The Minimum Wage Eats Restaurants

[IAMX 3,055]

4 minutes ago, Teddy B said:

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

1. There's no financial reason to pay people more for nothing. Adding a higher minimum wage doesn't give the worker any more value to a business. 

2. Giving everyone more money doesn't make them wealthier or have less financial issues.

Edited May 16, 2017 by IAMX

[Teddy B 17,251]

1 minute ago, IAMX said:

1. There's no financial reason to pay people more for nothing.

2. Giving everyone more money doesn't make them wealthier or have less financial issues.

1. You're right, there is no reason to pay those greedy CEO's and business owners more for doing nothing. The people that actually do most of the work deserve it more.

2. Common sense is a tough concept, you should try it sometime.

[Teddy B 17,251]

4 minutes ago, IAMX said:

1. There's no financial reason to pay people more for nothing. Adding a higher minimum wage doesn't give the worker any more value to a business. 

2. Giving everyone more money doesn't make them wealthier or have less financial issues.

And you failed to address the original question I posted.

 

Quote

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

 

[Póg mo 1,749]

16 minutes ago, Teddy B said:

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

A higher rate of tax, would hopefully discorage huge CEO compensation rates, because if done right, a company board wanting tripling a CEO's rate of pay should have little effect on the CEO's net take home, and this would hopefully discorage CEOs who are hoping to leverage company profits for short term gain.  

[CaliCat 3,957]

3 hours ago, 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, they do not. The C-level executives only get punished if there are irregularities with the books, and that's something recent that came with SOX-302. In most corporations, the CEO may lose his or her job for bad investments or if the company goes under. If you're in a partnership or sole ownership the owner may be personally liable and lost everything, but most companies, even the small ones, are re-incorporating as LLCs these days.

 

http://www.epi.org/publication/ceo-pay-has-grown-90-times-faster-than-typical-worker-pay-since-1978/

 

Over the last several decades, inflation-adjusted CEO compensation increased from $1.5 million in 1978 to $16.3 million in 2014, or 997 percent, a rise almost double stock market growth. Over the same time period, a typical worker’s wages grew very little: the annual compensation, adjusted for inflation, of the average private-sector production and nonsupervisory worker (comprising 82 percent of total payroll employment) rose from $48,000 in 1978 to just $53,200 in 2014, an increase of only 10.9 percent. Due to this unequal growth, average top CEOs now make over 300 times what typical workers earn.

[JimandChristy 1,689]

2 minutes ago, CaliCat said:

Over the last several decades, inflation-adjusted CEO compensation increased from $1.5 million in 1978 to $16.3 million in 2014, or 997 percent, a rise almost double stock market growth. Over the same time period, a typical worker’s wages grew very little: the annual compensation, adjusted for inflation, of the average private-sector production and nonsupervisory worker (comprising 82 percent of total payroll employment) rose from $48,000 in 1978 to just $53,200 in 2014, an increase of only 10.9 percent. Due to this unequal growth, average top CEOs now make over 300 times what typical workers earn.

Trickle up Economics., Majority of the workers in this country have been screwed royally by top 1% for decades.

Edited May 16, 2017 by JimandChristy

[Teddy B 17,251]

7 minutes ago, Póg mo said:

A higher rate of tax, would hopefully discorage huge CEO compensation rates, because if done right, a company board wanting tripling a CEO's rate of pay should have little effect on the CEO's net take home, and this would hopefully discorage CEOs who are hoping to leverage company profits for short term gain.  

This in no way addresses my question of how higher salaries inflicts pain on the people that need the money the most.

 

You're making the process much more difficult than it needs to be. Just cap the salaries of the top earners and give the rest to the other employees, rather than"hoping" the money goes to those employees with higher taxes, everything else takes care of itself, including paying the tax man.

 

 

Edited May 16, 2017 by Teddy B

[IAMX 3,055]

4 minutes ago, Teddy B said:

1. You're right, there is no reason to pay those greedy CEO's and business owners more for doing nothing. The people that actually do most of the work deserve it more.

2. Common sense is a tough concept, you should try it sometime.

CEO's have proven value to a business. Those who make so little it's less than minimum wage are clearly expendable and don't bring any skills or value justifying the demand of more money. Hence why companies prefer hiring robots in the face of higher government mandated wages. And those who can't afford those just hire less people. Gonna try and mandate they keep those people hired too? 

 

Business sense is a tough concept, you should try it sometime. 

[Dashinka 23,242]

23 minutes ago, Teddy B said:

1. You're right, there is no reason to pay those greedy CEO's and business owners more for doing nothing. The people that actually do most of the work deserve it more.

2. Common sense is a tough concept, you should try it sometime.

Spoken like a true socialist.  Yes, let government control business and the economy, they never screw anything up!

Edited May 16, 2017 by Bill & Katya

[IAMX 3,055]

Just now, Bill & Katya said:

Spoken like a true socialist.  Yes, let government control business and the economy they never screw anything up!

It's always funny watching the left come up with these hilarious scenarios of how they're gonna divvy up the income of people far more valuable than themselves. Dat social justice economics. 

[Teddy B 17,251]

6 minutes ago, IAMX said:

CEO's have proven value to a business. Those who make so little it's less than minimum wage are clearly expendable and don't bring any skills or value justifying the demand of more money. Hence why companies prefer hiring robots in the face of higher government mandated wages. And those who can't afford those just hire less people. Gonna try and mandate they keep those people hired too? 

 

Business sense is a tough concept, you should try it sometime. 

The majority of CEO's and business owners are far over paid compared to the rest of their workforce. Most of them are thieves living off the sweat of the workers in their company that do the real work. CEO's pay has increased over 935% in the past 35 years, while the average workers salary has barely increased at all. It's a heavily lopsided system that needs to be regulated.

 

1 minute ago, Bill & Katya said:

Spoken like a true socialist.  Yes, let government control business and the economy they never screw anything up!

Perhaps you could address the plan I suggested and give your input rather than tossing labels around and blaming the "gov't boogeyman"? Then again................

[Teddy B 17,251]

4 minutes ago, IAMX said:

It's always funny watching the left come up with these hilarious scenarios of how they're gonna divvy up the income of people far more valuable than themselves. Dat social justice economics. 

It's even more funny watching you so called business experts throw around buzz words like "socialist" and "social justice economics" and act like you know what you're talking about all the while sitting in your cubicle wondering how you're gonna pay the rent this month.

Edited May 16, 2017 by Teddy B

[CaliCat 3,957]

18 minutes ago, JimandChristy said:

Trickle up Economics., Majority of the workers in this country have been screwed royally by top 1% for decades.

 

 

The interesting thing is that the pie is big enough for everyone. It's not like the C-level execs are trying to make ends meet or anything. There is enough to go around, for bonuses, platinum parachutes, and severance payments in the millions, but hey, $15/hour for a waiter, that's taking it too far.

 

What I can't understand it that most people fighting tooth and nail for the C-level execs are the very people that are making these meager wages. It's the economic version of Stockholm syndrome. 

[IAMX 3,055]

Just now, Teddy B said:

The majority of CEO's and business owners are far over paid compared to the rest of their workforce. Most of them are thieves living off the sweat of the workers in their company that do the real work. CEO's pay has increased over 935% in the past 35 years, while the average workers salary has barely increased at all. It's a heavily lopsided system that needs to be regulated.

If businesses thought they were overpaid they'd pay them less. I trust them to figure out what's more valuable to themselves than leftists trying to figure out for them. 

 

Also just to note you're talking about the highest paid CEOs in your example, and of incorporated businesses, ignoring the vast majority of businesses are small businesses under sole proprietorship or partnership. Those businesses often have owners who barely get by. And those people stand a very likely chance of going under by implementing leftist policies aimed in tunnel vision style at corporations. This epitomizes why they are who they are and why leftists are leftists and always whining about others being successful while pitching crappy ideas and being useful to virtually no one. 

[bcking 3,157]

17 minutes ago, IAMX said:

CEO's have proven value to a business. Those who make so little it's less than minimum wage are clearly expendable and don't bring any skills or value justifying the demand of more money. Hence why companies prefer hiring robots in the face of higher government mandated wages. And those who can't afford those just hire less people. Gonna try and mandate they keep those people hired too? 

 

Business sense is a tough concept, you should try it sometime. 

While there are some individual CEO's out there (presently or in the past) that could actually objectively list their personal achievements at their company that makes their pay/bonuses worth it, they are a minority. I'd guess if you asked most CEO's to objectively list what they personally did to help their company, most would struggle. They would quote "growth" during their "tenure" as CEO...but how much of that growth is really down to the person sitting in a single chair? 

 

The number of "upper management" people who get massive bonuses during years where companies as a whole are suffering is just staggering. At my wife's old company they hired a new CEO that got the highest "sign on" bonus in the history of the industry, because it was argued that he had a 'proven record' of taking companies who were suffering and "turning them around" (He had done it once before with a National oil and gas company). He then proceeded to sell the company within the first year of his tenure, and make even more money off that sale. He was not worth his pay, or his "sign on" bonus.