Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I wonder why those people "who created those profits" don't start their own companies, and keep those profits for themselves? Whatever could be stopping them?
Right, because anyone can just pull a million dollars out of their ass and "start-up" a Fortune 500 company.
Did you think about it is because the people making those profits are being paid crap wages, all while having to raise families, pay for their food and medical issues, and trying to keep a roof over their head?
I haven't read the rest of the thread so perhaps you have responded to this already, but if I am ask how exactly does income inequality raise prices?
It would take a college course to explain all the negative effects that income inequality causes in an economy, but I'll try to summarize some ideas....
Wealthy people are able to suck up all of societies resources for themselves. This creates demand within a market, but it only benefits the wealthy who can afford the resources, leaving all others scrambling for what few resources are within their affordability. The effects of wealthy people buying up real estate in bulk for instance has terrible ramifications for middle class home buyers.
For the people against the 15 dollar minimum wage, put yourselves in their shoes. Their lives suck. With today's cost of living, 15 dollars still doesn't mean ****. Especially for the burger flipper in NY or LA. The real debate on wages shouldn't be against a McDonald's employee barely getting by but CEOs making 300x what their desk jockeys make.
Sure, I think CEOs are overpaid. By a LOT. I also think that professional sports players are grossly overpaid. But going back to the CEO...
So the CEO of McDonald's makes 300X or even 3000X times what the burger flipper for McDonald's does, right? But there is 1 CEO of a company....how many burger flippers do you think work at ALL of the McD's? A quick look says that it employes 1.7 million people world wide. The CEO makes 8.75 million dollars a year. If we took his salary away entirely, that gives each worker an extra $5.14 PER YEAR. (which is a raise of .2 cents an hour)
So yeah, you are definitely right. If the evil CEOs didn't commandeer so much money, all the workers would be able to make $30-40 an hour, no problem.
I think many forget that McDonalds employees work for the franchise owner who sets their own wages. It's already a business with pretty slim margins, therefore a franchise owner usually has multiple locations to make any real money.
Just for clarification, at this moment in time, how much does a minimum wage worker get every month and what benefits are included? What taxes and welfare are there?
You guys are also forgetting the large numbers of illegal immigrants in the US from places like Mexico or Pakistan. They'll take the slack if needed.
None of your business what my degree is in. Keep your "worries" to yourself and stop looking for ways to belittle others on an internet board.
And I'll go to grad school if I want to. I did score well enough on the GMAT to get into several MBA programs in the state of Florida and I am still looking at my options. I'll be making a decision within the month.
Trying to help you and give you advice (and save yourself from more debt) as someone who works in the business world and hires. I can see why you're struggling. Good luck and hope things get better.
Right, because anyone can just pull a million dollars out of their ass and "start-up" a Fortune 500 company.
Did you think about it is because the people making those profits are being paid crap wages, all while having to raise families, pay for their food and medical issues, and trying to keep a roof over their head?
Ah, so there is a reason why the business OWNERS are getting the benefit of the company growth, rather than the minimum wage workers. As you clearly pointed out, it's because the owners did something that the workers are unable to do.
If one chooses to raise a family while only being able to earn minimum wage, one has made a very bad choice.
Just for clarification, at this moment in time, how much does a minimum wage worker get every month and what benefits are included? What taxes and welfare are there?
You guys are also forgetting the large numbers of illegal immigrants in the US from places like Mexico or Pakistan. They'll take the slack if needed.
Federal minimum wage at this time is $7.25 per hour. If a person works 40 hours per week all year long, that works out to an average of $1,256.67 gross per month.
Fica taxes on $1,256.67 per month are $96.14 per month. Depending on the state, there may be additional payroll tax.
If the employee is single and their own dependent, the federal income tax liability will be $478.
So that means an average of $1120.70 take home per month.
Any benefits are up to the employer. Any welfare benefits are going to vary by state.
Trying to help you and give you advice (and save yourself from more debt) as someone who works in the business world and hires. I can see why you're struggling. Good luck and hope things get better.
blah blah blah. "I'm on an Internet board and I can be an ass to anyone and everyone that I want to."
You can see nothing other than your keyboard. If you think you know a person through an anonymous Internet forum then I cant imagine what your personal and professional life outside of city-data must be like. Get real.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
