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raising the minimum wage is good economics

CEO compensation these days is roughly $7,000 an hour (that is, assuming a 40-hour workweek). In fact, CEO-to-average worker pay has increased by a factor of 15 from the 1960s ratio of 20 to 1 to the present whopping 300 to 1. But in some companies it is astronomical. At Chipotle the ratio is 1,522 to 1. Yes, you read it right. That is not a typo. In some firms, the CEO makes nearly 2,000 times as much as the average worker. At Walmart the ratio is 1,133. Do these CEOs deserve their millions? Not by a long shot. Take the CEO of Coca Cola company. He still pockets $25 million. His rival, the CEO of Pepsico writes a check to himself for $22 million. Yet, I have not heard any of the Republican presidential hopefuls suggest that these millions are hurting our exports. A pittance to the coolies hurts the economy, but the millions to their bosses are quite all right.

https://www.pbs.org/newshour/economy/why-raising-the-minimum-wage-is-good-economics

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deadgerbil · 26-30, M

How dare you speak out against corporate greed

Aami1 · 26-30, F

@deadgerbil What's wrong with having a business?

BritishFailedAesthetic · M

@Aami1 Nothing. But companies should pay a decent living wage- increased productivity, etc.

They should also give staff more promotional opportunities and not just like a cog in the machine.

deadgerbil · 26-30, M

@Aami1 having a business does not necessitate the CEO etc lining their own pockets. If that confuses you, then you need to get a clue

Aami1 · 26-30, F

@BritishFailedAesthetic Why, who made you a God who is allowed to tell people what to do?

Aami1 · 26-30, F

@deadgerbil So, there's nothing wrong with having a business and making good money?

BritishFailedAesthetic · M

@Aami1 I am not God and never will be.

But staff should get a decent living wage.

Aami1 · 26-30, F

@BritishFailedAesthetic And who defines "decent"? And what if I've just started an enterprise and the minimum wage an hour is more than I'd be generating in a day?

BritishFailedAesthetic · M

@Aami1 Rent (which should be controlled) , inflation, etc determine the wage.

Aami1 · 26-30, F

@BritishFailedAesthetic Rent. So, charging for use of your private property. Should I be allowed to tell you what price you can charge for use of one of your possessions?

deadgerbil · 26-30, M

@Aami1 if everyday workers are struggling to get by while the CEO gets millions of dollars for doing nothing, there's absolutely something wrong with that.

If you don't see an issue with that, your moral compass is skewed and or you're incredibly dense

Aami1 · 26-30, F

@deadgerbil Why would the owner of a company give the CEO millions of his money for doing nothing, if the owner is greedy and wants millions for himself?

BritishFailedAesthetic · M

@Aami1 No, because it's my possession and not yours!

But you are not reliant on my savings account or my car, for example.

Property is essential for living.

Aami1 · 26-30, F

@BritishFailedAesthetic Water is also essential, so can I have your water and put a cap on what you charge for use of your water>

BritishFailedAesthetic · M

@Aami1 No but you are welcome to put my water company into public hands!

Aami1 · 26-30, F

@BritishFailedAesthetic And why would you say "no" to the government telling you what price you can sell your own water for?

BritishFailedAesthetic · M

@Aami1 No, I meant the company that sends my water bills 🤭

Aami1 · 26-30, F

@BritishFailedAesthetic So, the government should be able to tell your water company what price they sell you their water for?

BritishFailedAesthetic · M

@Aami1 Yes.

This is water and not a non essential fashion, holiday, etc company.

deadgerbil · 26-30, M

@Aami1 the CEO, shareholders, owner, etc of these huge companies are almost always incredibly selfish. Why do you think unions came into existence? You don't even know your history on worker's rights bc if you did you would actually have something intelligent to say instead of making excuses for these people to buy their umpteenth expensive house or yacht

Aami1 · 26-30, F

@BritishFailedAesthetic Okay, so they force your water company to sell their water at a cheaper price, and now they cant afford to pay their employees as much.

Aami1 · 26-30, F

@deadgerbil Again, if these owners are greedy, why would they pay their CEOs millions to do "nothing", instead of just keeping it for themselves.

BritishFailedAesthetic · M

@Aami1 They have the money.

Just like energy companies here raising prices "out of necessity" yet making record profits.

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