CT Private Business should be required to share income with their employees

Submitted by laxmolnar t3_yiagdj in Connecticut

We live in one of the states with the highest wealth disparities in the nation.

We had “record breaking tax income….. in tandem w printing trillions” and we’ve used this to act like things are good!!

Its masquerading reality as a local McDonalds franchise can pull $3-7mil in profits….. as their workers are on food stamps living in apartments, the fire marshal simply checks off each year, without actually visiting.

If you can employ someone, they deserve to know how much you make on their labor so that they might negotiate.

Not a privacy thing, more of being a practical, decent human who isn’t a scumbag.

Odds are we’ll just elect the same 70-90 year old politicians who’ll like idk make their hair purple to adhere to the voters instead of like actually making an impact

*Edit down here

You all are so brash.

I do not infer a profit share at all, but rather sharing the information. Very clearly.

Maybe? learn to read all the context? before reacting? to a headline?

Everyone seems so one minded, to their own desires. They actually ignore the text and just comment on their assumption, of what the context would be? We are so screwed if this is what discourse has become

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Izaac5150 t1_iui6p94 wrote

I don’t want to type such a long response as it’s needed for such a hilarious take especially because there’s so many negatives to your theory but I will say this shit sounds dumb af and clearly you’ve never ran a business or owned one.

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laxmolnar OP t1_iuikddl wrote

you have a lotta privilege if you think transparency is unfair

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Izaac5150 t1_iuk7eno wrote

Transparency is one thing your talking about treating an employee as a some sort of partner.

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laxmolnar OP t1_iuka6f2 wrote

Or you’re retarded and didn’t realize the context of my tile is information and not money???? Damnmmmmmmmnnnn lol you fuckin retard

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Izaac5150 t1_iukafxd wrote

Everyone is calling you a dumbass yet I’m the retarded one 🤣🤣 ahhh someone’s pussy hurts huh lol peace out loser

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laxmolnar OP t1_iukauc8 wrote

Everyone? You mean the person who has 5 reddit accounts?

Do you desire to fit in with the herd or to think for yourself? You look like cattle to me

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Izaac5150 t1_iukay6v wrote

Clearly you didn’t see the thread they started about you haha sucks to suck

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laxmolnar OP t1_iukbjr2 wrote

Dude,

I couldn’t care, unlike 99% of people. I do not quote another’s opinion as my own, I quote myself. Im very cool w my opinions and happy to defend them as they are mine, not anothers

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RudeNarwhal8 t1_iui9btb wrote

So if the business runs at a loss those losses can be shared with the employees as well?

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laxmolnar OP t1_iuik5by wrote

Did I say that? Or did you say that?

−6

RudeNarwhal8 t1_iujon30 wrote

Whether you stated or not it was your implication

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laxmolnar OP t1_iukaalp wrote

No. No. No it wasn’t?

Is this how you justify statements? By forcing them? Bro just be civil and admit you are wrong

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RunnyDischarge t1_iuhreaf wrote

https://work.chron.com/average-income-fast-food-franchise-owners-24587.html

Franchisers and many franchisees alike are cagey about declaring their net incomes. But a 2013 report from Franchise Business Review dug down into the numbers and came up with a net profit of $66,000 per franchise. McDonald's did much better with an average of around $150,000 per restaurant. But when you consider that a McDonald's franchise costs more than $1 million and can easily run more than $2 million, even McDonald's doesn't generate excellent average returns on investment. The fast-food franchise business is tough, and success doesn't come easy.

https://www.mashed.com/178309/how-much-mcdonalds-franchise-owners-really-make-per-year/

Some McDonald's franchise owners are naturally going to make more than others, but most franchise owners still pull in an estimated yearly profit of roughly $150,000 (via Fox Business). A profit of $150,000 after $2.7 million in sales isn't even 6 percent, but after food cost, supplies, crew payroll, and about a dozen other costs handed down by corporate, that's what franchisees are left with

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laxmolnar OP t1_iuhwse8 wrote

So using articles, that reference other articles, that don't actually reference where they got their numbers from, is pretty dumb.

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Go read your own articles and stop throwing up BS on my post as you clearly have no knowledge of accounting. "profits" are what accounts look to legally hide and its actually super easy to do.

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TywinShitsGold t1_iui46gu wrote

Another person who doesn’t think expenses and costs are real but wants to mandate how business work.

Sigh.

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laxmolnar OP t1_iuikixj wrote

Did I say that?

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No, I didn't.

​

Modern businesses w large enough revenue don't need profits though, that is true.

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ThePermafrost t1_iuhy5tf wrote

If you don’t like working a minimum wage job, then start a business.

But starting a business is risky. It’s time consuming. It requires a lot of knowledge. It requires taking an income loss before any gains.

For many people, being an employee is highly preferred, but you take a hit on your income potential for the convenience it offers.

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laxmolnar OP t1_iuhyngv wrote

Probably also recommend asking daddy for starting capital?

You're a fool.

"If you don't like making $9/hour, just finance a business!!!, its so easy. Stupid poor people" - ThePermafrost (a bonified boomer)

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RunnyDischarge t1_iui1jgn wrote

>"Seems like when someone provides a clear, counterpoint - you get angry and call them names lol? I remember kids doing that
>
>Is that normal behavior?"
>
>Y'all are a fucking moron and a troll.

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ThePermafrost t1_iuhzpmg wrote

I started a candle business when I was 16 in High School for $250. I was making upwards of $30,000/yr after a few years. Worked a full time job at 18 for $9.60/hr. Took all that money, and bought a house for $48,750. Renovated it. Rented it. Used the equity to buy another house. Repeated. Repeated. Now I’m 25 and retired.

If a 16 year old in High School can turn a candle business into an early retirement by 25, then it’s certainly possible for just about anyone to accomplish.

Also, minimum wage is $14/hr now.

Thank you for coming to my Ted Talk.

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laxmolnar OP t1_iui0afg wrote

You bought an entire house for $48,750? You are clearly way older than 25 lol like wtf are you saying.

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Claiming early retirement at 25 - if you still manage the properties you are not retired lol like go back to school. I wager you have variable mortgage rates? lmaoooooo

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ThePermafrost t1_iui1bvq wrote

Yes I did in 2017. Here's the Zillow link. I bought it 1/6/2017 for $49,000 and a $250 Smoke Detector Credit. I just sold it for $212,700 this year. I also bought this one for $54,900 11/27/2019 and just sold it for $275,000.

I live in a $2.5 Million Dollar mansion now, with no mortgage and have a Tesla. I oversee my investments, but I wouldn't call that working.

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laxmolnar OP t1_iuikuhx wrote

I bet you also have expensive crystal glasses to smell your farts from when telling these bold lies.

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ThePermafrost t1_iuin30m wrote

If you would like a tour of the house, a ride in the Tesla, and to hear more about how I got to this point feel free to shoot me a PM and we can chat for an afternoon.

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laxmolnar OP t1_iuippu5 wrote

Ngl, the tesla does sound rad, if its real. Perhaps. If ya are legit, we’d probably be pals w how fiery you are.

Ill send ya a dm

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SporkyForks2 t1_iuj321x wrote

If people are making $9.00 an hour as an adult they need to rethink their life decisions instead of expecting the big bad rich person to fix it.

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laxmolnar OP t1_iujinyn wrote

What if they were raised in poverty?

What if they had one parent who struggled themselves? Never got to be the role model other kids would expect?

Bad shoes so they limp as an adult? Makes them look weird w their gait.

Bad teeth so other scoff at them? They couldnt afford a dentist as a kid, but they shoulda!! Haha f them, right?

What if they grew up w lead paint, influencing their decision making? Making it hard in some intense moments?

What if they constantly saw violence and at a young age thought it was cool? Joined in and got a record tattoo’d on them for life?

You judge people you don’t know with true malice, perhaps they are rethinking them. You don’t know and will never understand their lives, but you could be kind enough to never use your life, as the benchmark average, for the lives of others. Its unfair to them.

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SporkyForks2 t1_iujuhlk wrote

Life isn't fair and actions have consequences. People can either adapt and overcome or struggle to simply exist. Not everyone who struggles early in life continues to play the victim the rest of their life. It's just easier to do so.

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laxmolnar OP t1_iukanhb wrote

You are fucking dumb.

“The slave can’t escape slavery, so he must be happy being a slave”

Analyze that and realize that you. Are. Fucking. Dumb.

You dummy

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Smith-WessonPat t1_iui08aw wrote

Take it easy there, Karl Marx.

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laxmolnar OP t1_iui18im wrote

I feel like I'm getting a bunch of boomers who say things they don't understand. At all.

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Karl Marx was a communist.

​

Me, Myself? I am not.

​

Advocating for transparency in income, when there's a large wealth gap, w looming inflation, around 40%, for the lower class, is pretty reasonable.

​

Dumb humans often label people in gross ways when they disagree with their point but can't actually create a sound counter argument. So we address them akin to people we see as bad, in hopes that people will simply not listen to them.

​

I sum up your desires well enough?

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CTrandomdude t1_iuk5qok wrote

To answer your question. The answer is NO. It is not any employees business as to what any private owner profits. Why? Because that profit or loss does not determine an employees pay. Very simply the open market determines the pay scale for most workers.

Having difficulty getting or keeping qualified candidates for a position leads to higher pay. Having an abundance of qualified applicants pushed down wages. It’s simple and the open market takes care of this.

The business owners are taking 100% of the risk. They may profit millions one year and loose millions the next.

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laxmolnar OP t1_iukb6tl wrote

Godamn,

This dude has like 50 reddit accounts - blow me bitch

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PhilipLiptonSchrute t1_iujfa92 wrote

If the business loses money, can the owner take the negatives from the hourly rate of their employees, or is this a one-way street in your scenario?

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laxmolnar OP t1_iujh6pb wrote

You. Are. An. Idiot.

Read the context of the post you schmuck.

Like fuck, SHARE INFORMATION NOT MONEY you brash moron

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AskWhyMoreOften t1_iuhpi7e wrote

What local McDonalds do you know of that is pulling $7mil in profits?

And even with the info on how much each individual McDonalds franchisee is making, what is that someone, going to do with that info? The sad reality is you’re not going to really negotiate to be paid higher when they have no problem replacing you.

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AhbabaOooMaoMao t1_iuiklc9 wrote

OP was saying it should be required.

I think if an employee of any company is relying on state income-based benefits, that amount of the benefits should be added on to the company's tax liability at the end of the year.

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AskWhyMoreOften t1_iuio6gy wrote

So what does that do for the employee? How does that help the employee to bargain a raise with said company? This persons post isn’t making a lot of sense and seeing their other comments in this post, it’s becoming more and more clear of that.

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laxmolnar OP t1_iuirzuk wrote

If my post doesn’t make sense. I recommend going back to school as others found it easy to understand.

Transparency allows someone to say “i want a raise” and when many employees say “this is unfair”

We get unions!!!!! Now, how was my thought pointless? Or do you just struggle w thinking?

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RunnyDischarge t1_iujb5yx wrote

You can say "I want a raise" without transparency. Transparency isn't going to give an employee, especially an unskilled one, any leverage.

We have unions without transparency.

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laxmolnar OP t1_iuirqrl wrote

Yo thats an awesome idea!!!

Like brilliant, they pass the puck to the government, government passes it back.

Almost like “we finance this now” and “you pay us back at tax season”

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IndicationOver t1_iuhqvnq wrote

>What local McDonalds do you know of that is pulling $7mil in profits?

I don't know which one exactly but that is not far fetched.

I'm sure there is a location in the state that pulls in that much, maybe one the truck stops who knows. McDs pulls in 3m-9m on the high end for the range

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RunnyDischarge t1_iuhrpwo wrote

Sales <> profits

https://www.franchise.city/mcdonalds-franchises

How much did a McDonald’s Restaurant make in 2020? Of the approximately 11,821 domestic traditional franchised McDonald’s restaurants that opened for at least one year as of December 31, 2020, approximately 77% had annual sales volumes in excess of $2,300,000; approximately 69% had annual sales volumes in excess of $2,500,000; and approximately 60% had annual sales volumes in excess of $2,700,000.

The average annual sales volume was $3,003,000 during 2020. So the average franchisee’s make with a McDonald’s is 3 million (gross numbers all your expenses come out of that).

The highest-grossing McDonald’s location, the location that generated the highest sales did $9,238,000. Their top location did not break 10 million in 2020. Their lowest revenue location generated only $272,000! McDonald’s also closed over 60 locations in 2020 and have closed triple digits of restaurants since 2017.

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laxmolnar OP t1_iuhxslp wrote

Bro,

Do you enjoy cherry picking statistics when most franchises were in complete lockdown?

Like shut the fuck up. You comment twice to share useless information and you are the exact kind of person that makes discourse unbearable.

No matter what I say, you'll only look for information to defend your desired reality when its built on your own stupidity.

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RunnyDischarge t1_iuhyfoo wrote

Go fuck yourself, asshole.

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laxmolnar OP t1_iuhznsn wrote

Seems like when someone provides a clear, counterpoint - you get angry and call them names lol? I remember kids doing that

Is that normal behavior?

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laxmolnar OP t1_iuhxblf wrote

Exactly!

They have their fixed costs and if the volume consistently supersedes it, then they make soooo much money. Especially when you have a skilled accountant - hell if a bun falls on the ground, you can write it off at full sale value.

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RunnyDischarge t1_iui2csu wrote

>you can write it off at full sale value.

LOL fucking moron doesn't even know what 'write off' means. Jesus h christ.

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laxmolnar OP t1_iui2py2 wrote

Please calm down with all the posts, you seem way to agitated over comments on the internet.

Writing off "spoiled/damaged goods" on your taxes?

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laxmolnar OP t1_iuhx4j2 wrote

McDonald's I worked at when I was 16 made 3.3 mil year on a fairly busy route --> scaled up it would be around 7 mil, easily.

&#x200B;

Y'all cherry pick my clear "estimation" as if you don't understand that an estimate is not a statement of accuracy, but one to create a frame of reference. People who comment on shit they know nothing about are the worst.

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AskWhyMoreOften t1_iui0jhu wrote

That might be GROSS. Not profit.

I’m not cherry picking anything, I’m going off your numbers that you have zero data on. If you really think McDonalds franchisee owners make $7mil PROFIT, wouldn’t everyone be lining up to own a McDonalds store? It only costs a $45,000 fee plus you need $500,000 in liquid assets, but according to this website you need to expect to spend $1mil to $2.5mil to start out with. But if you’re going to make millions in profit every year, what’s a $1mil-$2mil to start out with, matter anyways! Right?

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RunnyDischarge t1_iui1qjj wrote

Don't bother with this moron, they don't even understand the difference between sales and profit.

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laxmolnar OP t1_iui26dj wrote

No. I said profit and I meant profit.

&#x200B;

A high-volume restaurant can and will pull in a ton + a good accountant annnnd big profits.

&#x200B;

You do however, seem to not understand what an "estimation" is - it's not facilitating accuracy, its literally just a frame of reference for the conversation at hand.

&#x200B;

Also - y'all quote too much shit that isn't accurate or simply cherrypicked to create the fallacy of accuracy. You need $$$ relative to where corporate McDonald's has mapped out what they think is a good spot for a new franchise. Profits are based on the local area as well and your accounting methods.

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RunnyDischarge t1_iuhyk7d wrote

You are a dolt. Just a moron. Y'all stupid as fuck.

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laxmolnar OP t1_iuhzh4z wrote

Explain how I'm a dolt, moron, and saf.

Try not quoting another as well lol

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Frequent_Jelly_4138 t1_iui4jyd wrote

Yes let’s pay cashiers a bonus for doing a job a monkey could do. Devaluing skilled labor and devaluing those who are educated will do great things for the nation

Edit: negotiate?? What negotiating power does a cashier have? Ask for a higher salary and get fired. There’s no shortage of unskilled labor.

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laxmolnar OP t1_iuilqpc wrote

Define "skilled labor" please. Manning a "PoS" or "Point of Sale System" has about as many variables, if not more than most corporate jobs. Further, you deal w large demographics of people and cashiers would have been fully automated if it was easy/unskilled, forever ago.

On the inverse, most corporate jobs are automated! To the point where 99/100 people push a button, they don't understand. They got a degree w a 2.4 communications GPA though so they must be skilled, right?

If the business with all these "unskilled" workers somehow turns an excellent profit then I don't consider them unskilled. I consider them rather efficient which is the essence of skill.

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AskWhyMoreOften t1_iuioz0y wrote

>Further, you deal w large demographics of people and cashiers would have been fully automated if it was easy/unskilled, forever ago.

Have you been to a fast food place recently? Have you see those touch screen devices that takes your order, takes your form of currency and prints a receipt? You realize that’s replacing these PoS operators at a growing rate, right?

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laxmolnar OP t1_iuireq7 wrote

Name one chain that has fully automated unskilled workers?

Weren’t we supposed to like replace taxi drivers w tesla’s forever ago?

Maybe our arbitrary definition of unskilled was made by some pompous ass who looked down upon those without the highest echelon of education?

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RunnyDischarge t1_iujam82 wrote

Oh please never stop. This is the best thing I've read on reddit in a long time.

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Frequent_Jelly_4138 t1_iuj0xi1 wrote

I know you didn’t just argue that working at a McDonald’s requires more skills than being an analyst or a business owner

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RunnyDischarge t1_iuj9m8e wrote

They really are that dumb. LOL this whole post is fucking gold.

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laxmolnar OP t1_iujhgnw wrote

I’ve done both my guy, but are you upset I have an opinion different than yours? Welcome to america lol

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kayakyakr t1_iui3kc1 wrote

I think people are reacting to a misunderstanding of your post title. "share income with their employees" can easily be interpreted as you wanting all businesses to be required to implement some form of profit sharing.

What you really want, and I agree that this could be of benefit, is a sunshine law for private businesses that requires they publish their cashflow year-over-year. I don't think that's that controversial of a proposal, and allows employees to negotiate from a position of strength.

It would require more paperwork on the part of businesses, which could be especially onerous to small businesses (say, under 5-10 employees) or even, if it's not carefully worded, to sole proprietorships who would have to effectively publish quarterly reports. But that can be worked around and what is required to be reported and published can be adjusted on a sliding scale of gross income/employee count.

I'd say work on how you're presenting this and then get in touch with your local legislator and you might be able to get something done. Or not. Politics is a grind.

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RunnyDischarge t1_iui7nnv wrote

&gt;What you really want, and I agree that this could be of benefit, is a sunshine law for private businesses that requires they publish their cashflow year-over-year.

No, they want money from the company.

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laxmolnar OP t1_iuimx1n wrote

Dude, you've made like so many comments.

&#x200B;

Read my post, I never once demand a profit share. I do think one might come as a result, but all I want is transparency.

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If someone feels agitated that their employees see how much they've been profiteering off their labor. Odds are, they're taking advantage of them.

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RunnyDischarge t1_iuja0qh wrote

I'll explain it to you - 'Businesses should be required to share their income with employees" can be read in more than one way.

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kayakyakr t1_iui9psc wrote

OP states that workers deserve to know how much businesses make. Yes, they want more money, but they are not asking for mandatory profit share as most here suggest.

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laxmolnar OP t1_iuind3u wrote

Not sure why you're getting downvoted, but yes yes!

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I just want people to know if their labor is making XYZ and they get to do with that as they wish, but the transparency would be a good norm for our capitalistic society.

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laxmolnar OP t1_iuim6ve wrote

I appreciate you actually reading before brandishing a pitch-fork haha.

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Yes, the entirety of what I said was for transparency. I have reiterated this many times in the comments, but it seems one person is upset. Seems like they're logging into 3 different accounts so they can support their misconception.

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