California price,tariff,expense increase for 2018/2019

Discussion in 'Politics, Religion, Social Issues' started by stylinexpat, May 21, 2019.

  1. stylinexpat macrumors 65816

    stylinexpat

    Joined:
    Mar 6, 2009
    #1
    As of July 2019 minimum wage in Los Angeles, California will go to $14.25. In Santa Barbara apparently water and trash for businesses will be going up 15%. Fuel increased by about 10% recently, tariffs on consumer goods due Trump dispute with China adds another 25% to retail prices as well. Retail businesses will raise prices for food in June due to higher salary wages they have to pay and due to higher utility bills that they have to pay. Then depending on what tax brackets one falls into some can be losing 10% from their returns this year as well.

    When you add up all the numbers that consumers have to pay I can see this getting ugly this year for the economy.

    All this gets passed on to the consumer and I don’t see wages going up high enough to cover the difference because you have to factor in being taxed at $14.25 per hour now instead of $13.25 per hour as the government collects roughly an extra 9% off minimum wage increase if one calculates it at 30%

    https://www.reuters.com/article/us-...-companies-idUSKCN1SR1UI?utm_source=applenews

    https://laist.com/2019/05/10/homelessness_increase_los_angeles_inequality.php


    4ABE104C-FF12-45D6-9B8C-E990560553B9.jpeg


    What happens in the end is people spend less at retail shops and earnings will show this as they did with Nordstrom’s today. Then share price tanks

    https://www.google.com/amp/s/market...nings-stock-near-3-year-low-2019-5-1028219441
     
  2. blackfox Suspended

    blackfox

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  3. bambooshots macrumors 65816

    bambooshots

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  4. stylinexpat thread starter macrumors 65816

    stylinexpat

    Joined:
    Mar 6, 2009
    #4
    Increase in homelessness in California and less extra cash in hand for many which will hurt retail sales. Cost of living has gone up a lot since 2018

    https://www.pe.com/2019/05/21/southern-california-lacks-759000-affordable-homes-report-says/amp/

    https://laist.com/2019/05/10/homelessness_increase_los_angeles_inequality.php
    --- Post Merged, May 21, 2019 ---
    No, China’s fault or perhaps Iran’s fault o_O We should blame them perhaps for our increase of cost of living.
     
  5. jkcerda macrumors 6502a

    jkcerda

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  6. stylinexpat thread starter macrumors 65816

    stylinexpat

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5 May 21, 2019