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Wisconsin - The Rich - Unions

 
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PostPosted: Sat Feb 13, 2016 7:55 pm    Post subject: Wisconsin - The Rich - Unions Reply with quote

PeakTrader:

Phil, you lack any important “facts” like Wisconsin population growth has slowed to a little more than 1% a year, its population is aging, and a “brain drain” may be taking place, because of old industries.

Wisconsin is the #2 state in the nation in manufacturing employment as a percent of non-farm employment. The stronger dollar has slowed exports.

****

Phil, you live better today, because creating wealth makes everyone wealthier.

The “rich” lifted living standards for the masses.

Of course, there should be a balance between becoming a superpower and becoming Greece.

And, it should be noted, 37% of Mississippi is African-American, who earn much less.

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Mitch Beales:

The rich “lifted” nothing but the wallets of the workers. Unions lifted living standards for the masses and their members were the ones who “created wealth”.

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PeakTrader:

You had nothing in your wallet, until a “rich” person, who worked hard and took risks, filled your wallet.

Good luck hoping a poor person will fill your wallet.

Overpaid union workers "lifted" from consumers and workers, who needed jobs.

It’s real goods & services that raised your standard of living, not being overpaid to underproduce. And, you’ll need a job to build wealth.

****

Of course, not all unions are the same. When I was in the CWA, I was told by my co-workers not to work so hard, because it was making them look bad, and they wanted overtime, which was a lot of money. We had a great compensation package too. However, I just couldn’t work that slow.

****

Wisconsin needs to plant the seeds of a technology hub, like the Denver Tech Center in the 1970s. Then, in around 20 years, it may become big enough to be a significant part of the state’s economy. It will also attract high-tech labor from the rest of the country and the world. The Denver Tech Center was a vision by leaders in the private sector. However, government may be able to help.

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Samuel:

PT,

UW-Madison is a huge source of research, private-public collaborations, trained professionals, and job generation for the state. Cutting funding for it makes no sense. https://www.rsp.wisc.edu/

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PeakTrader:

Samuel, so, where does cutting funding make sense?

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Samuel:

I would echo baffling’s comment. Years ago, when I worked at a business, it would also burn me when the accountants would ask on my yearly budget projections, “what are you going to cut?” My response was always, how the hell do you grow a business by cutting?

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PeakTrader:

Successful businesses need to at least make a (normal) accounting profit to compete, which includes minimizing costs. So, there’s capital to expand. Otherwise, the business is on a path to bankruptcy.

Because of limited resources, a business needs to produce more output with fewer inputs. Otherwise, a business, or an economy, won’t have the capital and labor to expand. There would be stagnation.


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And, the fact accounting wanted you to cut costs indicates your profits were too low or losses too high. It also suggests it would’ve been easy to cut costs. You could’ve simply copied your competitors, who outperformed you.

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Samuel:

PT-you are right. I never could understand that profit thing. Cut costs till you end up with a pile of crap and hope your marketing dept. can convince consumers to buy the crap and raise prices.

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PeakTrader:

How does a poor person, who didn’t work hard and take risks, hire people?

You’re saying banks should lend money only for a “great idea?”

You want to take away what has proven to work and give to what has not proven to work.

****

Baffling, I didn’t say a rich person is required to start a business. I was responding to criticism of the rich by others and stating realities, like a poor person, who doesn’t work hard and take risks is unlikely to succeed starting a successful business. Taking a risk, like mortgaging your house, implies some wealth.

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