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Study is wrong and not complete enough to make this judgment.
As a business owner I could not afford to pay higher minimum wages to people who can only sweep floors and put light bulbs in.
Min wage should be lowered and you will see a massive increase of new hires.
Min wage is there for a reason, non skilled, no talent/value to the business people who just barely earn their paycheck.
When the last minimum wage increase took effect it wipes out jobs at my bank, at the gym, my favorite antique mall laid off floor personnel and cut down to one cashier and many small businesses in my area laid off workers.
It increases the expenses of a small business and during down economy we are having right now, it kills business.
Someone mentioned that it then cost us all more money for a product because the business is paying out more money and getting less value back from a min. wage employee.
Put it back to 5.15 per hour and the economy will start moving again.
You act like the size of a company is the only thing to do with salary. If that were the case we could just have the government decide what pay should be based on company size.
Everthing else being equal, does an accountant get more pay if she works for a company that employs 500 or 50? Methinks not.
If I'm a contractor do I get paid more because I built the exact same building for a company that does 5 billion a year in sales over one that does 5 million? Methinks not.
Please read the entire post. Clearly this was a response to a person who claimed that the size of the company has something to do with salary. This was to DEBUNK that. You would've known if you actually read the post.
Study is wrong and not complete enough to make this judgment.
As a business owner I could not afford to pay higher minimum wages to people who can only sweep floors and put light bulbs in.
Min wage should be lowered and you will see a massive increase of new hires.
Min wage is there for a reason, non skilled, no talent/value to the business people who just barely earn their paycheck.
When the last minimum wage increase took effect it wipes out jobs at my bank, at the gym, my favorite antique mall laid off floor personnel and cut down to one cashier and many small businesses in my area laid off workers.
It increases the expenses of a small business and during down economy we are having right now, it kills business.
Someone mentioned that it then cost us all more money for a product because the business is paying out more money and getting less value back from a min. wage employee.
Put it back to 5.15 per hour and the economy will start moving again.
Good thing you people don't make public policy. Otherwise the American Dream would be dismantled.
So American companies aren't 40 times larger. That's simply not true. While Walmart paid $19 million to it's CEO, Tesco paid less than $7 million. Target's CEO was paid $13 million (a company MUCH smaller than Tesco). That's pretty odd to me. Target, a smaller company paid SIGNIFICANTLY more than TESCO...the world's fourth largest retailer.
The CEO pay is too high in the US. Why not actually trickle that money down?
First off, trickle down money won't work in the example you give. Adam Smith proved the fallacy the money is wealth in Wealth of Nations a long time ago. You can't just give people moeny for no reason and create wealth. If you could the President Obama's economic plan would have worked.
Secondly, so what if Target pays the CEO 13 million a year. Obviously they can afford and think he/she is worth it. If you don't agree with it then don't shop there.
Thirdly, it is impossible for a company to pay any one person too much and stay in business. For example, you buy a house and live in it for 25 years. You pour all your resources into your kitchen and ignore the rest of the house. And the end of 25 years you want to sell it. I come to look at it. I see this marvolous kitchen with all the latest appliances, immacualate marble countertops, $100,000 cabinets and so on. Then I look at the rest of your house and I see holes in the walls, torn carpeting, plumbing that is substandard and so on. Your house is worth zero.
Same thing applies to a business. If a company pours all it's resources into one area (the CEO) then the rest of the company is worthless. And they are no longer a business. Companies know this so they avoid the whole bancruptcy thing by not overpaying a CEO in the first place.
Just another example of how the free market is already doing what people want the government to "fix".
And to be blunt it doesn't really matter if you approve of someone else's salary or not. If you think a company is overpaying someone or not paying someone enough then take your business elsewhere. If enough people agree with you then the company will no longer exist. All the jealousy by liberals of CEO pay isn't going to change a damn thing.
I already did. I already made my point. If you want you can go back and read. You lack of wanting to read the argument does not mean that I did not make my point.
European countries pay less in medical costs (per capita), less on university education, and they have the highest standards of living. Not to mention...we have as high (if not higher) percentage of debt than many European nations. Our tax burden is 24% vs. 27% in France. Britons pay 25%. That's funny. They pay slightly more in taxes, but receive more benefits.
The US is still highly indebted. 94% External debt to GDP and 54% Public debt to GDP. The Public debt to GDP is roughly 10-30 percentage points lower than most European nations. With that said the US is still in the top 70% of indebted nations.
However an OECD report in 2007 reported that the US had similar government debt to GDP ratios as Germany and France. Prior to the crisis the US has very similar debt to gdp ratios.
We will see how this all will play out. However one thing remains certain that the average American household is more indebted than the average European household. Consumer debt is higher in the states.
You have already proven my point. Please research your own statistics. Britons pay as high as 50% in income taxes alone and this does not include local taxes, vat taxes, property taxes, etc.
French France is anything but a tax haven, having some of the highest tax rates in Europe. The tax system is also somewhat different than in the States.
What gives you the right to decide that they aren't over compensated? What gives you the right to believe that others aren't under compensated?
I have never one said a CEO doesn't make enough money. And I never said anything about people beig undecompensated. I just explained a few of the myriad reasons people get paid differently for different jobs.
I'll sum it up for you.What a person makes is the business of the person paying and the person doing the job. Those are the only people that have a right to make these decisions. No matter how you want to justify it aint none of your business what the CEO of Target or the teller at WalMart makes. And it aint none of their business what you make.
All people like you are doing is sticking your nose where it don't belong. It's very unbecoming.
If you happen to know what a person makes and you don't agree with said compensation all you can do is not bring your business there. That's it. You might as well just accept it becasue that is a fact and you can't unfact a fact.
And I'm thinking of buying Office 2010 this week. You say the income gap hurts the middle class. I'm middle class. Bill Gates qualifies as rich. (Or so I've been told). So I would like to know how Gates' salary hurts me? There is obviously an income gap there. So I don't want to buy this product if it is just going to hurt me. So please tell me, how does Gates' money hurt me? I am being serious here. I am planning on buying this product this week, but I won't if it is going to make me and my middle class peeps more poor.
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Already proved my point then
