February 2014 LSAT Study Group

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zhenders
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Re: February 2014 LSAT Study Group

Postby zhenders » Tue Jan 28, 2014 10:59 pm

withoutapaddle wrote:Minimum wage is irrelevant

If you raise minimum wage you raise the cost of everything else. Companies pass on the increase costs of production to consumers. So if minimum wage was $1, the cost of a bag of chips would be significantly less than it is now. It's basic labor economics 101


Nope. Simply not justified by economic data; sorry mate. Costs ARE passed on, but not in the 1-for-1 way you are describing. This is because companies still have to compete with one another. By that logic, the cost of everything would have suddenly increased when we went from 5.50 to 7.15. That didn't happen.

I'll give you a case-in-point.

In 2012, Wal-Mart posted NET profits of $365 billion. If Wal-Mart spent just $2 billion of its 2012 net profits on raises for all of its lowest-paid employees -- roughly .3% of their total net profits for that year -- Wal-Mart could have raised its company-wide minimum wage to around $10.50/hour.

In the big scheme of things, that would have almost zero net impact on Wal-Mart's profits, and because Wal-Mart is successful because it operates at a lower profit margin than any other supermarket, it would leave its prices exactly where they are.


The economics of the situation has to factor in profits and competition. The corporate atmosphere in which American capitalist business operates is a model which seeks to maximize profits above all else. That isn't to say that profits would not still be high with a raise in wages. The problem is, there is no incentive to raise wages without legislation for the lowest-paid workers.

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xylocarp
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Re: February 2014 LSAT Study Group

Postby xylocarp » Tue Jan 28, 2014 10:59 pm

Miracle wrote:
xylocarp wrote:
zhenders wrote:Male. There are male feminists in the world -- we're just depressingly difficult to find.

I think more male feminists would exist (and more feminists in general) if the definition of feminism were more widely understood and less stigmatized. I mean, how many people actually just DON'T support equal rights for everybody...?


Go back to drilling!! (just looking out for you) :P

Thanks :mrgreen:

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BankruptMe
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Re: February 2014 LSAT Study Group

Postby BankruptMe » Tue Jan 28, 2014 11:00 pm

http://www.breitbart.com/Big-Government ... LSAT-Score

Obama was 3.5/166-171

But he excelled when in law school. Graduated in the top 14% percent

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zhenders
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Re: February 2014 LSAT Study Group

Postby zhenders » Tue Jan 28, 2014 11:03 pm

xylocarp wrote:
Miracle wrote:
xylocarp wrote:
zhenders wrote:Male. There are male feminists in the world -- we're just depressingly difficult to find.

I think more male feminists would exist (and more feminists in general) if the definition of feminism were more widely understood and less stigmatized. I mean, how many people actually just DON'T support equal rights for everybody...?


Go back to drilling!! (just looking out for you) :P

Thanks :mrgreen:



Agreed, Xylo. True of women, too; it's a horrid shame. The word feminism is incredibly stigmatized and misunderstood.

On the other hand, Miracle, while I think perhaps most guys would claim to want equality between the sexes, actions and locker-room-esque conversations suggest otherwise :(

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zhenders
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Re: February 2014 LSAT Study Group

Postby zhenders » Tue Jan 28, 2014 11:03 pm

BankruptMe wrote:http://www.breitbart.com/Big-Government/2012/09/21/Found-Obama-s-LSAT-Score

Obama was 3.5/166-171

But he excelled when in law school. Graduated in the top 14% percent


*and headed up the Harvard Law Review as the first AA ever to do so (like a boss)

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BankruptMe
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Re: February 2014 LSAT Study Group

Postby BankruptMe » Tue Jan 28, 2014 11:12 pm

Can't find Hilary, Bill or Michelle's scores.

Michelle Failed/wasnt ready for the bar and took a year to pass. Hilary failed the DC bar.

BUT I WANT DEM LSAT SCORES lol

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zhenders
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Re: February 2014 LSAT Study Group

Postby zhenders » Tue Jan 28, 2014 11:16 pm

President Clinton and Hillary were Yale, so I'm guessing strong :) and They were both super active politically even then -- it's almost not surprising Hillary wasn't fully prepared!

A story I love: one semester, POTUS C quit going to classes at Yale for 3 months to go work in politics for a while. 2 weeks before exams, he emailed his classmates and asked for "notes for everything", took his exams, and did just fine.

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withoutapaddle
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Re: February 2014 LSAT Study Group

Postby withoutapaddle » Tue Jan 28, 2014 11:17 pm

I think if you're going to raise the minimum wage you have to give the businesses something in return

Reducing corporate taxes creates more jobs as businesses are likely to invest more

Case in point:

my dads dental ceramics company just had to pay 31K because of the new medical device tax. That's a salary he could have paid someone to do a low level job or invested in expanding his operation (creates jobs). Instead that money went to pay for a national health care system that the majority of Americans don't even want

Like I said look what social programs did to Rome

http://voices.yahoo.com/how-us-compares ... 14477.html
http://www.ibtimes.com/us-debt-crisis-a ... ome-822215
Last edited by withoutapaddle on Tue Jan 28, 2014 11:22 pm, edited 2 times in total.

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90convoy
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Re: February 2014 LSAT Study Group

Postby 90convoy » Tue Jan 28, 2014 11:18 pm

The DC bar had a 46% passing rate in 1995.

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BankruptMe
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Re: February 2014 LSAT Study Group

Postby BankruptMe » Tue Jan 28, 2014 11:23 pm

withoutapaddle wrote:I think if you're going to raise the minimum wage you have to give the businesses something in return

Reducing corporate taxes creates more jobs as businesses are likely to invest more

Case in point:

my dads dental ceramics company just had to pay 31K because of the new medical device tax. That's a salary he could have paid someone to do a low level job or invested in expanding his operation. Instead that money went to pay for a national health care system that the majority of Americans don't even want

Like I said look what social programs did to Rome

http://www.ibtimes.com/us-debt-crisis-a ... ome-822215


Without outing myself, as an economics major and with some grad work in the subject, you are right to a certain degree. But there is a big if. IF they actually decide to hire a new person. Businesses exist for the benefit of the shareholders, so if that tax cut would have occurred, there is no guarantee your dad would have hired a new worker.

So if your dad operates as a typical business man, your dad would have distributed it to the owners/investors of the company. Why take on another employee if you made profit through a tax cut, something that did not cost another head.

Companies are getting by with less, and keeping profits. And there is nothing wrong with that, that is the mission of the corporation. So while you are correct, you cannot predict what executives will do, though to a certain degree we all have an idea...

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withoutapaddle
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Re: February 2014 LSAT Study Group

Postby withoutapaddle » Tue Jan 28, 2014 11:28 pm

Bankruptme did you watch Inside Job in any of your classes? I'm also an economics major

The documentary changed my perspective on both government and big banks

Miracle
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Re: February 2014 LSAT Study Group

Postby Miracle » Tue Jan 28, 2014 11:29 pm

Agreed, Xylo. True of women, too; it's a horrid shame. The word feminism is incredibly stigmatized and misunderstood.

On the other hand, Miracle, while I think perhaps most guys would claim to want equality between the sexes, actions and locker-room-esque conversations suggest otherwise :([/quote]

Im sure. I come from a very sexist background so I've seen it all.

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zhenders
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Re: February 2014 LSAT Study Group

Postby zhenders » Tue Jan 28, 2014 11:29 pm

withoutapaddle wrote:I think if you're going to raise the minimum wage you have to give the businesses something in return

Reducing corporate taxes creates more jobs as businesses are likely to invest more

Case in point:

my dads dental ceramics company just had to pay 31K because of the new medical device tax. That's a salary he could have paid someone to do a low level job or invested in expanding his operation (creates jobs). Instead that money went to pay for a national health care system that the majority of Americans don't even want

Like I said look what social programs did to Rome

http://voices.yahoo.com/how-us-compares ... 14477.html
http://www.ibtimes.com/us-debt-crisis-a ... ome-822215


I'll take a look at those links soon :)

I'd love to talk about this more if you'd like; shall we continue through PM's? These kinds of convos can get heated, and I think it might be more appropriate to debate this there?

Regardless, I'm sorry to hear that your father's business was impacted. I am personally very grateful -- preexisting conditions that don't actually exist any longer has kept me -- a 25 year old who is in very good shape -- from being eligible to buy healthcare before Obamacare. I'll be returning to the US with health insurance for the first time.

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BankruptMe
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Re: February 2014 LSAT Study Group

Postby BankruptMe » Tue Jan 28, 2014 11:29 pm

withoutapaddle wrote:Bankruptme did you watch Inside Job in any of your classes? I'm also an economics major

The documentary changed my perspective on both government and big banks


Oh yea, seen it 3 times. I own it.

One of the best, most clearly spoken docs on the crash made.

Miracle
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Re: February 2014 LSAT Study Group

Postby Miracle » Tue Jan 28, 2014 11:30 pm

BankruptMe wrote:Can't find Hilary, Bill or Michelle's scores.

Michelle Failed/wasnt ready for the bar and took a year to pass. Hilary failed the DC bar.

BUT I WANT DEM LSAT SCORES lol


Lol you are on a mission.

I would love to know those as well.

I did not know that about them

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BankruptMe
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Re: February 2014 LSAT Study Group

Postby BankruptMe » Tue Jan 28, 2014 11:33 pm

Miracle wrote:
BankruptMe wrote:Can't find Hilary, Bill or Michelle's scores.

Michelle Failed/wasnt ready for the bar and took a year to pass. Hilary failed the DC bar.

BUT I WANT DEM LSAT SCORES lol


Lol you are on a mission.

I would love to know those as well.

I did not know that about them


Couldn't find them. I even looked up john kerry. He went from Yale UG to BC. He said he wanted to work as a DA. His SAT was like 1190

Michelle said she benefited from AA for HLS

Couldnt find anything for Bill or Michelle in terms of LSAT. In Bill Clinton's bio, he said he never really wanted to practice law. He just went because he got in and it would look good for politics.

Miracle
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Re: February 2014 LSAT Study Group

Postby Miracle » Tue Jan 28, 2014 11:35 pm

BankruptMe wrote:
withoutapaddle wrote:I think if you're going to raise the minimum wage you have to give the businesses something in return

Reducing corporate taxes creates more jobs as businesses are likely to invest more

Case in point:

my dads dental ceramics company just had to pay 31K because of the new medical device tax. That's a salary he could have paid someone to do a low level job or invested in expanding his operation. Instead that money went to pay for a national health care system that the majority of Americans don't even want

Like I said look what social programs did to Rome

http://www.ibtimes.com/us-debt-crisis-a ... ome-822215


Without outing myself, as an economics major and with some grad work in the subject, you are right to a certain degree. But there is a big if. IF they actually decide to hire a new person. Businesses exist for the benefit of the shareholders, so if that tax cut would have occurred, there is no guarantee your dad would have hired a new worker.

So if your dad operates as a typical business man, your dad would have distributed it to the owners/investors of the company. Why take on another employee if you made profit through a tax cut, something that did not cost another head.

Companies are getting by with less, and keeping profits. And there is nothing wrong with that, that is the mission of the corporation. So while you are correct, you cannot predict what executives will do, though to a certain degree we all have an idea...


+1 thats the point i wanted to make.

Not to mention- look what is going on now... When we bailed out companies with that stimulus package we anticipated they will pick up hiring (as a result).... once they get back on their feet, of course. As we know, that did not happen. Instead, the profits increased, and hiring lagged.

Miracle
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Re: February 2014 LSAT Study Group

Postby Miracle » Tue Jan 28, 2014 11:38 pm

BankruptMe wrote:
Miracle wrote:
BankruptMe wrote:Can't find Hilary, Bill or Michelle's scores.

Michelle Failed/wasnt ready for the bar and took a year to pass. Hilary failed the DC bar.

BUT I WANT DEM LSAT SCORES lol


Lol you are on a mission.

I would love to know those as well.

I did not know that about them


Couldn't find them. I even looked up john kerry. He went from Yale UG to BC. He said he wanted to work as a DA. His SAT was like 1190

Michelle said she benefited from AA for HLS

Couldnt find anything for Bill or Michelle in terms of LSAT. In Bill Clinton's bio, he said he never really wanted to practice law. He just went because he got in and it would look good for politics.


What was kerry's LSAT

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BankruptMe
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Re: February 2014 LSAT Study Group

Postby BankruptMe » Tue Jan 28, 2014 11:38 pm

Miracle wrote:
BankruptMe wrote:
withoutapaddle wrote:I think if you're going to raise the minimum wage you have to give the businesses something in return

Reducing corporate taxes creates more jobs as businesses are likely to invest more

Case in point:

my dads dental ceramics company just had to pay 31K because of the new medical device tax. That's a salary he could have paid someone to do a low level job or invested in expanding his operation. Instead that money went to pay for a national health care system that the majority of Americans don't even want

Like I said look what social programs did to Rome

http://www.ibtimes.com/us-debt-crisis-a ... ome-822215


Without outing myself, as an economics major and with some grad work in the subject, you are right to a certain degree. But there is a big if. IF they actually decide to hire a new person. Businesses exist for the benefit of the shareholders, so if that tax cut would have occurred, there is no guarantee your dad would have hired a new worker.

So if your dad operates as a typical business man, your dad would have distributed it to the owners/investors of the company. Why take on another employee if you made profit through a tax cut, something that did not cost another head.

Companies are getting by with less, and keeping profits. And there is nothing wrong with that, that is the mission of the corporation. So while you are correct, you cannot predict what executives will do, though to a certain degree we all have an idea...


+1 thats the point i wanted to make.

Not to mention- look what is going on now... When we bailed out companies with that stimulus package we anticipated they will pick up hiring (as a result).... once they get back on their feet, of course. As we know, that did not happen. Instead, the profits increased, and hiring lagged.


Employment is only stimulated if there is an increase in demand for the good/service produced. Think about it. Why hire someone if you dont actually need them to be more profitable? As an employer, you are taking on costs, without added benefit. That is fiscally unsound.

This is why unemployment is high at the moment

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withoutapaddle
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Re: February 2014 LSAT Study Group

Postby withoutapaddle » Tue Jan 28, 2014 11:39 pm

I think companies have unrealistic expectations for jobs now

The bachelor degree is basically a check mark that's it

Miracle
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Re: February 2014 LSAT Study Group

Postby Miracle » Tue Jan 28, 2014 11:39 pm

zhenders wrote:
withoutapaddle wrote:I think if you're going to raise the minimum wage you have to give the businesses something in return

Reducing corporate taxes creates more jobs as businesses are likely to invest more

Case in point:

my dads dental ceramics company just had to pay 31K because of the new medical device tax. That's a salary he could have paid someone to do a low level job or invested in expanding his operation (creates jobs). Instead that money went to pay for a national health care system that the majority of Americans don't even want

Like I said look what social programs did to Rome

http://voices.yahoo.com/how-us-compares ... 14477.html
http://www.ibtimes.com/us-debt-crisis-a ... ome-822215


I'll take a look at those links soon :)

I'd love to talk about this more if you'd like; shall we continue through PM's? These kinds of convos can get heated, and I think it might be more appropriate to debate this there?

Regardless, I'm sorry to hear that your father's business was impacted. I am personally very grateful -- preexisting conditions that don't actually exist any longer has kept me -- a 25 year old who is in very good shape -- from being eligible to buy healthcare before Obamacare. I'll be returning to the US with health insurance for the first time.


No. We want to be part of the discussion.

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xylocarp
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Re: February 2014 LSAT Study Group

Postby xylocarp » Tue Jan 28, 2014 11:41 pm

Lovin' the extensive off-topic conversation going on right now (not sarcastic)
I expect big things from you guys in our waiters thread.

Miracle
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Re: February 2014 LSAT Study Group

Postby Miracle » Tue Jan 28, 2014 11:42 pm

BankruptMe wrote:
Miracle wrote:
BankruptMe wrote:
withoutapaddle wrote:I think if you're going to raise the minimum wage you have to give the businesses something in return

Reducing corporate taxes creates more jobs as businesses are likely to invest more

Case in point:

my dads dental ceramics company just had to pay 31K because of the new medical device tax. That's a salary he could have paid someone to do a low level job or invested in expanding his operation. Instead that money went to pay for a national health care system that the majority of Americans don't even want

Like I said look what social programs did to Rome

http://www.ibtimes.com/us-debt-crisis-a ... ome-822215


Without outing myself, as an economics major and with some grad work in the subject, you are right to a certain degree. But there is a big if. IF they actually decide to hire a new person. Businesses exist for the benefit of the shareholders, so if that tax cut would have occurred, there is no guarantee your dad would have hired a new worker.

So if your dad operates as a typical business man, your dad would have distributed it to the owners/investors of the company. Why take on another employee if you made profit through a tax cut, something that did not cost another head.

Companies are getting by with less, and keeping profits. And there is nothing wrong with that, that is the mission of the corporation. So while you are correct, you cannot predict what executives will do, though to a certain degree we all have an idea...


+1 thats the point i wanted to make.

Not to mention- look what is going on now... When we bailed out companies with that stimulus package we anticipated they will pick up hiring (as a result).... once they get back on their feet, of course. As we know, that did not happen. Instead, the profits increased, and hiring lagged.


Employment is only stimulated if there is an increase in demand for the good/service produced. Think about it. Why hire someone if you dont actually need them to be more profitable? As an employer, you are taking on costs, without added benefit. That is fiscally unsound.

This is why unemployment is high at the moment


You can't say there isn't for sure. Many companies are working their employees harder so they don't have to hire anyone else. They are very abusing in that sense. Taking advantage of the current economic state.
Last edited by Miracle on Tue Jan 28, 2014 11:44 pm, edited 1 time in total.

Miracle
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Re: February 2014 LSAT Study Group

Postby Miracle » Tue Jan 28, 2014 11:43 pm

xylocarp wrote:Lovin' the extensive off-topic conversation going on right now (not sarcastic)
I expect big things from you guys in our waiters thread.


How is drilling coming along?

We are becoming a family here.

We should have big Skype party lol

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BankruptMe
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Re: February 2014 LSAT Study Group

Postby BankruptMe » Tue Jan 28, 2014 11:45 pm

Miracle wrote:
BankruptMe wrote:
Miracle wrote:
BankruptMe wrote:Can't find Hilary, Bill or Michelle's scores.

Michelle Failed/wasnt ready for the bar and took a year to pass. Hilary failed the DC bar.

BUT I WANT DEM LSAT SCORES lol


Lol you are on a mission.

I would love to know those as well.

I did not know that about them


Couldn't find them. I even looked up john kerry. He went from Yale UG to BC. He said he wanted to work as a DA. His SAT was like 1190

Michelle said she benefited from AA for HLS

Couldnt find anything for Bill or Michelle in terms of LSAT. In Bill Clinton's bio, he said he never really wanted to practice law. He just went because he got in and it would look good for politics.


What was kerry's LSAT


Couldnt find it. Looked it up in Kerrys Bio, said he wanted to be a trial lawyer and wanted to run for congress.

So he went to BC to set up residence in Mass.

So why not go to harvard? lol he was Skull and Bones at Yale. Oh well, I do not think it matters now. He got hired in Middlesex DA office at 32. He went into law school at 29




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