$15 an hour isn’t enough: U.S. workers need a living wage

Oris Borloff said:
I didn't mean to direct that toward you, if you took it that way. Sorry. I wasn't challenging anything you said I was quoting your post to save typing a set up to what I wanted to say. I should have just quoted "create shareholder value" part. I don't consider myself a particularly effective communicator when I write.
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No offense meant or taken. I didn't want you to think I'm in favor of overpaid, greedy CEOs, of whom there are many.
 

JimBob1952 said:
It's also true that CEO pay has also become bloated. One of my first jobs was at a big New York bank. The CEO made about $350,000 a year (this was in the late 70s). Now the CEO of a big New York bank makes $20 million a year or more. Compensation is way out of whack, but I don't have a workable solution to that problem.
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As I understand, the CEO's compensation and retention are heavily dependent on the vote of the stockholders, who quite understandably want to maximize the return on their investment. So, the people actually doing the work(the workers) get their "returns" minimized as a result.

JimBob1952 said:
I'm all in favor of measures to help people at the bottom of the wage scale and take more from the people at the top. Maybe we could learn something from Germany, which has both low unemployment and a strong social safety net.
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I'd be interested in hearing how that might play in U.S. economy, I suspect there would be enormous push-back from money-centric political powers-that-be.

Japanese business has historically regarded their employees as an important asset of the organization, whereas U.S. business tends to treat employees as a liability.
 
Nathan said:
Japanese business has historically regarded their employees as an important asset of the organization, whereas U.S. business tends to treat employees as a liability.
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Brexit, the pandemic and other factors are causing employers in the UK to have a massive rethink about their workforce. Our supermarkets simply cannot get enough truck drivers. The cost of getting the necessary licence runs into many thousands of pounds, if the pay scale is poor at the end of all that training and investment, you are going to have a shortage of drivers. Which is exactly what's happened. Our supermarkets have had to dispose of millions & millions of pound's worth of perishable goods because of the truck driver shortage. As a consequence, those truckers are now earning in excess of fifty grand, yet supermarket prices haven't risen. We seem to be gravitating away from the US style of employees being a liability, towards the Japanese way of thinking that employees are an asset.
 

Aunt Bea said:
When I started working as an office clerk in 1974 the hourly rate was $3.60. That was not enough to live on but I didn’t have much to offer.

Over the years I took part time jobs, attended night school, and gained some experience. Eventually as I had more to offer my employer my income increased to a comfortable level.

A company paying a living wage is only one half of the bargain. The other half of the bargain is a workforce with something of value to offer.

IMO a young unskilled worker can lift themselves out of poverty with a good attitude, education, experience and thrift.

If our government could end poverty by guaranteeing a minimum or living wage it would have been done years ago when the minimum wage was first introduced.

IMO it’s better to let the market determine a fair wage and cost of living.
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Exactly so ! Entirely too many of todays youngsters, can't even write a coherent sentence and their speech is atrocious. As in, "He done gone to da mall".
 
Nathan said:
As I understand, the CEO's compensation and retention are heavily dependent on the vote of the stockholders, who quite understandably want to maximize the return on their investment. So, the people actually doing the work(the workers) get their "returns" minimized as a result.



I'd be interested in hearing how that might play in U.S. economy, I suspect there would be enormous push-back from money-centric political powers-that-be.

Japanese business has historically regarded their employees as an important asset of the organization, whereas U.S. business tends to treat employees as a liability.
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The balance of power is shifting a bit in favor of employees due to the pandemic, remote working and a general sense of "I've had enough." Who knows if things will ever return to normal, and what normal will be in the future.
 
JimBob1952 said:
Compensation is way out of whack, but I don't have a workable solution to that problem.

I'm all in favor of measures to help people at the bottom of the wage scale and take more from the people at the top. Maybe we could learn something from Germany, which has both low unemployment and a strong social safety net.
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Congress is working on legislation to increase taxes on high wage earners & successful corporations. The 3 1/2 trillion dollar cost to have government supply the needs so people no longer have to strive to better their situation is to be paid for by wealthy people & corporations.

While not in effect during the pandemic [heavily taxing the wealthy & corporations] Government help has made it clear people like staying home being cared for while others work. Given enough time & freebies the capitalist system can be replaced by full blown socialism.
 
Knight said:
Congress is working on legislation to increase taxes on high wage earners & successful corporations. The 3 1/2 trillion dollar cost to have government supply the needs so people no longer have to strive to better their situation is to be paid for by wealthy people & corporations.

While not in effect during the pandemic [heavily taxing the wealthy & corporations] Government help has made it clear people like staying home being cared for while others work. Given enough time & freebies the capitalist system can be replaced by full blown socialism.
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I
Tish said:
I can't blame them for leaving at that rate, teenagers working at McDonald's over here are on $18 per hour.
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To people from the US, Australia seems frighteningly expensive, so it's not surprising that wages are higher.
 
Nathan said:
It is evident that the harder the labor the less equity a worker receives for their efforts.

Average fast food worker is paid $7.25 /hr., gets scheduled less than 30 hours a week, so employer escapes providing sick time, hoilday/vacation time.
Works like crazy to keep burgers and fries coming; is on their feet all day.

Average CEO(in L.A.) makes over $200,000 per year, plus stock options. Has an army of subordinates to take care of virtually every aspect of running a corporation. Any physical labor generally entails getting in/out of golf carts, being seated in meetings etc.
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Average corporate CEO - at least a BA in Business Administration (an MBA is preferable) and 18 to 20 years of work experience in a cut-throat environment.

Average fast food worker - may have graduated high-school (not required) and 4 to 8 hours of on-the-job training in a giggly, prank-happy environment that likely includes at least 1 attractive co-worker. 😉
 
hollydolly said:
I don't want to be deliberately pedantic... but 30 hours a week..they're not on their feet all day@5 hours a day... they can certainly have time to work another job. Should they have to ?.. that's another question, but if someone is willing to work part-time, for a minimum wage , and they have to provide for themselves or others they should be at least willing to work another part-time job to make up a full time wage.
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There were no full-time jobs available here for my daughter -- so she decided to work 2 part-time jobs. She couldn't do it. The companies would pay her a low wage, and require her to be available 24/7/365. Some companies ask her to tell them her availability and then schedule her for hours outside those time frames. If she could not work those hours (usually with hardly any notice) she would be forced to quit.

These jobs were retail stores, fast food restaurants, and a hotel (maid).
 

CEO Pay Skyrockets To 361 Times That Of The Average Worker​

https://www.forbes.com/sites/dianah...s-that-of-the-average-worker/?sh=918d672776dd​

"If you have any doubt about our country’s disappearing middle class, check out the current CEO-to-employee pay gap.

In the 1950s, a typical CEO made 20 times the salary of his or her average worker. Last year, CEO pay at an S&P 500 Index firm soared to an average of 361 times more than the average rank-and-file worker, or pay of $13,940,000 a year, according to an AFL-CIO’s Executive Paywatch news release today."
 
Gary O' said:
Yup

We (two retirees) live waaaay under that $15/hr mark (yeah, that's $7.50/hr each)
And put away noticeably more than $1000/mo

Bottom line;
If you can't afford it, you can't have it
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Yes, Gary, but you have common sense, skills and an awesome work ethic. All are lacking in today's environment.
 
WheatenLover said:

CEO Pay Skyrockets To 361 Times That Of The Average Worker​

https://www.forbes.com/sites/dianah...s-that-of-the-average-worker/?sh=918d672776dd​

"If you have any doubt about our country’s disappearing middle class, check out the current CEO-to-employee pay gap.

In the 1950s, a typical CEO made 20 times the salary of his or her average worker. Last year, CEO pay at an S&P 500 Index firm soared to an average of 361 times more than the average rank-and-file worker, or pay of $13,940,000 a year, according to an AFL-CIO’s Executive Paywatch news release today."
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That's sort of what I thought. Ever since the 70s when I started working, I've seen an explosion in wealth at the top. At the same time, things like rent, house prices, car prices, college tuition, and health insurance have all skyrocketed in price. That makes it very hard to be "middle class" on what used to be a perfectly acceptable household wage.

College is a great example. I went to State U for about $1500 per year in tuition. Same school now is much harder to get into and costs $30,000 in-state. Who can afford that?
 
I am most likely in the minority, but the minimum wage is WAY too high...all it does is prevent employers from offering more jobs and those who are working must do the work of two people....if they can. A high minimum wage swells the unemployment lines. Government can't solve problems....Government is the problem.
 
The work ethnic is lacking .
Didn't any one teach their children how to earn that new bike or game they wanted?

From an early age I wanted a horse,, would cry every time I saw one.
I got an allowance for doing house hold chores,, slowly got $100 saved.
Begged & begged for a horse.

My teen years were starting ,, finally my dream came true.
We bought a poor skinny horse,,not realizing it had 'shipping fever'.

One of the stipulations of owning a horse ,, was I Must clean stall & feed it, brush it.etc.
Neither of my parents liked horses.

Lessons well learned in the care of a large animal are still with me.

How many of you had to 'work' for an allowance?

What did you learn?

Yes,, I was an old school parent to my sons.
Hope that my son raised his daughters the same way.
 
Old&InTheWay said:
I am most likely in the minority, but the minimum wage is WAY too high...all it does is prevent employers from offering more jobs and those who are working must do the work of two people....if they can. A high minimum wage swells the unemployment lines. Government can't solve problems....Government is the problem.
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None of the Nordic countries have a government-mandated minimum wage. Neither does Switzerland. But they all have strong trade unions in each industry which negotiate decent hourly wages.
 
Sliverfox said:
Perhaps hard work, planning ahead has become a thing of the past?
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The gist of this thread reminds me of a thing I put together last century

The pics I conjured up were hodgepodge crude, but the point was made clear to the younger members of that site
(happily...they loved it)

DCOQO2W.jpg
 

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