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Here you go. This is assuming that you are employed by someone and you do have a boss or the business does have a founder.
Example A ). If min wage is 7.25 and bumped up to 8.00 who is paying the extra 75 cents ?
Now once you answer that , how is this person going to come up with the extra money that is being taken out of his/her income to counter the min wage raise so she/he doesn't keep losing profits now ?
Here you go. This is assuming that you are employed by someone and you do have a boss or the business does have a founder.
Example A ). If min wage is 7.25 and bumped up to 8.00 who is paying the extra 75 cents ?
Now once you answer that , how is this person going to come up with the extra money that is being taken out of his/her income to counter the min wage raise so she/he doesn't keep losing profits now ?
Most companies can afford to increase the dismal wages they pay their employees. How many employees increase in pay from 7.25 to 10.00 per hour can be paid with 28 million per year?
Quote:
McDonald's, based in Oak Brook, Ill., gave Thompson a package worth $13.8 million, up from the $4.1 million he received in 2011, according to a regulatory filing made Friday.
Skinner's pay meanwhile rose to $27.7 million from $8.8 million the year before, reflecting a $10.2 million payment as part of his retirement under his contract agreement.
Most companies can afford to increase the dismal wages they pay their employees. How many employees increase in pay from 7.25 to 10.00 per hour can be paid with 28 million per year?
Thanks for not answering MY question. You just proved a point to everyone here that your not capable of answering MY question to you. Great job
I believe the answer was, "Cut upper management's pay in order to afford a wage increase for the lowest paid workers." Do I think it's a good solution? Eh ... maybe. Corporate American has fallen in love with the concept that paying their highest level VP's, excecs and CEO's makes good business sense.
Truth of the matter is, the work done by the CEO of McDonald's or any other mega-company really ain't worth tens of millions of dollars. Same story as the kid flippin hamburgers not being worth $10 per hour -- overpaid execs aren't worth what they're being paid. It's just a fad that's gotten insanely out of hand. But if you lower all executive pay by 50%, I still don't think you can afford to pay $15 per hour minimum. I think you have too many workers and it wouldn't move the needle nearly as far as people assume that it would.
Good job avoiding what I said I was showing that companies can pay more and be successful. Maybe you should learn reading comprehension before you reply to posts.
I believe the answer was, "Cut upper management's pay in order to afford a wage increase for the lowest paid workers." Do I think it's a good solution? Eh ... maybe. Corporate American has fallen in love with the concept that paying their highest level VP's, excecs and CEO's makes good business sense.
Truth of the matter is, the work done by the CEO of McDonald's or any other mega-company really ain't worth tens of millions of dollars. Same story as the kid flippin hamburgers not being worth $10 per hour -- overpaid execs aren't worth what they're being paid. It's just a fad that's gotten insanely out of hand. But if you lower all executive pay by 50%, I still don't think you can afford to pay $15 per hour minimum. I think you have too many workers and it wouldn't move the needle nearly as far as people assume that it would.
I always love it when people talk about minimum wage employees need to increase productivity, yet they don't question whether those high dollar CEOs are doing anything to increase productivity or do anything to earn their high paychecks....unless it is a government high paid worker, then they are outraged.
Here you go. This is assuming that you are employed by someone and you do have a boss or the business does have a founder.
Example A ). If min wage is 7.25 and bumped up to 8.00 who is paying the extra 75 cents ?
Now once you answer that , how is this person going to come up with the extra money that is being taken out of his/her income to counter the min wage raise so she/he doesn't keep losing profits now ?
Here are some States that the Min Wage is $8 and higher
California
Colorado
Connecticut
Illinois
Massachusetts
New York
Oregon
Rhode Island
Vermont
I have yet to hear of a bunch of businesses closing and it having horrible results. The best thing to do is not increase min wage it is to implement a negative tax or a basic wage.
Here you go. This is assuming that you are employed by someone and you do have a boss or the business does have a founder.
Example A ). If min wage is 7.25 and bumped up to 8.00 who is paying the extra 75 cents ?
Now once you answer that , how is this person going to come up with the extra money that is being taken out of his/her income to counter the min wage raise so she/he doesn't keep losing profits now ?
One fewer week per year globetrotting should suffice where I work.
I always love it when people talk about minimum wage employees need to increase productivity, yet they don't question whether those high dollar CEOs are doing anything to increase productivity or do anything to earn their high paychecks....unless it is a government high paid worker, then they are outraged.
All too true. McDonald's CEO makes $21 million apparently -- but what is he doing that makes him that valuable to the company? But I'm kinda neutral on this still.
I was poking around and the figure is approximately 440,000 McDonald's employees in the USA. It's pretty safe to assume that the vast vast majority of those employees are working at the actual McDonald's restaurants.Some are full-time, some are part time. So a good approach would be to assume they average 30 hours a week.
So
440,000 employees
X $5.00 per hour pay increase
_______________________
= $2,200,000 per hour
$2,200,000
X 30 hours per week
_______________________
= $66,000,000 per week
$66,000,000
X 52 weeks in a year
_______________________
= $3,432,000,000 per year
So the question is, would you be able to squeeze the $3.4 billion needed from executive pay? Just taking it out of the CEO's $21 million per year annual salary doesn't come anywhere close obviously. But how many millions/billions would you get just by cutting all executive pay significantly? I have absolutely no idea because I have absolutely no idea how many $500K+ execs McDonald's has in the USA -- but I'm kinda doubting you're going to find $3.4 billion there. From there, you're looking at increasing prices as your only other option.
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