Minimum Wage Solution

There are definitely some novel ideas that would give the working class more spending money while keeping the greedy fat cats happy.

One idea is legislation to ensure that the lowest-paid employees' salary is no less than a certain percentage of the CEO's salary or a determined hourly wage (whichever is more). The determined hourly wage would give a liveable salary to a worker who works for a small company, whereas the percentaged salary would ensure that the fat cats who run the Disneys and the McDonald's of the nation can't continue to make billions on the backs and lives of the desperate.

 

Completely irrational idea. This not only tramples the civil rights of company owners but is built on many false premises.
1. The idea that for someone to get wealthy- another gets poorer. - false.
Also that there is a specific finite amount of wealth. - there isn’t.
2. That every person deserves a specific dollar amount. Not based on individual value, but by collective arbitrary decision.
3. Everyone deserves a liveable salary. They don’t.

 

Dumb idea, but nice try there's Way too many workarounds.

the obvious issue is the fact that it's a dumb idea.

carry on.

 

Work this out and report back:
The ratio of McDonald's CEO pay to the revenue the CEO is responsible for.

The ratio of line worker pay to the revenue the line worker is responsible for. Pick a reasonable number of Big Mac Meals / hr * Price * 1800 hr / year

 

Those who would dictate the salaries of company CEO/employees and the products that companies produce should start up a company and put their cockeyed ideas into practice.

 

Well said. People with businesses are selling their products and serviced to the public, at a price the public voluntarily agrees to- price fixing is illegal, because it kills competition and efficiency. IF a product isn't deemed worth the price asked, it doesn't sell. If it is, then it does sell. When employees, who are in the business of selling their services to a customer at a price they both voluntarily agree to, be any different? Why should their product be sold with no guarantee of quality or consistent performance, when the products of business are?

Products and services of business are valued only by the people who buy them- and that is free enterprise, which has built the nation. Placing an arbitrary value determined by government on somebody because they are present and breathing is a concept borrowed from socialism. That is a concept which can destroy a nation.

Good people are in demand. They don't need a legally mandated wage, because they are worth more- and business is looking for that kind of person all time. All you have to do is bring the right attitudes to the job, and perform. That is a concept which insures they will rise in both income and position.

 

Those who would set wages of employees based on anything but the value the employees produce should never start a business. If they do and start off paying their employees more than the value the employees add to the business, they should start off by hiring a bankruptcy lawyer. They will need one.

 

It's so easy to tell others what to do.

 

Then:
"From each according to his ability, to each according to his needs"

Now:
”From each according to Laffer, to each according to the price of their vote.”

I think people are getting dumber.

 

Not withstanding the total irrationality as Captain Obvious points out, for the sake of discussion, which all wise omnipotent person determines what the values of the required wages are?

 

Maybe attempt to sound unbiased when suggesting an ideal for others to consider..

Pretty sure terms like “fat cats” is going to give your class envy ideology away...

 

One gets paid according to the value of one's skill set. The easier that skill set is to acquire and the more commonly it is available in a given society the less it will be valued within that society. Conversely the rarer a given skill set is and the more difficult it is to acquire the more it will be valued.
In other words you want to make more money get a better skill set.

 

A prime example of a CEO who needs his sails trimmed would be Bob Iger of Disney where they just raised the price of a one day pass to Disneyland and California Adventure to $209 per day. Obviously Iger and his fellow Disney executives must feel we are all earning the $65.6 million compensation he received in 2018!!. People should completely boycott all things Disney until they bring their prices down to a much more reasonable level.The idea of a family of 5 having to dish out over $1,000 for one day of standing in long lines at a Disney park is disgusting.

 

The neo-communist goal is a maximum wage

then...

One wage for all

 

Everyone does deserve a living wage. That was the whole of even having a minimum wage to begin with.

 

Any and all business should pay a living wage . If the product being provided by workers is needed by society it should be worth a living wage. If it cannot pay a living wage you close it down. Now if society demands this product a new business that will pay the living wage will fill that vacuum with the price being high enough to pay that living wage.


This would greatly reduce safety net spending and taxpayers would not have to subsidize wages that isnt enough to live on.

Time to change the way we see wages. And stop screwing working people without the courtesy of vaseline !

And it is the moral thing to do. This idea that capitalism is amoral is BS voiced by greedy and selfish minds

As we allowed capitalism to be above morality the people got screwed.

 

Everything humanity does is abritrary.

 

If you remove all the garbage workers from your town for a month, you will see their value.

 

What if the CEO/ owner of the small company doesn't draw a paycheck.
I have worked for businesses where i literally made more than. The company owner.

 

The CEO is always making money (they got bills to pay if nothing else) even if it's not a direct wage. And if the workers are making more than the owner (assuming the owner is just a capitalist and not doing any work), that's just ethical business.

 

Change the corporate governance structure, the campaign finance system, and embrace competition in the market place. Vigorously enforce the structure and wealth distribution will flatten and wages will recover.

Restructure the system and there is no need for band-aids.

Given the last four decades you’d get the impression from the action our “elites” that don’t have much faith in capitalism.

 

The onevwho invests the most in a business should get the most benefit from the business. Without his investment the employees would have nothing.

Both are vital but capital is more valuable than labor. The most ethical way to run a business it to make it as profitable as possible even if that means low wages.

 

The capitalist greases the wheels but nothing ever happens without the workers (sole proprietorships aside). The capitalist never sees an RoI if the workers don't work and is ultimately a slave to labor producing goods/services for them to sell. An ethical business shares the fruit of labor in proportion to production, anything less is exploitive theft. A capitalist that labors is of course entitled to just compensation same as anyone else and socialism is simply making the capitalist and labor class 1 and the same.

The only time an owner should make more than an employee is if the owner is working harder (productively) then the employee. A capitalist that does nothing else is entitled to their money back and nothing else. Any profit they may make absent labor is limited to what the workers freely agree to give them.

 

I completely disagree.. no not only that, you're just wrong. Socialism destroys incentives for investment then everyone is equally poor.

The one who invests the capital shoukd reap the most benefit... regardless if hecworks or not.

Socialism is wrong, immoral and unethical.

 

I work for an employee owned grocery business, our CEO started out as a part time bag boy and aside from a crash course in business admn when he got chosen to take over never had more than a HS diploma and we aren't even thinking of an IPO. We're a Fortune 500/Global 400 company with so much money that we still have billions of dollars left over after aggressive expansion, legal fees, marketing and wasteful spending (we own a golf course for the hell of it for example). Provided competent management, worker owned businesses (aka socialism) is more profitable becuase it gives the workers a reason to give a ****. If you want to argue politics, fine but as an economic argument socialism is superior to capitalism in developed economies.