Minimum Wage Debunked - Why Amazon & Walmart Love the Idea

so look with elections being around the corner the one topic that keeps coming up is this minimum wasting $15 an hour is it a myth is that a propaganda is it a good thing it sounds noble does it benefit the younger audience does it benefit the experienced people does it benefit larger corporations maybe the small business owner benefits from this maybe it's just a benefit for the government but what is the whole purpose of this minimum wage is it a myth or should we really pay attention to so today in this video I'm going to explain minimum wage in a complete different way especially the one topic the next time somebody owes a politician Republican or Democrat tells you minimum wage needs to go up you need to ask a question from them and see how they'll respond to it we'll talk about that I'm gonna give you the cheapest cities in America to live in the most expensive cities in America to live in based on the Consumer Price Index and then on top of that 8 things you can do to increase your market value so you don't just make the minimum wage we start making some real money so before we get into the first thing I want to do is I want to study the history of minimum wage and what kind of presidents raise the minimum wage more Democrats more Republicans how did it work out you're gonna be shell-shocked what Barack Obama and Ronald Reagan have income and when it comes out to raising the minimum wage pretty strange tune but let's get right into it October 1938 FDR introduces the minimum wage for the first time in America 25 cents per hour which is in today's dollars four dollars an hour year later he raises it again as a Democrat racer twice Truman twice as a Democrat eisenhower once as a Republican Kennedy twice as a Democrat Johnson twice as a Democrat Nixon once forth twice Carter four times during one term which during his time the economy in America was in shambles it cost him the re-election Ronald Reagan gets elected wins 49 out of 50 states and you ready Ronald Reagan never once raised minimum wage and the economy blew up during his time George Bush Senior raise the minimum wage twice as a Republican Clinton twice as a Democrat GW the son twice as a Republican ready Barack Obama is the only Democratic president that was a two-term president who raised the minimum wage on since FDR let me say this again he is the only Democratic president that raised the minimum wage only once in two terms in the market still recovered minimum wage to me as a myth I'll explain why living wage is math market value is a path let me explain minimum wage is a myth how do these politicians come up with $15 an hour I actually want to know how did you come up with it and it's $15 an hour in one city the same as $15 an hour in another city watch this first of all $15 an hour at 40 hours a week 52 weeks in a year is thirty one thousand two hundred dollars that's poverty level is what you're making so $15 an hour doesn't affect anybody about do I run a business have nearly a hundred employees here that work for me in the state of Texas my minimum wage for Texas is only 725 there's only two people I pay less than $15 an hour and they paid $13 an hour they've only been with me for 60 days I want talent to expect more and I want a better pool of people coming here right but that's a choice not by force I don't pay 720 I would never pay 720 because I want my employees to be able to have a good life they survive they perform better for me not by force by choice but watch this let's talk about this minimum wage 15 times 40 times 60 to 30 $1,200 living wage is a mathematical formula there's an organization out there called Economic Policy Institute epi you can click on a link below and when you go to this website you can pick whatever city you want to live in to find out what is the living wage cost of living in that city based on the economy of that city the cost of living of that city you see that I trust because it's basic math and data versus minimum wages $15 an hour these people we need to pay more it's not enough pay and some people that are naive they're like oh my gosh this guy sounds so noble but in reality whenever a politician from the left or the right gets up and just starts throwing numbers like that out there you know what they're doing they are questioning our intelligence and I don't like that and I don't think you do either sounds noble but what they're trying to say is no one's really gonna go out there and do research and find that it's really living wage not minimum wage so let me show you some data the stick minimum wage and let's look at the top 10 cities in America to see how much buying power your hundred dollar has in these different cities I got the top ten cheapest cities in America to limit and I got the top ten most expensive cities in America to them and let's take a look at the cheapest ones Brown was Ville Texas ready $100 in Brownsville Texas to go buy what you buy with $100 the buying power in Brownsville you only need 85 dollars because the cost of living there is fourteen point nine percent below the market so if you spend a hundred somewhere you only need 85 over here okay and then I have the income there the average incomes thirty four thousand you know the average home is eighty three thousand dollars fifteen dollars an hour in Brownsville you are doing good you're okay but not in a different City so Oklahoma City is at fifteen point one Jonesboro Arkansas fifteen point five Memphis six seven Knoxville seventeen point at which it falls eighteen three you see how this goes twenty five twenty one point for convoy 21.8 look at McAllen Texas 23.9% your hundred dollars the buying power to match one hundred dollars you need seventy six dollars in McAllen as you need a hundred dollars meaning if you go to dinner the cost transportation everything together you would need a hundred dollars in McAllen Texas you only need seventy six dollars fifteen dollars an hour in McAllen Texas you may be rolling you may be having a comfortable life but let's look at the top ten most expensive cities in America ready number ten San Diego cut stead of living forty-six one you know what it means hundred dollars to go to a restaurant in San Diego it's gonna cost you one hundred and forty six dollars and ten cents average home value 488 big difference between 83 and 488 la 48% Boston 48 Seattle 49 Oakland 49 5bc 55:7 Brooklyn eighty to one hundred dollars you need one eighty to Honolulu 88 three San Francisco 90 to nine ready for Manhattan now hundred out or dinner you want to go to and Manhattan's gonna cost you two hundred thirty eight dollars and sixty cents let me say that one more time that same hundred dollar dinner it's gonna cost you two hundred and thirty eight dollars and sixty cents the average home value Manhattan's 871 thousand dollars ten times more than the one in Brownsville Texas so $15 an hour what does it really mean in Manhattan I thought these politicians were brilliant when they would get up and say $15 SNR is gonna make a big impact really you know what the rent is in Manhattan the minimum average rent in is four thousand five hundred and fifty nine dollars a month let me say it again four thousand five hundred and fifty nine dollars a month is rent that's after taxes that is nearly sixty thousand dollars just for rent after tax pre-tax is a hundred thousand dollars give or take to go grocery shopping in Manhattan forty percent premium transportation is thirty percent higher than any world's movie tickets for you and your family fifty percent higher so how did it come up with this minimum wage number oh it's just a guessing game there Synder saying what should I say from stage that's gonna get the vote why don't you you know because there's more people that don't make a lot of money just talk about raising the minimum wage you'll come across as noble and you care for people you can't elect it brilliant idea what number should I say how about you say twelve let's say fifteen let's be more aggressive hey that's awesome let's do it I think we need to raise the minimum wage $15 what a noble human being let's make you more president and people fall for 15 bucks an hour who's a really benefit if we raise the minimum wage you ready you know how a lot of times you'll hear politicians say things like Walmart it's unfair what Walmart is doing they're putting small business owners out of business really Walmart's doing that Amazon it is unfair what Amazon is doing they're putting so many small business owners Rodgers bookstore went out of business Johnny's liquor store went out of business Bobby's market went out of business because of Walmart and Amazon wait a minute wait a minute wait a minute let me ask you a real question here who can really afford to pay higher wages if they were to raise the minimum wage Walmart or Bobby market okay bobby's market profits ten grand in a month 20 grand in a month he can't afford to raise the minimum wage because he's out of business he's in a small city Walmart doesn't care every single time they raise the minimum wage just so you know Amazon Walmart Apple Google all these guys are sitting there saying awesome keep doing it because all these small business owners are gonna go out of business and we get them all because we can afford to race because all we're gonna do is what you raise minimum wage we do the basic math this just dropped off our profits by 4% let's raise the cost of our product by 4% we should sell it for $120 now let's set up $425 Thank You politicians you put out our competitions you're the best we love you so much so don't be fooled by next time when politicians say $15 for the people $15 and ours is really for the big corporations very basic math I'm not telling you anything that sounds out of the ordinary that's just kind of how math works so let's talk about the last of market value this is what I would like to see our leaders politicians people running talk about more what do I need to do to increase my market value the word I would like to hold our politicians that are running for office accountable is not minimum wage I want to hear your thoughts on living wage I want to hear your thoughts on market value so now you're asking what Pat I want to increase my market value what do I do eight things for you to consider number one skills when it comes up to skill set you're gonna mean four different categories which means what anyone can do what you're doing which means you're also at the bottom and you're affected by minimum wage number two only a few people can do what you do you're pretty good at it which means you get paid a little bit more top 1% you're in the top 1% which means you get paid good money and you're the best when you're the best guess what you do you tell the market what to pay you because you are the best now a lot of people would like to get paid with the top 1% gets paid or the best gets paid you know what it takes a lot of sacrifice a lot of hours a lot of dedication a lot of time away from family a lot of nights of working late studying trying to figure out a way to get better no TV none of this other stuff taking care of your health discipline you know who likes doing that only the top 1% so the top 1% gets paid what they get paid they're willing to do what a few and anyone is not willing to do very simple by the way say you come to a restaurant for you and your husband you and your wife you and your boyfriend/girlfriend you will understand $200 for dinner are you okay if I'm winging the chicken and it's my first day making chicken or prime rib I don't know how to really make a bone-in ribeye medium I kind of can go medium well I don't really know how long I should put it flip it seasoning I don't know just a bunch of salt on it and I'm cooking like anybody else are you okay spending $200 for an amateur like me your answer is what no maybe you said hell no that's exactly the point so minimum wage is set up for no reason if you increase you don't ever worry about things like this because in a marketplace you're in the top 1% of fewer the best now number 2 industry choose the right industry a lot of people say noble industry I want to go do this I want to go do that I get it it's awesome but if you become a school teacher teaching fine arts don't expect to make a quarter-million dollar your income okay unless if the Dean is your dad but if you want to try to do something that's going to make good money for you you got to look at industries now you can use your talents but it's got a bigger upside number three avoid the passion drug let me explain what I mean by the passion drug a lot of these motivational speakers online people chase your passion go after your passion you should go after your passion if you can do this with this and it's listen all good I'm not saying anything about passion I have a completely different mindset with passion let me explain to what I mean by passion to me if you're 20 30 40 50 60 70 80 you got to have a game plan this is my game plan there's four C's you ought to go through in life there's four 20-year term in your life the first 20 years is curiosity learn go out there see what people are like learn about different cultures learn about different things learn learn learn the first 20 or you're curious next 20 years career going to a career where you can make money money matters money matters a lot in life who ever tells you money doesn't matter they are probably single with no kids never been marrying them on the home before money is critical the number one topic husband and wife argue wants to have kids is money so if you're single right now what no kids you better realize you go on this hot date of yours with your girl and she looks amazing and you look hot you got your six-pack I love her so much you like that tiramisu let me put it in your mouth let's have wine do you want to go to my car oh my gosh we made out it was so good third-base I love her mom dad look at this scrum love to screw here all this other stuff boom you get married who's paying a bill oh well my mom makes money and and they have to pay for it and they covered it okay who's paying the rent who's paying a house how about the bit sex was good but she's pregnant ready two hundred fifty thousand dollars per kid from zero to 18 not including inflation okay you want to go to birthday parties you want to try but how about honey man I thought we got to travel together oh my gosh this thing's so expensive money matters money matters don't let anybody lie to you okay money matters the next twenty four forty to sixty can be creative because now have flexibility you have money hopefully you've said you can be a little bit more flexible you can be a little bit more different right and the last two this contribution what do you want to do politics charity go work for UNICEF you want to go travel the world go to it contribute as much as you want Church any of this stuff you now have done it properly and when they talk about passion yeah but no idea how many things I'm passionate about but I can do it within my vision of the company I'm building I don't have to leave that money matters life is expensive next point number four specialize don't generalize specialize number five intrapreneur if you can find a company that can work with internally work your butt off go above everybody else ask for a piece of the company profit sharing equity and you can be part of somebody you see that's running hard and somebody that you know that person has got a vision they're working they're going through they're like I can just hang on to this person's kotel and make a lot of money you ought to do it so many times people want to start their own business I tell them why don't you go work with somebody and get a piece of what they're doing and ask them what do I need to do become an entrepreneur in an alternative to being an entrepreneur ten you're trapped don't fall for this ten you're trap well you know if they've told me if I work for LAUSD for ten years I get this ten-year benefit and they can't ever fire me and I'm just locked in but you're only making 47 grand a year what are you doing don't fall for this ten your trap deal that's gonna make a difference in your life at all ten your trap is the same trap as a minimum-wage trap don't fall for it number seven value value value value value value the more value you bring to the world the more people want to do for you so the more value brink market value goes up and last but not least connections in your community let's when you build a community and you have the right connections that attracts money because your market value goes up if you're rubbing elbows with the right people somehow someway you end up doing business with them just today I was speaking to a guy that runs one of the biggest speaking companies meaning he works with all these guys that are speakers right and we started going through a list of people and speakers and he gave me this name and that name and this name how the hell did this guy make 1.9 billion dollars how did that guy make 2.2 billion dollars he was in the community when they started a company and he was a guy that was there for the first seven years and that's the piece that's what no way yeah community connections get into right community and connections and stick around especially if the people are drivers there eventually you're gonna have your break so now you know how I feel about the minimum wage and why my thoughts are we ought to be talking about living with your market value way more than minimum weight so if you have anybody that keeps bringing up the minimum wage debate say watch this video and tell me what you think about it right now two videos I want you to watch if you're watching the same path I really do want to increase my market value but I want to go a little bit deeper I've got two videos I want you to watch one is how to reach your full potential I was asked this question and I said I'm gonna take a deep dive on explaining this topic on how to reach your full potential this is a deep dive however it's pretty direct and you may not like some of it because I'm going to be talking about the truth with you and it's gonna hurt so here the first one is how to reach your full potential the other video I want you to watch is seven Habits that I help you dominate in 2019 so those are the two videos I'm gonna give you a PDF of today's video if you text seven four seven two six zero eight four six one again Texas at seven four seven two six zero eight four six one and we will send you the PDF of today's episode you can really look at all the numbers that maybe I skipped through a little bit fast in this episode having said that if you haven't subscribed please do so thanks for watching everybody take care bye bye

Channel: Valuetainment

Views: 477,470

Rating: 4.7095847 out of 5

Keywords: Entrepreneur, Entrepreneurs, Entrepreneurship, Entrepreneur Motivation, Entrepreneur Advice, Startup Entrepreneurs, valuetainment, patrick bet david, minimum wage, minimum wage explanation, Minimum Wage Debunked- Why Amazon & Walmart Love The Idea, aoc minimum wage

Id: mHkLDX8uoCI

Length: 17min 30sec (1050 seconds)

Published: Tue Mar 26 2019

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[u/ScrappyDoo998]

Not super into this tbh. I'm suspicious of anyone who's like "The other side believes what it does because it's stupid. But not you. YOU'RE smart. YOU'RE enlightened. YOU understand the truth. The truth, of course, is [insert partisan point of view disguised as unbiased fact]." And then idiots are like "Yeah, I AM smart!" Plus he's citing highly partisan research groups without mentioning their affiliation. https://www.influencewatch.org/non-profit/economic-policy-institute/ Personaly, I think this is the kind of fuzzy, can't-tell-what-their-motive-is creepy internet influence type stuff that I think we should be trying to rise above here. Also the fact that it's mixed with a motivational message to obscure it further - Jordan peterson does the same thing. I honestly don't know what this is, but it's not unbiased.