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Old 01-11-2018, 09:32 AM  
Just Passin' By Just Passin' By is offline
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Bloomberg: Wal-Mart Raises Hourly Wage to $11 in Wake of Tax Overhaul

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Wal-Mart Stores Inc. is boosting its starting hourly wage to $11 and delivering bonuses to employees, capitalizing on the U.S. tax overhaul to stay competitive in a tightening labor market.

The increase takes effect next month and will cost $300 million on top of annual wage hikes that were already planned, the world’s largest retailer said Thursday. The one-time bonus of up to $1,000 is based on seniority and will amount to an additional $400 million. The company is also expanding its maternity and parental leave policy and adding an adoption benefit...
https://www.bloomberg.com/news/artic...f-tax-overhaul


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Old 01-11-2018, 11:21 AM   #46
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Originally Posted by Over Yonder View Post
I do live in BFE, that's why I said a lot of rural areas that $11/hr would be good money. Although not a true comparison because it's a payment and not rent, I live in a 5 bed 3 bath modular sitting on a full basement and 5 acres, and my payment is 450/month. I can assure you it's a nice place also, it was new in 2006.

I can get you a roach motel here in the neighborhood of $150ish. My definition of decent is small, but overall clean. It's the good part of living in BFE
SHHHH! The SOB's will be moving to the country.
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Old 01-11-2018, 11:22 AM   #47
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Originally Posted by IowaHawkeyeChief View Post
It's true. Here's the catch... It's as nice of a place as you can rent near a large city for $1000.

Why? The acquisition cost of the building and low taxes allows nice rentals to cash flow easily at $300.

I work in an industry that pays me fairly well. I have had many opportunities to move to the east coast and double my income, but it would only make my life more hectic and my standard of living would actually decrease.
I would add to this the local job market. The area can't support a $6 or $700 rental. The local jobs simply don't support that.
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Old 01-11-2018, 11:28 AM   #48
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Originally Posted by Loneiguana View Post
I lived on an average of 11.50 (factor in tips) for years going through college.

I made it happen because I lived with my now current wife who also made over 10 an hour going through college.

And I wouldn't wish that type of living on anyone.
Where is the question. If you did that in New York City, then ya, I'd say it sucked. If you did it in BFE and still had troubles living (assuming you were not packing some other form of debt) I'd say you are/were a piss poor manager of money. Location is my point of discussion here. A dollar is worth more in some places if you follow what I'm getting at.
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Old 01-11-2018, 11:31 AM   #49
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Originally Posted by IowaHawkeyeChief View Post
SHHHH! The SOB's will be moving to the country.


Oh hell, never thought of that.

THE COUNTRY LIFE SUCKS, DON'T EVEN CONSIDER IT!!!

Wild animals feed on liberals in the country, don't move here
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Old 01-11-2018, 11:31 AM   #50
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Personally, heck yeah I'm grateful. In the long run though, it just increase the national debt that our children and grandchildren will be saddled with...of course many folks don't give a shit about that though. I do.

Eh, my medical exam is calling....I'll check back later.
it's a matter of perspective. I haven't seen most of the people whining about the national debt due to the tax cut say a damn word about it while Obama was doubling it over 8 years.


It's also a matter of perspective on how you see taxes and revenue. I'll use the sample of a small rural town I recently had a discussion with some decision makers. Within visible site there were 2 adjacent buildings that were being torn down. During our discussion on property taxes I proposed the subject of tax abatement to stimulate development-construction. In short, without new construction, rural communities lose their tax base which is a problem.

One of the politicians made comments about "losing or getting screwed out of 5-10 years of taxes"...and my counter was to point at the buildings being torn down and inquiring about the taxes on those locations if nothing new is ever built vs helping someone build new and having an increased value for the future. Some people don't see the big picture.

While lowering the taxes for corps DOES reduce tax income to the government on the surface, it also increases payroll taxes, raised wages pay more into medicare and SS to bolster those funds. Corporations buying equipment pay taxes on those items and help increase demand for the manufacturers of those items...In short, in my estimation the reduced corporate tax rate as well as individual will stimulate construction-purchase-and wages which will result in overall net growth of tax income from those sources.
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Old 01-11-2018, 11:32 AM   #51
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Originally Posted by Over Yonder View Post


Oh hell, never thought of that.

THE COUNTRY LIFE SUCKS, DON'T EVEN CONSIDER IT!!!

Wild animals feed on liberals in the country, don't move here
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Old 01-11-2018, 11:43 AM   #52
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Originally Posted by Loneiguana View Post
I'll just point out, again, that Wal Mart did this in 2015 and 2016.

Thanks Obama.
Walmart lives on selling a shit ton of stuff at a low margin. This means they have to manage their employee wages and benefits just as closely to stay competitive with Amazon and others. Those past years reflect those changes as well. As the economy improves, currently projected to grow at 3% for four consecutive quarters for the first time in over a decade, so will wage pressure. You may have also missed this from the article:

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The company is also expanding its maternity and parental leave policy and adding an adoption benefit...
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Old 01-11-2018, 11:48 AM   #53
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I lived on an average of 11.50 (factor in tips) for years going through college.

I made it happen because I lived with my now current wife who also made over 10 an hour going through college.

And I wouldn't wish that type of living on anyone.
I disagree.

Those were great times. And although I have amassed a sizable net worth, the days of wife and I both students, me working three jobs and her one were the best times of life. And we learned an ass ton about frugality and learning to appreciate things for what they were not what they cost.

We still practice what some people would call being cheap, its what we know. But it also was what allows us a trip to Europe every year, her new kitchen about to be done, and ability to give to our church, our library foundation and the Heart association at relatively major levels.
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Old 01-11-2018, 11:52 AM   #54
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Originally Posted by Over Yonder View Post
Where is the question. If you did that in New York City, then ya, I'd say it sucked. If you did it in BFE and still had troubles living (assuming you were not packing some other form of debt) I'd say you are/were a piss poor manager of money. Location is my point of discussion here. A dollar is worth more in some places if you follow what I'm getting at.
Springfield MO.

Rent averaged between 4-600 dollars. And I considered myself lucky I was able to pay that little for decent housing. Springfield has some real shitty housing at College town prices. And that is still a significant portion of little paycheck.

And no, weren't piss poor with money. We were able to put 20 percent down for a house and year and half removed from college, something a lot of my generation cannot do and I was able to get my student loans paid off before I got my professional well paying job.

But it required living paycheck to paycheck, zero smart phones. We lived very spartan. In the winter, heat set to 59 during the day, 55 at night. Bundle up. Run the AC in the summer? lol nope, attic fan.

And that's my point to why I don't wish that on anyone. There is hardly any savings. God forbid if we had a kid.
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Old 01-11-2018, 11:55 AM   #55
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Originally Posted by Loneiguana View Post
Springfield MO.

Rent averaged between 4-600 dollars. And I considered myself lucky I was able to pay that little for decent housing. Springfield has some real shitty housing at College town prices. And that is still a significant portion of little paycheck.

And no, weren't piss poor with money. We were able to put 20 percent down for a house, something a lot of my generation cannot do and was able to get my student loans paid before I got my professional well paying job.

But it required living paycheck to paycheck, zero smart phones. We lived very spartan. In the winter, heat set to 59 during the day, 55 at night. Bundle up. Run the AC in the summer? lol nope, attic fan.

And that's my point to why I don't wish that on anyone. There is hardly any savings. God forbid we had a kid.
Wow, sounds like you were personally responsible and sensible during this time of your life. If only more would take your lead as they CAN do it, it just isn't as fun.
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Old 01-11-2018, 12:00 PM   #56
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I disagree.

Those were great times. And although I have amassed a sizable net worth, the days of wife and I both students, me working three jobs and her one were the best times of life. And we learned an ass ton about frugality and learning to appreciate things for what they were not what they cost.

We still practice what some people would call being cheap, its what we know. But it also was what allows us a trip to Europe every year, her new kitchen about to be done, and ability to give to our church, our library foundation and the Heart association at relatively major levels.
It did teach us, harshly, to live within means. I doubt no matter how much money the wife and I make, we will ever do the "people live up to their paychecks" thing because we have gotten so use to just not buying stuff.

I too worked 3 jobs. (regular one for money, part time one for experience, intern for experience) while in school and hardly saw my wife. That part sucked a lot.

But no, I can wish that people can learn those lessons without living paycheck to paycheck.
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Old 01-11-2018, 12:05 PM   #57
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Decisions have consequences.

If you're working at Walmart when you're 40 for $8.50/hr I'm going to wonder if you dropped out of HS, had a drug problem etc....If your decisions or unwillingness to put in the work to improve your options are the reason you're in low wage jobs, it's not my fault.

For those of us who worked multiple shitty jobs for long, grueling hours to have superior options, I congratulate you. That's what the low end jobs are for..stepping stones.

In 1993 when I was working a construction job for $8, I felt like the king of the world when I got another for $11, and took a ridiculous amount of bullshit from the boss while the voice in my head said "$11/hr..$11/hr...don't smash him with this shove....$11/hr)...until one day the money wasn't worth it and me and old Oney had a go. If your perspective is that "I"m doing this now to get where I'm going" you're going to be fine.
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Old 01-11-2018, 12:07 PM   #58
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Wow, sounds like you were personally responsible and sensible during this time of your life. If only more would take your lead as they CAN do it, it just isn't as fun.
I had hard work and responsibility, sure.

I also had extremely good luck. I didn't have medical insurance and was very lucky I never was seriously hurt or sick or in an accident.

My wife didn't get knocked up.

I had family support for if and when things went tits up. Or just to help get the furniture. We couldn't buy a new washer and dyer without credit, but luckly my grandparents offered to help.

It took waaay too long, but not going full time all the time in college allowed me to not have 10s of thousands of dollars in student loans.

Both my wife and I were able to find jobs that paid more the minimum wage. Why did you work at a restaurant some many years Loneiguana? Because it paid more than the other no skill jobs I could get at the time.

We had no other outstanding debt from say an accident in the past.

We were able to find a house that the owner rented out, not through a company. So in exchange for basically zero maintenance, he never raised rent once.

Hard work can get you a lot. But I recognize the help and advantages I have had that got me here today.
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Old 01-11-2018, 12:08 PM   #59
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Originally Posted by Loneiguana View Post
It did teach us, harshly, to live within means. I doubt no matter how much money the wife and I make, we will ever do the "people live up to their paychecks" thing because we have gotten so use to just not buying stuff.

I too worked 3 jobs. (regular one for money, part time one for experience, intern for experience) while in school and hardly saw my wife. That part sucked a lot.

But no, I can wish that people can learn those lessons without living paycheck to paycheck.
I know we have had some battles before , but this revelation is enlightening to me and I respect you for the hard work. It's very hard to do what you did, but most CAN do it, but choose not to do it. This is called responsibility. Doesn't upset you when you see others take out the max student loan and use it for other things besides tuition. Many of these kids don't have 1 job, let alone 3. They graduate with huge debt and many still only work one job and complain about their situation.

I am just surprised your not more conservative when it comes to some taking advantage of the government and not showing personal responsibility after you did.
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Old 01-11-2018, 12:09 PM   #60
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That sounds a lot like a Bootstraps story.

Welcome to the Conservative movement.
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