’re gonna do smart things, they’re gonna make smart moves,” Marcus explained.

“Democrats, use your stupid brains. You don’t have any brains!” he exclaimed on Fox.

The businessman concluded the interview by calling on Democrats to stop playing politics and urged them to look for legitimate ways to improve the lives of Americans. “That’s what it’s all about,” Marcus said.

(01-28-2018 08:50 PM)TechRocks Wrote:  American workers are deplorable.

(01-28-2018 10:14 PM)Marc Mensa Wrote:  Why not increase salaries?

I applause giving employees a bonus but an increase in salary would be more meaningful, long term.

Too, what happens when the deficit explodes and Republicans attack SS and Medicare to offset the transfer? Will that bonus help to pay for the workers healthcare or SS once they hit retirement age? That’s ultimately where we’re headed.

(01-28-2018 10:14 PM)Marc Mensa Wrote:  Why not increase salaries?
I applause giving employees a bonus but an increase in salary would be more meaningful, long term.

Quote:Too, what happens when the deficit explodes and Republicans attack SS and Medicare to offset the transfer? Will that bonus help to pay for the workers healthcare or SS once they hit retirement age? That’s ultimately where we’re headed.

(01-29-2018 01:31 AM)JMUDunk Wrote:  

(01-28-2018 08:50 PM)TechRocks Wrote:  American workers are deplorable.

Yes, agreed. 100%.

And this is why Cryin Shmucky is so on point. We need an increased flux of unskilled Mesicans, Guatemalans and Salvadorans to replace them. They are harder working, more "honest" (except for the fence jumping), all valedictorians or Vets, and clearly more virtuous than any of us or anyone else.

I weep for them too.

Quote:It's that last phrase: labour supply is almost perfectly inelastic. We normally think of both income and substitution effects when thinking about wages. The first is the idea that there's some income we think we need to make and we'll work until we do so. The second is that we find other things interesting in life as well, over and above work, and what we get paid to work has to be higher than that value. Otherwise we won't work. Near perfectly inelastic means that the income effect is entirely dominating here: there's almost no substitution going on. Even if we offer $2 an hour and that's the only work going then the illegals will do that rather than going fishing as we would.

Why?

The obvious answer being that the illegals don't have access to the welfare state. They don't get Section 8 vouchers, don't get SNAP, don't get unemployment pay, don't get the near 80 varied programs that exist. And that's what explains the difference in labour supply. If an employer tries to take advantage of us legals with very low wages not only can we report them but also we can just walk away from the offer. We've got something we can fall back on other than a $2 an hour job. Illegals do not. And this is what explains the difference in labour supply.

The point to really grasp here though is not about illegal labour at all. It's about all that shouting that welfare is a subsidy to employers of low wage labour. But it isn't, is it? Look what happens to the price of labour when there's no welfare available. It doesn't rise at all: it falls. Thus welfare (other than the EITC, which is only paid to legals in work) is, far from being a subsidy to employers, an anti-subsidy. It raises the wages that employers must pay: in the jargon it raises the reservation wage.

(01-29-2018 12:18 PM)Marc Mensa Wrote:  The bonus' are a PR stunt that will backfire in a couple of years.