Message from @The Chosen One
Discord ID: 794840228191141899
Senor ... honestly I think you should leave economics to ... other people.
An extra $200 ish dollars per employee when businesses are already thousands in debt isn’t good.
😂
I’m just not good when it comes to minimum wage
Thats $200 over a whole year, in a 20k annual salary.
It's literally basically nothing
Like, at that point $200 isn't going to break the bank
If you can't afford an extra $200, ngl I don't think you can afford that employee
XD
You have to remember, Even small businesses can often, if not always are handling over 1 mil over a fiscal year
wow
this is ... not great
2020 inflation rate is only .62%
which ... is getting dangerously low
We should lower interest rates.
😃🔫
That’s per employee. My families business had around 15 employees before it shut due to COVID. That’s a good $3,000 less, which only adds to not making profits this year
Ouch
The U.S. Small Business Administration counts companies with as much as $35.5 million in sales and 1,500 employees as "small businesses", depending on the industry.
That’s a good 300k loss, per year at Max
3k is a large expense, but in a normal year, you would also generally raise your prices by a similar 1.2% rate to cover increased inflation
Yeah
We’re fucked
It’s ... not great
We should really get that back up to 1%
We don’t want the economy to start into deflation
I don’t normally condone printing money but I think we need to print money to get it atleast back up to 1
No
Bad idea
That’s a really awful idea
When you want to raise the inflation rate you lower interest rates
Small businesses, especially in retail probably can’t afford a raise in price if the big guys don’t raise price too. Which is concerning to me
The big guys do raise the price
No. Whoever taught you economics didn’t do a very good job no offense 😂
Sure it’ll lower the value of the dollar but honestly we need to get inflation going straight then maybe that’s the only way unless the businesses can reopen or we stop spending massive buck and losing money because the government spends way too damn much
But the price raise is usually a few cents
It was a liberal so understandable
Printing money is a good way to get hyperinflation
Youll never believe this but I got the highest grade in my economic class :/
I feel bad for the other students
If I can’t really keep up with seemingly other average people then idk how the others in my class would handle economic problems