My apologies for the late reply. I had a few afternoon meetings at work and then I had to go to practice as I coach both my sons' football teams.
You have 7 different posts, I am not sure which ones I did not address. But let's dissect them all one by one.
For some reason, people still hold onto the idea that $15 hr is alotta money. It was when I was a kid. Mid level managers of Fortune 500 cos. were making that.
Now, it should be the minimum wage.
When a Big Mac debuted in 68, it was 40..45 cents. Now it's $4.
Minimum wage was $1.60 then vs $7.25 now.
Big Mac can't ketchup
$15/hr is $31,200/ yr. This is not a minuscule amount. As with all things, there is nuance and context, which you will see me state periodically.
In Akron, OH, $31,200 is considered middle class. Why? Because the average individual income for the Akron metropolitan population is $23,320 USD (2019). This figure and comparison is akin to numerous other cities and regions across the United States. I assure you that a person who is earning $23,320 would not agree with you that $15/ is not and I quote, "alotta money."
"So what I keep hearing you and others say is there should not be a pay difference between jobs that require nothing but you to show up and no experience no training and require no responsibility or accountability and those that do?"
Not to speak for anyone else, but I don't think that's what the argument is at all.
What I'm saying is the scale is all screwed up.
Those people with skilled jobs need to be paid more also! Much more.
$15 min wage..and that's not a liveable wage for alotta adults.
Skilled labor, professionals need to be in the $50k-ish and up bracket...and that's on the low end.
It used to be that way, but companies found they could reduce wages.
Your position that basically everyone should be paid more is very juvenile in general logic and reasoning. Why? Because it completely ignores elementary economics. Quite simply, if there is more money in the economy, prices of goods and services will increase. In business and in economics we call this phenomenon Wage Push Inflation.
A recent report from the Congressional Budget Office (CBO) estimated 1.4 million jobs would be lost (0.9 percent of employment) by the time the federal minimum wage reaches $15 in 2025 and would increase the federal deficit by $54 billion over the next 10 years due to increased spending on federal programs, such as Medicaid.
It's kinda hard to set scales in a free market, but totally agree that you shouldn't be making 35k after graduation, in alotta jobs.
But there are no absolutes.
If it was just kids making min wage, I'd agree more, but there is a large segment making the minimum or just over it. Their situation is more dire. And those people ARE the lower middle class.
It's simple economics. Our wages need to better reflect the price of things.
Again, the logic you are using is nonexistent and 100% rooted in emotions. If a person earns a BA in Art or Fashion Design or Tourism And Hospitality or Creative Writing or Sociology or Philosophy, Psychology or a number of other degrees concentrations, they cannot expect anything, but what the market deems they are worth. For most, it is little to nothing. Wages are largely based upon skillset, need, and scarcity, not as you put it, "the price of things."
From CNBC
EXECUTIVE COMPENSATION
CEOs see pay grow 1,000% in the last 40 years, now make 278 times the average worker
PUBLISHED FRI, AUG 16 2019 12:27 PM EDTUPDATED FRI, AUG 16 2019 1:47 PM EDT
Jeff Cox
@JEFFCOXCNBCCOM@JEFF.COX.7528
Those damn lazy, underachieving, greedy workers forced the CEOs to outsource those jobs and THEN made those bosses increase their salaries disproportionately...
I would argue that how an individual spends their salary has nothing to do with the earnings of a CEO.
Additionally, according to an article in TIME magazine "Overall, the 256 CEOs who responded to this survey—working in a range of fields from agriculture to utilities—reported working a mean of
58.15 hours per week, which shakes out to around 10–11 hours per day, not including weekends.
Most CEO are on call 24 hours a day and only take working vacations. No breaks.
By contrast, most $15/ hr workers average less than 35 hours per week.
However, hypothetically, if that $15/ hr worker was to work the same average as the CEO, then they would earn $45,357/ yr. Does this absolutely change things? This also begs the question, is the solution more hourly pay or more hours?
Bruh, you're wasting your time. You called it the same way I did yesterday.
Tito wants you to believe that the millions of manufacturing jobs lost, in the past, and the current 300k jobs a year lost are all the result of lazy, greedy people and not greedy CEOs.
The stat below shows where the greed lies...
CEO's comp up 1300% vs 18% for avg worker!
So basically the avg guy got only a couple percent annual raise OVER 40 YEARS!
But, "The dollar had an average inflation rate of 3.43% per year between 1978 and 2018, producing a cumulative price increase of 285.32%. This means that
prices in 2018 are 3.85 times higher than average prices since 1978, according to the Bureau of Labor Statistics consumer price index."
The CEO-to-worker pay gap has expanded exponentially over the past several decades.
The
Economic Policy Institute (EPI) estimates that CEO compensation has grown
1,322% since 1978, while typical worker compensation has risen just 18%. In 2020, CEOs of the top 350 firms in the U.S. made $24.2 million, on average — 351 times more than a typical worker.
There's your greed. It don't take an ivy league education to see that.
However, if Tito still feels so strong about how greedy and lazy these blue collar workers are, I invite him to go to a bar or restaurant in a rust belt town and tell those people, whose jobs were outsourced, about their lazy work ethic.
I can give him a heads up, though...
It won't end well for him.
This can be easily addressed by making you aware of how a corporate business operates.
Ask yourself this......If CEOs are so "greedy" as you stated, who actually determines the CEO's salary and packages? Do you really believe that a person becomes CEO and then gives himself or herself a raise? Of course not. CEOs do not set their salaries, CEO salaries are based upon the recommendations of the board of directors of the company. Also, guess who gets to approve the recommendations? The shareholders. So, why do CEOs get paid so much? Because they are the individuals tasked with steering the ship to maximum profits. If a person can increase the total profit by 500 million, giving them 10% which is 50 million is nothing because you wouldn't have had it anyway if it wasn't for that person.
@Tito
"A non-educated worker who is easily replaceable should not be paid the same as a CEO. Period."
Possibly the worst argument I've ever seen.
I write CEOs are paid a thousand times the avg worker (I wrote it at least TWICE, so you couldn't have missed it) and this is your response?
I literally stopped reading, because if you can't quote me accurately, and debate those points, what's the point of the discussion?
Hella weak comprehension for a supposed ivy leaguer.
My position is the same. A talented CEO is much more valuable than someone working the fries or and ringing up my order. As I stated earlier, salary is based upon the value one brings to the shareholders.
@Tito_Jackson
"If I missed your post, give me a moment to reply"
Just a reminder that YOU typed that...
At first, I was curious as to how you'd attempt to respond. Now...not so much.
Don't bother, bruh. Lots of folks on here disappear, when they can't support their claims.
Somehow you can see every other post, but when it's one with overwhelming evidence to prove my point, you ain't Tito Jackson, you're Stevie Wonder.
As you can see, everything that you have stated has been proven false. You have shared nothing that justifies why any person deserves to be paid more just because prices are high. I will say it again for the people in the back.....Wages are largely based upon skillset, need, and scarcity, not as you put it, "the price of things."
Now, morally, the minimum wage has not kept up with inflation nor has it kept pace with executive salaries. I have no problem acknowledging this fact. However, there is no law that states that a company has to increase all worker's wages equally.
CEO are fiduciaries of companies and their number one job is to increase profits. That's it. That is their job.