- Mar 8, 2003
- 38,416
- 4
- 0
What if Minimum wage increased at the same rate as executive pay?
- Thread starter Schadenfroh
- Start date
eh? I don't see how the two are related. Minimum wage is the starting point. If you are really good you get promotions and raises fast.
If you are a executive and you do real well in making money for your company, even if it means laying off workers to cut costs, then you should be rewarded with raises.
If you are a executive and you do real well in making money for your company, even if it means laying off workers to cut costs, then you should be rewarded with raises.
When one considers the OBSCENE amounts of $ these executives get in "bonuses", stock options, etc, the argument for no minimum wage increase sounds a BIT thin.
How about that? A 279% raise. Not bad. :disgust:
But goddamnit there will be NO minimum wage increase because the economy will go into a tail spin! The sky will fall! Other bad stuff will happen!
279%. :disgust:
How about that? A 279% raise. Not bad. :disgust:
But goddamnit there will be NO minimum wage increase because the economy will go into a tail spin! The sky will fall! Other bad stuff will happen!
279%. :disgust:
That's positively draconian.
CubicZirconia
Diamond Member
- Nov 24, 2001
- 5,193
- 0
- 71
It's called a free market economy. You get paid what your worth. If an executive is worth x number of times more than low level worker, he/she should get paid that much more. It's not the government's job to distribute wealth evenly, at least not a democratic government's job.
- Mar 8, 2003
- 38,416
- 4
- 0
Did i say that the government should distribute and decide salaries? I was making a comparison of the rate of increase of executive pay versus average worker pay. I make minimum wage, but i do not support increasing it right now. arsbanned, understood what i was getting at and pointed out the irony. Democratic government is exactly what it is, a government, not an economic style. Socialism can exist under a democratic government, as well as capitalism.
The REAL problem is NO ACCOUNTABILITY. Executives control executive pay. Even if they screw up badly and literally destroy the company, they get golden parachutes (Enron, Worldcom).
Ex: Congress voted for the 7th straight time to increase next year's wages. FOR THE WORST PERFORMANCE IN HISTORY. We have record debt ($7.4 trillion) on a record budget deficit. Job well done.
If shareholders got direct control over executive compensation, it would be much fairer (which they should because shareholder are the owners of the company!). None of this "i scratch your back you scratch mine" compensation evaluation scheme at the corporate level.
There should be simply rules such as lower performance = no pay raise/bonuses.
No bonuses for laying off thousands of workers.
Another example: Former Etrade exec pays himself $80 million in a year where Etrade lost $200 million. There is no way to argue that in that year he did the work of 1000 high-end workers of $80,000 pay or an army of 2,000 low end workers at $40,000
Ex: Congress voted for the 7th straight time to increase next year's wages. FOR THE WORST PERFORMANCE IN HISTORY. We have record debt ($7.4 trillion) on a record budget deficit. Job well done.
If shareholders got direct control over executive compensation, it would be much fairer (which they should because shareholder are the owners of the company!). None of this "i scratch your back you scratch mine" compensation evaluation scheme at the corporate level.
There should be simply rules such as lower performance = no pay raise/bonuses.
No bonuses for laying off thousands of workers.
Another example: Former Etrade exec pays himself $80 million in a year where Etrade lost $200 million. There is no way to argue that in that year he did the work of 1000 high-end workers of $80,000 pay or an army of 2,000 low end workers at $40,000
The economy wouldn't support it. As a matter of survival, it would have to be the other way around: executive pay would have to be limited to the growth rate of minimum wage. Which would cause to executives to look for work in the public sector, which would solve everything.
I think minimum wage should be increased.
But I understand how increasing minimum wage would hurt local businesses. Small shops such as Mom & Pop stores would be greatly affected as they would then be hurt from both rising material costs and rising employee costs. They might be forced to lay off employees. I think big businesses would not be affected as much, such as McDonalds. Some big businesses already pay more than minimum wage at their lowest pay, Costco.
So maybe we should increase minimum wage, but offer bigger tax deductions for small businesses/restaurants?
But I understand how increasing minimum wage would hurt local businesses. Small shops such as Mom & Pop stores would be greatly affected as they would then be hurt from both rising material costs and rising employee costs. They might be forced to lay off employees. I think big businesses would not be affected as much, such as McDonalds. Some big businesses already pay more than minimum wage at their lowest pay, Costco.
So maybe we should increase minimum wage, but offer bigger tax deductions for small businesses/restaurants?
CubicZirconia
Diamond Member
- Nov 24, 2001
- 5,193
- 0
- 71
Well fair enough- I made some leaps there. I just get sick of all the people on these boards that seem to think the gov't should be in control of every dime paid out in the economy.
CADsortaGUY
Lifer
You are mixing gov't regulation and free-market salaries for Executives. Now if you want to make the argument that they should pay their employees more -that's fine but to introduce a gov't control argument into this is silly and it can't be compared.
This forum never ceases to amaze me in their anti-corporate rhetoric.
CsG
Well, agreed, I'm talking about 2 different issues. I was really pointing out the absurdity of businesses crying foul about the possiblity of a minimum wage increasewhile at the same time giving themselves huge bonuses.
Let the market decide.
If you can't get workers that can do the job for minimum or then you have to raise it.
At my workplace we eliminated 6 jobs over 30k in an effort to raise the entry level wage from 8.00 to 9.38. We also implemented a tuition reimbursement plan and increased the companie's share of healthcare insurance. Finally, we also paid for (100%) dental for all employees.
We couldn't attract the caliber of peeps that we wanted so we increased the wage and the benefits as well. If we had a good crop of folks we wouldn't have moved it. Those moves cost the agency 400k but the quality of folx we are getting now is very much higher.
The market will determine the entry wage if we allow it to work. Forcing the market brings consequences that you don't want, like jobs being eliminated.
If you can't get workers that can do the job for minimum or then you have to raise it.
At my workplace we eliminated 6 jobs over 30k in an effort to raise the entry level wage from 8.00 to 9.38. We also implemented a tuition reimbursement plan and increased the companie's share of healthcare insurance. Finally, we also paid for (100%) dental for all employees.
We couldn't attract the caliber of peeps that we wanted so we increased the wage and the benefits as well. If we had a good crop of folks we wouldn't have moved it. Those moves cost the agency 400k but the quality of folx we are getting now is very much higher.
The market will determine the entry wage if we allow it to work. Forcing the market brings consequences that you don't want, like jobs being eliminated.
I think you need to put things into perspective. Taco Bell's parent corp has 265,000 employees. So if the CEO gets a $10,000,000 bonus, that would be equivalent to the cost of giving all employees an ~$0.02/hr raise. Pretending that these bonuses are the reason burger flippers are not getting $10/hr is :disgust:
That was going to be my point exactly (thanks for beating me to it). You do not want to invest $138 million for a 25¢/hr raise, to employees who turn over on average every few months. That's a huge impact to your income. And if you're talking a $1/hr raise, that would be a $552 million/yr increase in cost of labor. Why would you do it? Think you would indirectly increase profits due to better labor force? Highly unlikely. Do you do it to be a nice guy? :roll:
Sure it sucks to work minimum wage, but that's why I went to college. It took me 7 years to finish, as I had to struggle to pay for it myself. Now, my wife and I have $100,000 in student loan debts. But ANYTHING is worth not having to work jobs like that. If I did it, anyone can. So my response is, "You should have thought about that when you decided your path for the future."
<----- "uncompassionate conservative" who thinks people should be accountable for their lifestyles. No one is a victim.
They aren't 'worth' it, they extort it. They use money to deliver political clout to enforce it's continuation. I have yet to meet an executive worth a fart for the most part. I'd sooner pay any teacher, any doctor, any medicine researcher, any police officer, any fireman...I'd rather pay any of them then every executive on the planet.
And the CEO didn't do a damn thing that any other human on the planet couldn't have done. People should get paid based on their benefit to society. CEO's, and most executives, are leeches. I consider entertainers and sports figures much the same way. Their earnings are imbecilic compared to their contribution, while the people that actually have to learn and perform the job, and put up with all the crap that comes with it, continue to get next to nothing. Man was NOT meant to live this way.
BTW, don't bother to reply, I don't give a crap anymore. I'm tired of dealing with self-serving, narrow-minded, egocentric bastards. All of you have fun raping all life around you for your own gain. I'll have pity on you as you rot in hell.
Ahhhhh "Uncompassionate".
Congrats Prince Of Wands for getting the TRUTH out of one of the resident "Uncompassionate" Neocons on here.
are you mad? Is there something wrong with him getting himself educated and held only himself accountable for his well being? Does it bother you that theres one less poster in here to shed a tear for your plight that you need to remind us all about 20 times a day?
TRENDING THREADS
-
Discussion Zen 5 Speculation (EPYC Turin and Strix Point/Granite Ridge - Ryzen 9000)- Started by DisEnchantment
- Replies: 25K
-
Discussion Intel Meteor, Arrow, Lunar & Panther Lakes + WCL Discussion Threads
- Started by Tigerick
- Replies: 23K
-
Discussion Intel current and future Lakes & Rapids thread- Started by TheF34RChannel
- Replies: 23K
-
-
Facebook
Twitter