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Originally Posted by Tomm
(Post 3393551)
lol you initially falsely claimed that CA isn’t losing companies and I provided evidence 3 pages back.
You then claimed that deregulation doesn’t work and I posted a scholarly study 2 pages back on the pros and cons. Either you aren’t listening or you just didn’t bother to read.
Fun read on dereg: https://www.whitehouse.gov/wp-conten...rim-Report.pdf
What I previously posted: https://corporatefinanceinstitute.co.../deregulation/
Another good one: https://www.forbes.com/sites/william...h=44fe9fa91c18
Then you claimed monopolies were something they aren’t and showed you another scholarly article and even quoted what it takes for regulators to call a merger a monopoly.
Then you claimed the reasons of why companies were leaving were assumptions and I showed you yet another article citing the exact reasons companies were leaving.
Then you listed perceived flaws in companies that all allude to the characteristics of monopolies. While monopolies are mostly bad they are absolutely needed in some industries, like utilities in general - where these companies have such a high start up cost that competition is inefficient but the demands are human necessities. What is the alternative?? The point is calling something a problem because of how you are perceiving it doesn’t make it evil and greedy. Being evil and greedy is what makes a company evil and greedy. There are pros and cons to many of the things you have argued. Which is what I have showed you but again you seem to not be listening.
https://www.investopedia.com/ask/ans...always-bad.asp
One thing you fail to mention ab your toaster example is how these companies are helping poor people. For the same reason people go to McDonalds over Five Guys. Poverty exists and not all people can afford the $90 toaster.
https://www.google.com/amp/s/blog.ac...tions.html/amp
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That’s funny man. You provide a WH link as proof of deregulation. Did you even read that stuff? Let me give you an example: someone can claim deregulation has saved people money on healthcare costs, as a possible example, but if those deregulations eased mandates on what is required in policies and removed the individual mandate then prices drop for the average healthcare plan because people aren’t getting as much stuff in their plan and people no longer are forced into a mandate or insurance, so the average person isn’t paying more, but less people are insured. Read the fine print. People aren’t better off. Price of healthcare isn’t cheaper. Why not get some independent analysis?
That Forbes article can be picked apart. Start with their survey of greatest obstacles for small businesses. Is it surprising that a chef/owner of a small restaurant with a high school education is finding government laws and regulations, taxes or anything taking money from his business as being the most difficult? Then it goes into the doom and gloom of regulations while not mentioning why those regulations were ever enacted in the first place. Then it makes an assumption that businesses would have used this money on equipment, facilities, employee compensations. What we have learned is the only trickle down is to CEOs in bonuses. Without regulations companies pollute. Without oversight, companies overreach. Then it talks about all the jobs these regulations require a business to make. And why is that bad? Sounds like the regulations created an industry to me. Other digs at the ACA really doesn’t do much to swayed my opinion because more people had access to healthcare, and I’m for medicare for all and getting healthcare out of the hands of employers, so employees are more free to leave a job and employers aren’t dealing with the costs and bureaucracy. I guess I’m for deregulation as well then.
Monopoly and oligarchies are often the same. At the national level a business can be an oligarchy, but in a local market, they can exist as a monopoly. Of course, it doesn’t take much to suggest a company is not a monopoly. Like maybe Comcast and Dish are the only two internet providers in an area. No monopoly, except many apartments don’t allow dishes to be installed and many areas have obstructed line of sight so a dish isn’t possible, so people there only have one internet provider option. Prices can reflect that, but there is no official monopoly.
You sighted an article that knows why companies are leaving. Did they have access to their internal memos? Is Tesla moving fully out of California, permanently closing its Fremont factory and moving to Texas, or are they just moving their headquarters? Is it taxes? Is it COVID orders? Would a new factory be better built than the retrofitted Fremont factory? Was this planned for years? Do we believe everything Elon Musk is touting as reasons, or is it possible there is more to it?
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“The California companies are not moving operations to Texas, but instead are mainly moving their headquarters,” he said. “This seems to be mainly for taxes, or maybe for cheaper talent. But Silicon Valley has a reputation for talent.”
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https://www.crn.com/news/cloud/oracl...ng-hq-to-texas
That is one take on Walmart. I have heard Walmart repeat this “fact” in their TV ads, that regardless of where you shop, Walmart saves the average American $2k+/year. Great for the poor that they are helping to create. What they don’t tell you is how they did that. Walmart has forced bidding wars to get the lowest prices from manufacturers. Because of their huge customer base, they have huge influence to force manufacturers to lower their profit margins. Walmart has “forced” or encouraged manufacturers to move their operations to China or outside the US to keep prices down. Good for their customers. Bad for US jobs. Thanks Walmart. Walmart has consumed small businesses, so there is a double whammy on US jobs and small business owners, redistributing the wealth from many to the few:
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In 2006, months before a Walmart store was opened in the Austin neighborhood of Chicago's West side, researchers counted 306 businesses in the surrounding area. Two years after the Walmart opened, 82 of those businesses had closed.
And depending on the type of business, the impact of a Walmart moving in can be much worse. Persky says that the per-mile closure rate increase for drugstores is almost 20 percent. For home furnishings, it's about 15 percent. For hardware stores, it's about 18 percent per mile. For toys, it's more than 25 percent per mile.
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https://www.google.com/amp/s/www.blo...all-businesses
While Walmart and the Waltons are billionaires, their employees are often on government programs like food stamps and medicaid. Seems a little ridiculous that Walmart is too poor to pay its employees a living wage, and they rely on government programs and US tax payers to subsidize their wealth.
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Walmart and McDonald's are among the top employers of beneficiaries of federal aid programs like Medicaid and food stamps, according to a study by the nonpartisan Government Accountability Office.
About 70% of the 21 million federal aid beneficiaries worked full time, the report found.
"The average starting wage at U.S. corporate-owned restaurants is over $10 per hour and exceeds the federal minimum wage. McDonald's believes elected leaders have a responsibility to set, debate and change mandated minimum wages and does not lobby against or participate in any activities opposing raising the minimum," the company said in a statement.
McDonald's announced last March that it would no longer lobby against minimum wage hikes.
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https://www.google.com/amp/s/www.cnb...ficiaries.html