First question, why not more? What you are trying to argue is that raising everyone’s wages will logically produce greater revenues, correct? Second, from this article I didn’t see what type of business this is and hence the type of profit margins. For this type of business it would seem like it worked. Do you think all businesses can do so? Let’s take McDonalds for example and pay every employee $35/hr (which is about $70,000/yr). I would assume they would have to significantly raise the price of their Big Mac, right? How much do you figure?
I would also like to see athletes, actors, musicians, etc., do this as well. Let’s see them take less pay so that the beer guy, the concessions people, the support actors, the support staff, could make more money too.
Personally if a CEO of a company wants to do so and their profit margins support it good for them. And if that produces a more productive employee and hence a more productive company good for them. In the end it’s ALL about a business being profitable and succeeding in the free market.
Business wildly successful. CEO happy. Employees happy. United States treasury happy.
Let’s here the downsides of raising the minimum wage to 70,000 a year.
Allan
Talk radio hosts don’t speak for me. I am perfectly fine with CEO’s of companies paying people more equitable and better salaries. But Al’s making the argument for a $35/hr min wage with this comment.
I am all for companies willingly paying employees decent salaries as a tactic. When that works, it is great all around. It is a capitalist tactic, not socialism.
If it fits that company’s business model, all the better.
That doesn’t mean it is going to work all around. If a burger shop has to start charging $15 for a hamburger, people are likely to find they can make their own hamburgers. Maybe that model wouldn’t work in that case.
But hey…maybe some delicacy hamburger in a high rent business district…might work there. Who knows. Let them give it a try.
But then, if Democrats really cared about the salaries of the lowest income earners, they wouldn’t be flooding the country with cheap labor.
It’s a private company and I honestly prefer this type of action rather than Joe Biden signing an executive order that makes the minimum wage $100K a year. We should encourage ideas like this, and an owner making a decision for what’s best for HIS company without government intervention is the antithesis of socialism. Ultimately, the private sector wins, which goes against all Democratic policy intent.
How could CEO’s survive on a salary of 40-50x their average workers pay prior to the 1980’s…yet today, that number is now 300+x the average worker’s pay.
Of course. And if nothing else, and like they say in sports, it puts a better product on the field. You get what you pay for, and that includes employees. It’s usually better if your employees care about their job.
The whining never stops. When I worked in road maintenance from 2014 to 2019, the lowest pay was 32.64 an hour. That was for your average shovel jockey. They still whined. That said, the vast majority did their jobs very well. What needed to be done got done quicker than need be. Fear of losing a job like that is a great motivator. Still they whined.
