So to clarify, you think the minimum wage should almost double? Do you think that would inspire job growth?
ETA - Sure, maybe Walmart and McDonald's could handle the for awhile, but what about the thousands of other companies that a bairley making it that would go under? Yes, you might bring some people's wages up, but a massive amount of people would loose their jobs and be out of work all together. Sure it would be nice if money grew on trees and everyone made tons of money, but in reality it does not work that way. I am thinking of my grocery store Bilo. There is no way they could have a $15 minimum wage without charging a ton more for their groceries.
Seeing all companies as having a CEO that sits at the top raking in the bucks is such a gross generalization. There are SO many small-mid sized companies that don't have any high ranking executives that are 'stealing all the dough' while they purposely pay their workers as little as possible. Partners/Owners that barely make ends meet, or struggle every day to figure out how to be profitable at all or not have to lay off more people.
I also don't even get the overall hatred of CEO's and how much they make. The majority of them make what they do because they are the primary reason the companies under them are successful. The CEO of my company makes a ridiculous amount of money and good for him. He is one of the main reasons my company is so profitable and I have been here for over 10 years not once having to worry about my job, regardless of the state of the economy. I know not every CEO is like this but many CEO's get paid the big bucks because they deserve to...the company's success, and the livelihood of everyone who works there, rests on their shoulders.
And I agree with Lisa, raising it is not going to solve the problem.
I actually don't have a set number in mind, although I think that $9 an hour would still be too low in my area. I almost think that it makes more sense to set it at the state level, since the cost of living can vary from state to state. $9 an hour in Denver CO isn't even close to enough to support a family, although I can say that a young 20 something can live with roommates on $9 an hour(that's how much I made at my first "real" job as an Admin Assistant when I was 20) or could about 12 years ago. :)
Like others, I believe that if people have more discretionary money to spend, they will stimulate the economy which is good for everyone, including businesses. The economy is kind of like an ecosystem in that way - when you starve off on peice of it (like people's buying power) it all starts to collapse.
The average CEO makes about 380 times what the average worker makes. I'm not saying that don't contribute more and shouldn't make more....but 380 times more? Like, they couldn't make 50 times more and still be considered well recognized for their outstanding efforts? Do you really believe that your CEO does such an outstanding job that he's worth 380 of you to the company (assuming you are an "average worker?")
I don't hate CEOs, but I don't really think that the wage disparity in our country is a fair reflection of who works harder or has better ideas or displays better leadership. I also think the extremity of the wage disparity is harmful to the economy and even yes, harmful to our beloved corporations since it limits the spending power of customers. I think that surely there is a (beneficial to ALL) middle ground between your wonderful CEO making 380 times what the average worker makes, and having the CEO and the average worker make the same thing. I don't know what that number is, but even 50 times more sounds more fair to me than 380. Wouldn't you like to make 50 times more than the average Joe? I sure would. :)
CEOs earn 380 times in pay more than average worker - Apr. 19, 2012
I wonder how much more than the average worker movie stars or star atheletes make? Funny how we don't compare them to the average person's salary.
Bonita, I'll respond when I have a few more minutes. Gloria, I agree, celebrities also get over paid by an appalling amount.
Well, the average person can't be a movie star or a professional athlete. And when people stop buying movie tickets or stop buying tickets to games, the market will then reflect their salaries. Till then, we are the ones paying them and we are the ones creating the market foe their product, and I fully believe that they deserve what they get (or else I would be against the free market, which I am not!)
I think that the idea of making the minimum wage equal to a "living wage" in any given city is catastrophic. Sorry but when I was a 14 year old unskilled hostess at my first job I neither deserved or made a "living wage". The idea that a cashier should make like 50K (probably a living wage for a family in NYC or DC or SF or other areas) is laughable. It does not make sense.
I do not agree with raising the minimum wage to these amounts some list in this debate. I agree with continuing to raise it on par with inflation, but not to the point where you are talking about ~ first off you put most of those people who arent paying taxes into a tax paying bracket, thus taking a percentage right off the top while killing the employer. Secondly, the idea is not that people get and STAY at entry level jobs. Are we? I mean, we live in a country where you are guaranteed a public education through high school. I don't believe that people who choose not to take advantage of a high school education deserve to enter the market place earning what college grads make!
The idea is nice and fuzzy sounding, but so are baby tigers.
I understand the CEO hatred on a visceral level, I mean I get it why people read those numbers and say ! Hey! that sucks! But again, use your money. Boycott those places. Make sure your portfolios don't include their stocks ! (And good luck with that)......but I don't get it on a very literal level. What would you prefer? do you want to see salary caps? Do you want people to be able to vote on how CEO's get paid, regardless of shareholder performance? I mean, what is your realistic solution to that? I'm so curious.
I would rather see training to help the couple that both makes minimum wage move up and make more. I think the real problem is not that the minimum wage is too low, it is that the couple does not have the skills to make more.
I always think of the minimum wage jobs as being specifically for young people (teens and college kids) or for people just starting out in the work force.
My first job started out at minimum wage, within my 60 day probationary period I received a raise, and within 120 I was making almost 2x minimum wage. That was in 1994