Some Animals Are More Equal Than Others but Some Girls Are Bigger Than Others...

Miltamec Soundsquinaez · 07-02-2009, 11:07 PM

Quote:

Originally Posted by IamAlejo

Wouldn't raising the minimum wage increase labor costs which in effect would raise the costs of goods? Goods that minimum wage labor need to have a "decent living".

And lol at a flat sales tax of about 30% on purchases. And you are trying to help the lower/middle class?

No, to pay for the worker's wage increase, I propose CEO's take a huge pay cut.

Here's the math:
500 people work for a factory all year with no turnover (hypothetical), make $7 per/hr. work 40 hrs. per/wk.
That's a pre-tax bringhome of about $15k per yr.
If the average CEO makes 300x that, then we'll say the CEO for that company makes $4.5 million/yr.
The total of all the menial workers salary would be $7.5 mil./yr.

Now, let's raise the worker's wage to $10 per/hr. 40 hrs. per/wk.
pre tax-about $21k per
Total menial salary about -$10.5 mil yr.

So, total menial wages at $7 per hr. for 1 year-$7.5 million
total menial wages at $10 per hr. for 1 year-$10.5 million

A $3 million difference, and the CEO already makes $4.5 million, so take it out of his check, and he's down to $1.5 million per/yr. and the workers got their wage increase. The CEO could still easily pay off a 30 year mortgage on a million dollar home in 1 year, and still have several hundred thousand left over for that year. In this example the CEO would have taken a cut to only be making 100x as much as the average worker as opposed to the national average of CEO's which is making 300x.

Now, I propose we have make the CEO only making 10-15x as much as the average worker. You get the point, CEO's are making way too much.