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I mean have a conversation about the wage gap sure but know that these numbers are not meaningful as it regards the US.
by the time I finished reading the text, the US minwage clock was at 10c, and in the time it took me to get to this sentence, it's half a dollar, an amount I certainly wouldn't object to for a few minutes of effort.
Not to say that there's anything reasonable with the wage inequality. Rather that the situation is probably worse than you may think.
Earlier quoted context omitted.
c) the minimum amount required to live peacefully and with dignity.
This is generally why I'm in favor of a UBI. It would solve so many employment problems if an employee in a bad situation could up and leave without a near-guarantee that they lose access to their home.
People like to talk about inequality but absolute poverty seems like a more important target. Satya Nadella having more money than me doesn't make my life worse; I'm more concerned about the availability of jobs, food, housing, etc. That said, CEO salary does strike me as strange. Who needs 8 million per year + stock? I'd think more CEOs would voluntarily take a pay cut.
In the time it takes someone working minimum wage to make enough to afford a single $0.25 gumball, Sundar Pichai makes enough to afford an Apple Vision Pro ($3500) plus tax.
People like to talk about inequality but absolute poverty seems like a more important target. Satya Nadella having more money than me doesn't make my life worse; I'm more concerned about the availability of jobs, food, housing, etc. That said, CEO salary does strike me as strange. Who needs 8 million per year + stock? I'd think more CEOs would voluntarily take a pay cut.
> Satya Nadella having more money than me doesn't make my life worse; Are you sure about that? What if he spends that money supporting political figures and economic policies that make your life worse?
I mean have a conversation about the wage gap sure but know that these numbers are not meaningful as it regards the US.
Where did you get this data?
And, out of curiosity, what percentage of people are within, say, $0.50/hr of minimum wage?
Earlier quoted context omitted.
c) the minimum amount required to live peacefully and with dignity.
While it's repeated ad nauseam, this was the intended purpose of the minimum wage, as quoted by FDR who signed the minimum wage into law: “It seems to me to be equally plain that no business which depends for existence on paying less than living wages to its workers has any right to continue in this country. By "business" I mean the whole of commerce as well as the whole of industry; by workers I mean all workers, th…
The minimum wage should be scrapped. It either a) prevents people who are happy to work for less obtain a job which is uneconomical at the minimum wage, or b) it creates an effect similar to communism, where everyone doing a job at or below a certain value gets paid the same, no matter what the value of their work is. This leads to the higher quality workers reducing their output, as they are only getting the paid th…
> people who are happy to work for less I wonder where are these people. Do you know any? Would you be "happy" to work for less than minimum wage? > it creates an effect similar to communism Sure, gommunism is when minimum wage. Most of Europe is in fact gommunist today, while its bourgeoisie gets richer and richer by the year.
I'd wager that the number of people who are truly content doing this work as opposed to a higher-paying job is effectively zero. That is to say, a number of people so low that it is irrelevant.