We need a structured minimum wage based on how much money the company made. With a structured minimum wage, walmart would have a higher minimum wage then some mom and pop corner store.
A flat rate minimum wage creates an unfair playing field, with the large companies having the advantage.
Employees would be motivated to help make the company profitable, because their wages would be tired to how much money the company makes.
Except for small businesses, minumum wage should be a certain percentage of the total profits.
Companies like walmart that turn billions in profit would be forced to pay a liveable wage. If a company like walmart makes 20 billion in profit, they can afford to pay a higher wage then a mon-and-pop store that is barely turning a profit.
If Mcdonalds can turn a billion dollars in profit, there is no excuse for paying near poverty wages.
If walmart can turn a billion dollars in profit, there is no excuse for paying near poverty wages.
Simple minimum wage fix
Limit the pay of CEOs to a certain percentage of the lowest paid employee.
Lets use a CEO that makes 20 million a year, a simple minimum wage fix would be to force the company to pay a minimum wage of $200,000 a year. This way the CEO only makes 100X what the lowest paid employee makes.
I am tired of my tax dollars being used to subside companies like walmart. Why is the US having financial problems? Because companies like mcdonalds, walmart, lowes, best buy,,, can get away with paying their employees poverty wages.
Fortune 500 employer – even though we make a few billion in quarterly profits, we are going to pay you $8 an hour. I understand you have 2 children at home? You should be able to sign up on welfare and food stamps to subsidize your income.
Employee – are you sure you can not pay more then $8 an hour?
Fortune 500 employer – we need to make sure the CEO gets his Christmas bonus at the end of the year, and he wants a new private jet.
Free market is supposed to determine wages
That is fine and dandy, expect the US is not a free market.
We have millions of illegal immigrants who will work for a lower wage then most US citizens.
We have free trade with china. Labor cost get to high, close the plant and move overseas.
When the factory closes, the people have to be retrained, which a lot of them go into the service sector because the manufacturing jobs are gone. More people in the service sector means wages are driven down even more.
If we did not have 8% – 10% unemployment rate, and we did not have free trade, then yea, maybe then the market would determine what wages to pay.
Since the 1980s I have seen shipyards close, numerous welding shops close, people that once held metal working jobs are being forced into other job markets.
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