Adventurous-Text-680 t1_j5s2xim wrote on January 25, 2023 at 4:01 AM

Reply to comment by trevor32192 in CEO pay has skyrocketed 1,460% since 1978: CEOs were paid 399 times as much as a typical worker in 2021 by sillychillly

I am confused because you literally mentioned that companies should limit CEOs compensation based on the lowest paying wage. I am mentioning that would not have the intended effect of reducing compensation and potentially create incentive to reduce low wage employees by outsource when possible making what your are suggesting pointless.

You can't increase pay for low wage employees unless you increase the minimum wage. That is what increases pay to ensure a livable wage not trying some round about way to limit ceo compensation.

You would be surprised to know that not all companies have enough money to keep all their employees and us why we are seeing layoffs. The problem you don't seem to understand is liquidity.

trevor32192 t1_j5t0dud wrote on January 25, 2023 at 10:29 AM

Lol it doesn't limit Ceo pay it keeps a ratio. Raising the minimum wage is good until we dont do it for 30 years, and it massively falls behind.

If your company has to rely on keeping its employees in poverty, then it should fail.

Adventurous-Text-680 t1_j5thnoz wrote on January 25, 2023 at 1:34 PM

You don't seem to get it.

People are willing to work low paying jobs because there will always be someone willing to work for less. Low skill jobs have a lower floor. Look at Uber drivers. Many barely make profit after you include wear and tear on their vehicle along with fuel costs. In fact, Uber eats to great then as independent contractors so they aren't even employees and dont have the same protection.

You seen to simply not understand the world. Do you really think it would be easier to pass a law limiting CEO pay by the lowest wages employee than a minimum wage increase?

You are being optimistic about how companies would get around such a law. Low waged workers will likely become contractors or the law will become average pay because no one would accept restricting one person's compensation based on someone else's compensation. It doesn't necessarily increase pay for low wage workers like you think.

It's better to actually directly help those that need to have their wage increased.

Plus what happens if you have part time employees? They get paid a lower compensation due to no health care and less vacation. Now you can't have that either which means seasonal help also becomes tough to hire depending on how the your proposed law determines "minimum compensation".

trevor32192 t1_j5ucrrh wrote on January 25, 2023 at 5:05 PM

This isnt rocket science. The minimum wage is just as difficult to pass aparently because it hasn't budged in 30 years.

Adventurous-Text-680 t1_j5uslak wrote on January 25, 2023 at 6:41 PM

False

https://www.dol.gov/agencies/whd/minimum-wage/history

> The 2007 amendments increased the minimum wage to $5.85 per hour effective July 24, 2007; $6.55 per hour effective July 24, 2008; and $7.25 per hour effective July 24, 2009. A separate provision of the bill brings about phased increases to the minimum wages in the Commonwealth of Northern Mariana Islands and in American Samoa, with the goal of bringing the minimum wages in those locations up to the general federal minimum wage over a number of years.

States are free to increase minimum wage as well and many do regularly.

https://www.paycor.com/resource-center/articles/minimum-wage-by-state/

The problem is that minimum wage usually doesn't mean livable wage and livable wage is very different based on the local cost of living for the area. NYC and DC need higher living wages than say some rural town in Alabama. It's why the federal minimum doesn't change as often.

So let's not pretend that minimum wage hasn't increased in 30 years when it's not even true federally let alone for many states. Especially when a significant portion have much higher minimum wage (some twice as much or more).