Yep, just let the people who can only find a minimum wage job starve. Serves them right for living in the U.S. where that's the only jobs available. Let them move to another country.
Okay, so your comment addresses which of the problems with it I mentioned?? By the way, you talk about people starving.. Do you think the cost of food won't go up faster if minimum wage were increased?
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"A society that puts equality ... ahead of freedom will end up with neither equality nor freedom."
Costco employees earn an average of $17/hour. The CEO earns ~$500,000/year. There is PLENTY of money available to pay workers a living wage for their efforts.
Costco has 160,292 employees. If they were making minimum wage, and you took the CEO's salary (paid him 0) and divided it up that would only amount to about $3/YEAR per employee.
Costco has 160,292 employees. If they were making minimum wage, and you took the CEO's salary (paid him 0) and divided it up that would only amount to about $3/YEAR per employee.
Sorry, I spoke poorly... I wasn't intending to criticize Costco or its CEO. Quite the contrary, I was intending to hold up Costco as a model of how things *could* be. Costco is a fairly traditional retailer. They've adopted the "warehouse club" model. But, unlike similar retailers, they pay a living wage to their workers. Their CEO takes home a "paltry" $500,000/year, compared to the tens of millions taken in by CEOs of similar-sized, competing companies.
I'm fairly certain that if the CEO of Costco (or any major retailer) walked off the job for a month, the company would still be around when he got back. I'm equally sure that if the cashiers of Costco (or any major retailer) walked off the job for an hour, the company would be out of business until they came back to work or were replaced.
The money to pay workers a living wage for performing essential labor is available, it's simply being paid to people performing work that, while important, is far less essential to the business.
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We work together every damn day. --Jon Stewart
Sounds like you don't want people to be able to fully reap the benefits of being an entrepreneur and job creator... Sounds like you have a winner there!
A CEO is not a job creator. CEOs are stuff-brokers. They arrange the meeting between people who have money and want stuff, and the people who want money and have stuff.
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We work together every damn day. --Jon Stewart
A CEO is not a job creator. CEOs are stuff-brokers. They arrange the meeting between people who have money and want stuff, and the people who want money and have stuff.
What you just listed were the ingredients needed to make jobs.
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"A society that puts equality ... ahead of freedom will end up with neither equality nor freedom."
What you just listed were the ingredients needed to make jobs.
Yes, I did. But the important part that you're glossing over is that businessmen don't create demand, nor do they create the supply. Strictly speaking, they aren't essential to the creation of a job.
There is a role for them to play, and it is an important role to be sure. But the role they play is secondary at best to the roles of the workers and the consumers.
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We work together every damn day. --Jon Stewart
Yes, I did. But the important part that you're glossing over is that businessmen don't create demand, nor do they create the supply. Strictly speaking, they aren't essential to the creation of a job.
There is a role for them to play, and it is an important role to be sure. But the role they play is secondary at best to the roles of the workers and the consumers.
Funny you mention supply and demand.... A "minimum wag" mandate is designed to counter supply and demand. Supply and demand will dictate a rate of pay likely much much lower than the so called minimum wage. Also I ask you, what do you think dictates a CEO's rate of pay?
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"A society that puts equality ... ahead of freedom will end up with neither equality nor freedom."
Funny you mention supply and demand.... A "minimum wag" mandate is designed to counter supply and demand. Supply and demand will dictate a rate of pay likely much much lower than the so called minimum wage. Also I ask you, what do you think dictates a CEO's rate of pay?
You are very well aware that I don't support the traditional minimum wage system. Regulating pay by pinning the bottom does little but drive inflation. I've discussed at length my own pet project.
As far as what dictates a CEO's pay rate, it depends entirely on the corporation in question. Former Costco CEO Jerry Sinegal followed manufacturing pioneer Henry Ford's model of insisting on payment sufficient for his employees to live and thrive.
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We work together every damn day. --Jon Stewart
Many companies don't understand logic. By keeping their employees compensation low, it influences other companies to do the same. Then most of these employees cannot afford to buy from any of these companies which negatively affects the bottom line.
For example, many of the Walmart employees in my area buy their toiletries from the dollar stores because they can't afford to buy the better brands from Walmart. So, how much of the money they save on wages, would be spent at their stores? I would love to see one of these companies do a study to see how much they actually save.
If any of you are business owners, are your employees able to buy from you?
Yes, I did. But the important part that you're glossing over is that businessmen don't create demand, nor do they create the supply. Strictly speaking, they aren't essential to the creation of a job.
There is a role for them to play, and it is an important role to be sure. But the role they play is secondary at best to the roles of the workers and the consumers.
So what about supply and demand for workers?
Oh, it seems that I read somewhere that many unions have a clause that a minimum wage increase will result in a raise for union workers... Hmmm..
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"A society that puts equality ... ahead of freedom will end up with neither equality nor freedom."
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