NEW YORK, Aug. 8, 2016 /PRNewswire-USNewswire/ -- Sean O'Loughlin, Esq. provides the following statement; I am one of eleven people in New York City who donated the maximum amount under law to Donald Trump during the primaries. My expertise is in the area of business and law. The science of business is about satisfying consumer's wants and needs with products and services at a profit. The science behind making a profit is based upon scarcity and supply and demand. If a business entity controls a scarce resource that is in demand, there is an opportunity to make a profit if the price of the product times the units sold is greater than the cost of providing the product or service. Products and services that are in high demand with limited supply command higher prices. Labor is a factor of production. The cost of labor is determined by supply and demand. More specifically, if the supply of labor is greater than the demand for labor, wages will decrease. However, if the demand for labor is greater than the supply for labor, wages will go up.
Donald Trump has been advocating two basic principles that will lead to more jobs at higher pay. The first basic principle is the reduction of business taxes. When businesses are less burdened with taxes, businesses are in a better position to grow. As businesses grow, businesses will need to hire more people. The second basic principle that Donald Trump has been advocating involves limiting the labor pool. Basic economics dictate that less people in the workforce who are capable of performing a job means higher wages. In addition, major items of the federal budget include social security and social health care programs. More specifically, the more people we have in the United States, the more money the government and the private sector will need to cover health care and retirement costs. The more money spent on health care and retirement costs, the less money there is available to pay wages. Hence, lower business taxes and a smaller labor pool will mean more jobs at better pay.