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I'll see your 70K and Raise you 365K!
https://www.spotrac.com/blog/nfl-minimum-salaries-for-2015-and-the-veteran-cap-benefit-rule/
It seems things may be coming apart at the firm where this started. Some of their better people are leaving, including one who did quite well but who now sees slackers doing just as well and his long term prospects diminishing.
http://www.msn.com/en-us/money/comp...uit-because-of-it/ar-BBlhrAI?ocid=mailsignout
Interesting. The reward isn't in the amount of money one makes but in the disparity between one's salary and that of those of lesser standing. Shades of the Parable of the Hired Workers. LOL
Heck, at my age I would settle for a mere million dollars!Why don't we deposit 1 billion dollars in everyones bank accounts and see if that fixes the problem?
It's not the QUANTITY of money that matters, instead, it is the VALUE of money over time that matters.
Every $1 you earn today should buy you the same amount of goods tommorow.
We should find out why the value of money is not stable.
It's Gutenberg's fault.Why don't we deposit 1 billion dollars in everyones bank accounts and see if that fixes the problem...We should find out why the value of money is not stable.
Heck, at my age I would settle for a mere million dollars!
As might have been expected, the company is now nearing collapse as a result of this policy.
http://dailycaller.com/2015/08/02/ceo-who-raised-minimum-salary-to-70k-falls-on-hard-times/
How ironic is it that a processing service is defined as "producing nothing"?It seems a bit ironic considering the business he is in. E.g. a business that produces nothing one that processes credit card payments.
I agree that there are a few items in the story that don't seen to be a necessary consequence of his plan, but I certainly can understand the people in management or who have been with the company a long time thinking that it's not fair to give the newest hires 70K, just like that, when they themselves may get a small or negligible raise because they're nearer that salary already.it looks like how he raised his company's minimum wage to afford it is causing his problems. Why is this guy renting out a house to cover his bills? If you're going to take a pay cut for the little guy, as noble as that is, you better learn to change your lifestyle to accommodate the lesser income. It looks like he didn't think this thing through.
Except in this case people who had been there a long time and put in long hours did not get the raise they otherwise would have.
A business owner is free to do that and those who work harder are free to work elsewhere.
One thing that really struck me is that one of the people who quit was their web designer. His pay went up from $41,000 to $50,000. Eiher of those seems low to me.
That isn't how I read it. From what I understood, the senior people were upset because they weren't making as much more than they used to. For example, the web designer got a $9000 raise -- yet that wasn't enough because some others "got more."
It sounds to me that all of them got at least the raise the would have normally received. I believe they even received a bit more than they normally would have, but were upset because they didn't get as much of a raise (since they were already near or over $70,000) than some got to bring them up to $70,000. They looked at it from how much less they were getting in comparison to others in the company, rather than comparing how much they were getting to what people with similar experience were getting at similar companies. I suspect many (or most) of those that quit are struggling to get more money, or even equal money, at another company.
As for the web designer, it seems fairly obvious that he is a part time worker. For example, the fact that, after the raise, he still only made $50,000 -- when there is a $70,000 minimum -- largely proves he was not a full time worker. I'm guessing that, if he worked full time, the web designer would be making a minimum of $100,000.
Gravity lost two of its most valuable employees whose departure was “spurred in part by their view that it was unfair to double the pay of some new hires while the longest-serving staff members got small or no raises.”
I predict a similar thing will happen with the $15/hr min wage movement. Seeing a worker get a 60-100% or more raise (depending on min wage in the area) may motivate other workers to find other opportunities.It seems things may be coming apart at the firm where this started. Some of their better people are leaving, including one who did quite well but who now sees slackers doing just as well and his long term prospects diminishing.
http://www.msn.com/en-us/money/comp...uit-because-of-it/ar-BBlhrAI?ocid=mailsignout
I read this story, but found no credible news source that ran this story.
Seems like only right wing news media is the only one running it. (Even Fox didn't mention it.)
If it were true, wouldn't other sources mention it? Is every other news source that bias? Even Fox news? The other media didn't consider it news?
I can't help but wonder if they didn't exaggerate the story?
If true this would destroy fair wage people. Everyone would be so happy if everyone made __ dollars an hour.
Sadly no. When the minimum wage goes up, it swallows up all the jobs up to that point, making every job a minimum wage job. Very few get a raise to get them above minimum wage, and every step above minimum is now one step closer to minimum wage.
The people that work hard are angry because the lazy slob that does minimal gets the same pay as they do.
The people that worked the longest are upset because the newbies are making the same as them.
I do believe minimum wage should be increased, not to $15/hr, but closer to $1.50-$2 an hour more. Not because people can't live on minimum wage(it was not meant to be lived on), but because the cost of living is higher now then when t was raised last time.
Don't like minimum wage? Make yourself worth more then the majority of people looking for work, with education, experience, job ethic, attitude etc. If you make it so they want you around working, they will want to pay to keep you. If you could be replaced by 20 other people on the street, you aren't worth more then minimum wage.
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