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Old 06-15-2018, 02:25 PM
 
2,360 posts, read 1,028,642 times
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Quote:
Originally Posted by KCZ View Post
Check your math.


The average compensation of a Fortune 500 CEO is $10.5M. (The Average Income of a CEO of a Fortune 500 Company | Chron.com)


I couldn't find a figure for the average compensation of a Fortune 500 COO, but I strongly doubt it's more than the CEO.


Average number of employees of a Fortune 500 company is 53,586 (range 55 - 2.2M) (https://vysda.com/post/here-is-a-lis...-2-200-000/330)


Giving each employee a $2/hr raise is $2 x 40 hrs/week x 50 wks/yr x 53,586 employees/company = $214,344,000 additional employee compensation per year for a Fortune 500 company. Cutting the CEO's and COO's pay in half wouldn't even come close to providing that employee raise, or even a $1/hr raise for the average Fortune 500 company.



Your argument ignores that fact that employee compensation is determined largely by market supply and demand and is not directly linked to the compensation of the CEO.
Not sure were you got your CEO math.

https://www.usatoday.com/story/money...ies/488630002/

These are billionaires that bring home these huge profit margins. Dont think they can go broke if they even give up 2 years worth of their own salary.

 
Old 06-15-2018, 02:26 PM
 
Location: Paranoid State
12,685 posts, read 9,432,561 times
Reputation: 14942
Quote:
Originally Posted by hitpausebutton2 View Post
Need.. better wage.
One of the fundamental lessons of Econ 101 (this is an econ forum, after all) is that there is no such thing as a need. There are unlimited wants and desires in a world of limited resources. Thus, no one "needs" a better wage. Most everyone "wants" a better wage.

Another fundamental lesson of Econ 101 is that total compensation is driven to by value-add, and hence employees who wish a better wage need to learn to add more value. The traditional path is via enhancing human capital, but there are many other paths.

The two most important lessons that minimum wage worker needs to learn are:

1) taxes are deducted from your paycheck
2) if you want a bigger paycheck, you need to add more value - that is, you need to earn it by making more money for your boss.

Just raising minimum wage is as useful as giving them a trophy.

Last edited by SportyandMisty; 06-15-2018 at 02:54 PM..
 
Old 06-15-2018, 02:28 PM
 
Location: Oregon Coast
4,031 posts, read 1,474,534 times
Reputation: 5418
Quote:
Originally Posted by LifeIsGood01 View Post
and then they complain about too many people living in one house.

In a country where it's basically illegal to be homeless. Try to set up camp somewhere and you will find out. I've never been homeless, but I wish something could be done, at the same time there are drug addicts who don't want to do anything but drugs.
Yep, someone said no one is forcing you to rent, but they are. The rich landlords pay off the city council, to make homelessness illegal. They make sleeping in your car illegal, they make sleeping on the street illegal, they hire an army of thug cops to go out and beat up the homeless. Until they can beat it into them, that they have to get three jobs and ten roommates, so they can pay the extortion rent prices.

The elite in this country are creating an entire underclass of slave labor that they can exploit.
 
Old 06-15-2018, 02:31 PM
 
2,360 posts, read 1,028,642 times
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Quote:
Originally Posted by SportyandMisty View Post
One of the fundamental lessons of Econ 101 (this is an econ forum, after all) is that there is no such thing as a need. There are unlimited [i]wants and desires[i] in a world of limited resources. Thus, no one "needs" a better wage. Most everyone "wants" a better wage.

Another fundamental lesson of Econ 101 is that total compensation is driven to by value-add, and hence employees who wish a better wage need to learn to add more value. The traditional path is via enhancing human capital, but there are many other paths.
Correct, i am not against your argument. Their is a differ between a "need" and a "want". I want better wage so i can afford to buy food. But i "need" to better my education to get what I "want". Issue with that is, not all folks are able to better themselves due to issues beyond anybody control, doesnt mean we "need" to treat them like lower end trash like we do now.
 
Old 06-15-2018, 02:33 PM
 
Location: Los Angeles (Native)
24,174 posts, read 13,685,578 times
Reputation: 11374
Thing is people view it from an emotional point of view .
“She’s a single mom with five kids she should get paid more “

Like you said if someone brings more value they get paid more by the marketplace .

A house flipper makes a profit because they added value to the property and made it more desirable to the market place .

Apple makes billions because they create products that add value to people’s lives.

Surgeons make a lot of money because people value health and living and few people have the skills to be a surgeon .

If people take the emotion out of it things make more sense .

People don’t get paid more or less because they are good or nice people .
A lot of people abuse and cheat on their spouses and make a fortune and a lot of poor people do the same thing .
 
Old 06-15-2018, 02:39 PM
 
Location: Paranoid State
12,685 posts, read 9,432,561 times
Reputation: 14942
Quote:
Originally Posted by hitpausebutton2 View Post
Correct, i am not against your argument. Their is a differ between a "need" and a "want". I want better wage so i can afford to buy food. But i "need" to better my education to get what I "want". Issue with that is, not all folks are able to better themselves due to issues beyond anybody control, doesnt mean we "need" to treat them like lower end trash like we do now.
I agree -- there really is no "need" to ever treat another human being like trash -- particularly a low-wage worker who is actually adding value to society by working.

I'm all for teaching them the legal pathways to a larger paycheck. By virtue of earning that larger paycheck, they will by definition be adding even more value to society.
 
Old 06-15-2018, 02:41 PM
 
Location: Los Angeles (Native)
24,174 posts, read 13,685,578 times
Reputation: 11374
Quote:
Originally Posted by hitpausebutton2 View Post
Correct, i am not against your argument. Their is a differ between a "need" and a "want". I want better wage so i can afford to buy food. But i "need" to better my education to get what I "want". Issue with that is, not all folks are able to better themselves due to issues beyond anybody control, doesnt mean we "need" to treat them like lower end trash like we do now.
Thatís most times a self limiting belief though . Many people limit themselves based on their upbringing too .

Unless someone has a real disability thatís another thing . In reality people have a lot more control to change things in their lives than they think .

Everyone can improve and do better . Itís not easy but not impossible . We all come up with excuses though.
 
Old 06-15-2018, 02:41 PM
 
2,360 posts, read 1,028,642 times
Reputation: 2071
Quote:
Originally Posted by jm1982 View Post
Thing is people view it from an emotional point of view .
ďSheís a single mom with five kids she should get paid more ď

Like you said if someone brings more value they get paid more by the marketplace .

A house flipper makes a profit because they added value to the property and made it more desirable to the market place . And the middle man just inflated the already inflated market.

Apple makes billions because they create products that add value to peopleís lives. not sure how it added value other then another bill that the consumer has to pay, More money for apple.

Surgeons make a lot of money because people value health and living and few people have the skills to be a surgeon . Notice that most surgeons are foreign or come from a wealthy background that got their medical school paid for already? Not going to find a off the street person from rags to riches in the operating room.

If people take the emotion out of it things make more sense . Its hard to do when you dont have it to enjoy your "Fruits of labor"

People donít get paid more or less because they are good or nice people .
A lot of people abuse and cheat on their spouses and make a fortune and a lot of poor people do the same thing .

see bold.
 
Old 06-15-2018, 02:50 PM
 
Location: Los Angeles (Native)
24,174 posts, read 13,685,578 times
Reputation: 11374
You seem convinced that’s it’s impossible to do better .

It’s easier to learn the game versus trying to change the game. Capitalism is the best system out there . Ask anyone that moved here from a socialist or communist country .

I’ve seen many people that have built themselves up financially from nothing to believe it’s impossible. I just met someone last week that is doing well in real estate locally starting with nothing but vision and hustle . Many people told him his strategy would not work but he proved them wrong .

If you think you’ll never do better financially or achieve wealth that’s what will happen .

If you think all rich people are greedy , you’ll never become wealthy or rich .
 
Old 06-15-2018, 02:53 PM
 
1,439 posts, read 511,664 times
Reputation: 4749
Quote:
Originally Posted by jm1982 View Post
You seem convinced that’s it’s impossible to do better .

It’s easier to learn the game versus trying to change the game.

I’ve seen many people that have built themselves up financially from nothing to believe it’s impossible.

If you think you’ll never do better financially or achieve wealth that’s what will happen .

If you think all rich people are greedy , you’ll never become wealthy or rich .


Great post—actually you made several. Can’t rep you again, so please consider this as one.
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