The Minimum Wage Eats Restaurants

[Teddy B 17,251]

4 minutes ago, ccneat said:

This part " What needs to be done in order to provide a living minimum wage and keep costs of goods and services down so people can still afford to purchase them "  which makes sense except for high rent areas

Why?

[jg121783 3,907]

1 minute ago, Teddy B said:

What part of a "percentage based cap" did you not understand? If the company grows, everyone makes more money. What's wrong with that? Why should the owners/ceo's make a disproportionatly high amount of money over the people who do the grunt work?

Because they take all the financial risk running the business. If the business fails they lose everything in many cases. The employees worst case lose their job and get unemployment benefits until they find another one. 

[Amica Nostra 4,803]

2 minutes ago, Teddy B said:

Why?

Well it still helps..but higher minimum wages are needed in these cities as well. The rent is local.

[Teddy B 17,251]

Just now, jg121783 said:

Because they take all the financial risk running the business. If the business fails they lose everything in many cases. The employees worst case lose their job and get unemployment benefits until they find another one. 

Hogwash! Employees risk to lose everything as well when a business fails. Most people can't afford to live their current lifestyle on unemployment benefits, the only people who can are those making $7 per hour and already receiving gov't assistance to live. And with a percentage based salary system ALL employees have a higher incentive to make sure the business succeeds. That's much better than dealing with a bunch of uninterested and unmotivated employees that you don't know if they'll show up for work from one day to the next.

[Amica Nostra 4,803]

Just now, jg121783 said:

Because they take all the financial risk running the business. If the business fails they lose everything in many cases. The employees worst case lose their job and get unemployment benefits until they find another one. 

No that is not correct,  the equity owners assume the risk of the business disappearing. Unless the CEO is the owner he is only out his performance bonuses. Bill Gates capped his salary at 260000 for years. 

[IAMX 3,055]

49 minutes ago, ccneat said:

No that is not correct,  the equity owners assume the risk of the business disappearing. Unless the CEO is the owner he is only out his performance bonuses. Bill Gates capped his salary at 260000 for years. 

Yes, if we ignore that the majority of businesses are not incorporated. #AltReality

 

The concern that poster and I share is not for corporations.. they have the most viable means of handling egregious minimum wage increases. Everyone else, as in the vast majority of businesses, do not have those means.

Edited May 16, 2017 by IAMX

[The Nature Boy 7,659]

3 hours ago, Teddy B said:

I think what a lot of people overlook when it comes to a living minimum wage is that the owners and CEO's of these minimum wage companies are making money hand over fist. What needs to be done in order to provide a living minimum wage and keep costs of goods and services down so people can still afford to purchase them is to cap the salaries of the owners and CEO's of these companies. The balance between management/CEO salaries and worker salaries is way off in the US and capitalism is to blame. I'm in favor of a mandatory percentage cap on mngmnt/CEO/owner salaries across the board with the remainder of the profits divided amongst the other employees.

Thank you Carl Marx

[Teddy B 17,251]

9 minutes ago, Nature Boy Flair said:

Thank you Carl Marx

I liked Harpo better.

[Amica Nostra 4,803]

21 minutes ago, Nature Boy Flair said:

Thank you Carl Marx

'Cept this plan could be done by the boards American corps on a voluntary basis.  They simply distribute the executive compensation broader. Tax policy could encourage it.  Didn't take a dime from Capitalists, retirees, widows or orphans, Created expanded wealth in middle and lower class, increased the motivation of workers and increase the perception of a brands goodness.

[Teddy B 17,251]

1 minute ago, ccneat said:

'Cept this plan could be done by the boards American corps on a voluntary basis.  They simply distribute the executive compensation broader. Tax policy could encourage it.  Didn't take a dime from Capitalists, retirees, widows or orphans, Created expanded wealth in middle and lower class, increased the motivation of workers and increase the perception of a brands goodness.

Why do you hate America?

[Póg mo 1,749]

3 hours ago, Teddy B said:

I think what a lot of people overlook when it comes to a living minimum wage is that the owners and CEO's of these minimum wage companies are making money hand over fist. What needs to be done in order to provide a living minimum wage and keep costs of goods and services down so people can still afford to purchase them is to cap the salaries of the owners and CEO's of these companies. The balance between management/CEO salaries and worker salaries is way off in the US and capitalism is to blame. I'm in favor of a mandatory percentage cap on mngmnt/CEO/owner salaries across the board with the remainder of the profits divided amongst the other employees.

No, I would support higher rates of tax on salaries over a certain amount. Make it so that paying the average worker more, makes more sense than just rewarding a few people at the top with everything.

[IAMX 3,055]

40 minutes ago, Nature Boy Flair said:

Thank you Carl Marx

This page... 

 

[Teddy B 17,251]

4 minutes ago, Póg mo said:

No, I would support higher rates of tax on salaries over a certain amount. Make it so that paying the average worker more, makes more sense than just rewarding a few people at the top with everything.

I'd much rather see that money go into the employees bank accounts than Uncle Sam's. There is no need to make it tax based, simply cap the incomes of the higher ups to a percentage of the profits and the rest gets divided up by the other employees, also on a percentage basis. The tax money will eventually make it's way to Uncle Sam that way too.

[Póg mo 1,749]

2 minutes ago, Teddy B said:

I'd much rather see that money go into the employees bank accounts than Uncle Sam's. There is no need to make it tax based, simply cap the incomes of the higher ups to a percentage of the profits and the rest gets divided up by the other employees, also on a percentage basis. The tax money will eventually make it's way to Uncle Sam that way too.

Uncle Sam has a lot of bills that need paying, and I would rather see the wealthy taxed than inflicting even more pain on those who can least afford it. 

[Teddy B 17,251]

2 minutes ago, Póg mo said:

Uncle Sam has a lot of bills that need paying, and I would rather see the wealthy taxed than inflicting even more pain on those who can least afford it. 

In what way does paying higher wages to the people that need it the most inflict any pain on those people?