Now that I think of it, do any CEOs really make too much money assuming there was such a thing? What CEOs are even Billionaires except the ones who have ownership because they started the company? For example, who is the richest person to make their money simply from being hired as the CEO for one or more companies?
Living wage is already calculated and defined where I live and it’s more than the actual minimum. I won’t go into all the details and calculation.
So any place that has a minimum wage (whether or not the minimum wage assure a basic living) is totalitarian. Good to know.
Always end up with Soviet Russia or Venezuela 'round these parts.
Are you some kind of accountant too? Are they all so smug and do they all think they are so marketable with great skill sets and deserve so much more than the ones who didn’t do what they did?
I’ll give you twice the pay of a liberal art student.
For the record my college parcours makes me very marketable.
There is 168 hours in a week for everyone. Somehow I don’t see how anyone working most of these hours is worth 1000x more than someone doing the same. You don’t even read 5x faster than me that’s for sure.
That’s not being smug chief. That’s what I like to call real life. Something is worth what someone else is willing to pay for it. Always has been, always will be. Even places where your ideas have really taken hold, it remains true in the black markets that always spring up to (here’s the hint) supply the demand.
And no, I’m not an accountant. I’m the guy my evil corporation’s accountants call for help.
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Yes, you do have a choice. Also, many people overvalue their skill set.
I’m not sure what you are referencing here. The federal minimum wage is $7 something. The minimum wage was not created to support a family. An individual can support themselves on minimum wage, they just may not be able to have a standard of living that they want.
Where are you from? It’s not just tenses, your sentence structure doesn’t strike me as a native english speaker. Also, my initial post wasn’t a stab; it was a general question.
I did. I just chose to pay for college instead of a rent. I was able to graduate without any debt this way, which allowed me to purchase a house at 25.
Public workers are among the best paid. A private employee’s salary and benefits can vary drastically, where as a public employ has a smaller variance. Assuming 0 is nothing and 100 is top 1%. A private employee can be anywhere between 0 and 100. A public employee would be between 30-50, in compensation, and it’s like pulling teeth to let go of a government employee.
This is the reason innovation is stalled. If I know I’ll never make more than $1M a year, I would not try.
Regardless if they are distributors/producers, if wages increase, only the large companies will be able to survive without increasing their prices, and once the smaller companies tap out, the large ones will raise their prices again.
Soooooo a company should be forced to pay every employee some magical wage that pays for basic needs regardless of your location. If they can’t then their profits should be taken until they hit zero and at that point the business will eventually cease to exit. Thus eliminating said job.
Ya, can’t see the flaw in that logic… 
Do you think people would prefer $7.25/hour or $0/hour?
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This one sentence sums up the entire conversation. People that base their politics on feelings have a tough time accepting this simple truth.
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Are CEOs overpaid? Yes. Relative to the value they provide, they aren’t worth their outsized compensation relative to other workers’ value.
Do you fix it with taxes? I don’t think so. First step is half-educated boards realizing they are wasting precious resources overpaying rent-seeking CEOs when that money deserves to be plowed back into the other inputs, namely workers.
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Just remember- When you say that no one deserves to make $XXxx, you’re saying that you don’t either!
Had this same conversation with the cashier at a local convenience store. She read something to this effect on facebook and was fired up about executive pay. I asked her to think about that. If someone else can’t, neither can you.
So, @jasmincar , what if you come up with your own intellectual property and it is extremely successful, but to be produced economically it has to be made in a way that requires people to be paid less than you believe is fair?
You aren’t the employer, but if you want your product (and you) to succeed, someone is going to get the shit end of the stick. What are you going to do?
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Not at all what I was getting at. I actually believe there should be some kind of minimum wage FYI
So much good stuff in your post but this part REALLY is never understood it seems–economies of scale matter, and the vast majority of regulations that apply to both small and large companies crush smaller businesses much, MUCH faster.
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You need to pay a certain wage according to a location.
If they can’t have a margin they need to be more productive with their ressources (smarter).
You can’t take someone’s time without giving them a basic living in return. Too bad if some things have to do.
This is very true. Taxes WILL NOT solve anything, and will hurt small businesses much more
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It wouldn’t work. It’s not just what I believe is fair but something that provides a basic living.
No reason why I would deserve 1 million a year.
They won’t because they need to give the impression that they are having the very best people while someone paid 150 000$ a year would do a job just as good.
They already know it.
Well, I see we agree on something.
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Are you serious?!? No way in hell.
“Hey–you can make your current 150,000 doing your regional director/marketing head/account manager’s job, OR…you can make 150,000 controlling the company, being stressed every day makinf decisions that literally decide the future of the comoany, being in charge of 10,000s of people’s futures via employees an shareholders, and also be liable for anything that goes wrong at your company. What do you think, you in?”
No fucking way. Are you kidding me??
CEOs may be overpaid somewhat depending on company and industry, but there is NO GODDAMN WAY they could get someone just as good for 150K.
People have this vision of CEOs as guys who just sit around on their yachts and play golf 300 days out of the year. That could not be further from the truth.
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If I were to start a company, and that company succeeds. My max salary would be 1 million, under your ideals.
What if I took half of my yearly salary and created another, unrelated business? Do I not deserve another million?
Agreed! I can’t tell you how many hours my dad and I work a week. We started our company three and a half years ago. Now we have 5 employees, but we still work 70+ hours.
Edit: typing on my phone and half the post deleted itself. Yadi yadi yah about supporting people.
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