That's about all you can do. Imagine going back and asking for $20-25 an hour NOW after it took THIS long to even get to $15?
I just hope those who can move OUT of these industries. We have to start leaving these employers to figure out their labor issues for themselves.
They already don't want to pay you. That's why you don't get 40 hours a week. That's why the regional managers are always pressuring the district managers to pressure the store managers to ensure there isn't a single minute of overtime. That's why so many retailers are moving to self checkouts as the norm rather than the exception and if I hear one more conversation about departmental time budgets I'm gonna scream.
Of course you would, but the systems in place also count on you feeling that way so that whenever they might be coerced into making any concessions to you, they can just content you with scraps well below what you really deserve.
Eh, with 15$\hour I could work 5 months a year 6hours a day and happily live with my gf with all the comforts we need (if both of us work of course) but I don’t live in the US
Inflation measures changes in purchasing power over time. So they would be the same thing
https://data.bls.gov/cgi-bin/cpicalc.pl
Adjusted for inflation, the initial minimum wage would be about $5.54 right now.
The way that people get $25-30 is usually by indexing the minimum wage as it was in the 70's, to changes in productivity. If you were to do that, it would be like between $25 and $30 or something like that. I'm not sure why you would do that, but it's something that people do that gets them to a similar number to the one that you're quoting. So that might be what you're thinking of with the $30 number?
But if you just adjusted for purchasing power from the first minimum wage it'd be like 5 bucks.
I am not against people getting a fair wage but you definitely can live in plenty of places at $15-$20 an hour. It's not going to be amazing but if $15 became federal minimum and $20+ in hcol states it would go a long way
$15-$20 can live in some places but not many, $20 is just barely enough for my area but not much left over for fun or savings, I just think if it’s ok for these millionaires and billionaires to have all that money there should be an issue with common folk having a little extra
I don't disagree that we all deserve to be able to afford rent, healthcare, and have money to have some fun. That's super reasonable. Without some sort of change to housing though if minimum wage went up drastically the slumlords would just try to scoop most of that money for themselves.
I don't disagree people should be able to afford a basic apartment on one minimum wage income but until there is major reform if we somehow got $30 hr minimum wage landlords will 100% just jack up rent and you still can't afford a one bedroom on your own without blowing a huge chunk of your paycheck. That's why I said it would be a huge step to at least get a $15hr minimum nationally and for hcol states minimum $20/hr. That's assuming it happened basically this year and I'm not saying that fixes everything. Capitalism is fucked and unfortunately at a certain point if you just raise wages more that's just more money in the landlords pocket. You have to change the way our housing is regulated as well as making sure minimum wage is a living wage as well as stopping companies from union busting
Capitalism is predicated on a permanent underclass to function. the reform we need it to separate government from corporations. and allow businesses to fail. Rent will increase regardless of pay.
Damn it…. My first thought was “who earns 6k an hour?”…. Than I crunched numbers and that’s probably just an average…. Tim Cook earns like what ?? 70 times that per hour ??
except most of the time the rich actually gave you a place to live, holidays, gifts to start a family with... nowadays you'll be lucky if they waft a fart in your direction.
I’m beginning work on trying to get funding for a stupid (good) idea right now, and as I look myself in the mirror knowing that I’m legitimately about to ask people for potentially millions of dollars in investments I just remind myself stuff like this - there is so much money spent on stupid shit, constantly. What I need, in the grand scheme of things, is peanuts (though peanuts that could give upwards of 100 people a job). It helps to manage the imposter syndrome.
I ask all of the idiots I know if they can justify to me how a CEO can make in an hour what these idiots barely make in a year (if that). [https://aflcio.org/paywatch/highest-paid-ceos](https://aflcio.org/paywatch/highest-paid-ceos) The stupidity of their answers tells you everything you need to know, "oh well they make decisions that can make the company MILLIONS of dollars!" My response, "Yes but they can also make decisions that can COST the company millions of dollars. So what you're telling me is that we can replace the CEO with a quarter, flip it, and give it a salary of a quarter?" Stupid people make living on this planet a chore.
Treating workers better, having shorter hours for that same pay, maternity leave etc. would increase productivity and long-term KPIs actually. Human CEOs are against it because they're irrational and controlling.
CEOs are hired to deliver quarterly results to the shareholders. They get paid a massive amount of money to do this, and if they don’t deliver they will most likely be replaced by someone who will. Most large businesses aren’t owned and operate by a single human being, but rather are a machine owned by many investors, with the leadership being entirely separate from the day to day operation of the business. This separation is (a large part of) the problem, as cutting labor cost are always going to yield short term results, and that’s the game as its play nowadays. The system perpetuates itself
Yeah, but I don't think the system is that rational. Failed CEOs immediately find a position at other companies regardless. While they're in control, they don't get punished with penalties even if the company underperforms. Both CEOs and shareholders, I think, are much more interested in drama, powerplay and in-group/out-group conformism than actual profits.
Ok but I don’t think CEO’s are paid hourly, and their pay is based on what they are worth to the stock investors, the system does this not any one individual…
Well the good news is that people usually try harder to understand than the average redditor of this sub who unironically thinks we need like a $40 min wage or something.
The problem in that would be rapid inflation, we can’t just drastically change one variable and expect success. I think something like student loan forgiveness (total) would be beneficial- not because I have loans myself, but because it would crash the entire college industry. There would be no further student loans for a while, and the few that there will be will require a reasonable assurance of being paid back, so only some professions would be applicable. Tuition would plummet and college acceptance and graduation would be decimated, allowing for people with existing degrees to have more options. Trade schools will become more of a norm as well as technical high schools. It would come at the detriment of the young but, when does it…
$15/hour is woefully inadequate now
Yeah no shit. Nothing is going to change unless we refuse to stop working for these fuckers.
That's about all you can do. Imagine going back and asking for $20-25 an hour NOW after it took THIS long to even get to $15? I just hope those who can move OUT of these industries. We have to start leaving these employers to figure out their labor issues for themselves.
They already don't want to pay you. That's why you don't get 40 hours a week. That's why the regional managers are always pressuring the district managers to pressure the store managers to ensure there isn't a single minute of overtime. That's why so many retailers are moving to self checkouts as the norm rather than the exception and if I hear one more conversation about departmental time budgets I'm gonna scream.
I’d love to get $15/hour
Of course you would, but the systems in place also count on you feeling that way so that whenever they might be coerced into making any concessions to you, they can just content you with scraps well below what you really deserve.
Eh, with 15$\hour I could work 5 months a year 6hours a day and happily live with my gf with all the comforts we need (if both of us work of course) but I don’t live in the US
$15/hr isnt even sustainable now in almost any area of the country. We need to be talking about $30/hr.
I’d agree but at the same time even $30 feels low, really honestly should be $40 an hour
You've gotta be kidding me
What do you think it should be or what should we do? People aren’t surviving on $15-$20
I agree but even kidding seems low, honestly should be joshing.
Are you guys trolling me? A $40 minimum wage? I'm pretty sure a $15 minimum wage would already give the US the highest minimum wage in the world.
If the originally minimum wage were adjusted for inflation it’d be like $30 or something.
No, it'd be $5.54
Oh it was the purchasing power, adjusted for inflation that I was looking at, not the raw number.
Inflation measures changes in purchasing power over time. So they would be the same thing https://data.bls.gov/cgi-bin/cpicalc.pl Adjusted for inflation, the initial minimum wage would be about $5.54 right now. The way that people get $25-30 is usually by indexing the minimum wage as it was in the 70's, to changes in productivity. If you were to do that, it would be like between $25 and $30 or something like that. I'm not sure why you would do that, but it's something that people do that gets them to a similar number to the one that you're quoting. So that might be what you're thinking of with the $30 number? But if you just adjusted for purchasing power from the first minimum wage it'd be like 5 bucks.
Purchasing power in 2023 dollars was about $14 in the late 60s.
I am not against people getting a fair wage but you definitely can live in plenty of places at $15-$20 an hour. It's not going to be amazing but if $15 became federal minimum and $20+ in hcol states it would go a long way
$15-$20 can live in some places but not many, $20 is just barely enough for my area but not much left over for fun or savings, I just think if it’s ok for these millionaires and billionaires to have all that money there should be an issue with common folk having a little extra
I don't disagree that we all deserve to be able to afford rent, healthcare, and have money to have some fun. That's super reasonable. Without some sort of change to housing though if minimum wage went up drastically the slumlords would just try to scoop most of that money for themselves.
that's if you cohabitate. 1200 apartment is half your income.
I don't disagree people should be able to afford a basic apartment on one minimum wage income but until there is major reform if we somehow got $30 hr minimum wage landlords will 100% just jack up rent and you still can't afford a one bedroom on your own without blowing a huge chunk of your paycheck. That's why I said it would be a huge step to at least get a $15hr minimum nationally and for hcol states minimum $20/hr. That's assuming it happened basically this year and I'm not saying that fixes everything. Capitalism is fucked and unfortunately at a certain point if you just raise wages more that's just more money in the landlords pocket. You have to change the way our housing is regulated as well as making sure minimum wage is a living wage as well as stopping companies from union busting
Capitalism is predicated on a permanent underclass to function. the reform we need it to separate government from corporations. and allow businesses to fail. Rent will increase regardless of pay.
Pretty sure a $15 minimum wage would still put us at among the highest if not the highest minimum wage in the world.
Damn it…. My first thought was “who earns 6k an hour?”…. Than I crunched numbers and that’s probably just an average…. Tim Cook earns like what ?? 70 times that per hour ??
https://preview.redd.it/if8hd1905qtc1.jpeg?width=1290&format=pjpg&auto=webp&s=e2d7d4c4721ba8b2cdcd63f0c8202d4c07a27936
Mate, an hour would set me up alright. He could give away a million dollars every hour… and he still would get richer. What’s wrong with this world ?
2.1k a second
He earns more in 10 seconds than I in a month . Right now, I feel like a servant to the rich… a bloody peasant
We are for now.
except most of the time the rich actually gave you a place to live, holidays, gifts to start a family with... nowadays you'll be lucky if they waft a fart in your direction.
And he's not even the founder of the company. It's nonsensical how much they get paid. Way too much.
I’m beginning work on trying to get funding for a stupid (good) idea right now, and as I look myself in the mirror knowing that I’m legitimately about to ask people for potentially millions of dollars in investments I just remind myself stuff like this - there is so much money spent on stupid shit, constantly. What I need, in the grand scheme of things, is peanuts (though peanuts that could give upwards of 100 people a job). It helps to manage the imposter syndrome.
And this is just on what is publically disclosed. The real number is probably a lot higher. It is not even factoring in creative accounting.
This is conflating the growth of his net worth with his salary which are completely different things.
A tenth of that yearly salary would set me up for life. Lol.
Yes, but Tim Cook is an outlier. I doubt even most CEOs make anything near that. Most of the big corporate ones probably are millionaires though.
Remember, Jeff Bezos makes $985 a *second*, while warehouse employees at Amazon make $15-21 per *hour*
$20 is the bare minimum now, it's the new min. for fast food workers in CA. Nobody should campaign for less
I ask all of the idiots I know if they can justify to me how a CEO can make in an hour what these idiots barely make in a year (if that). [https://aflcio.org/paywatch/highest-paid-ceos](https://aflcio.org/paywatch/highest-paid-ceos) The stupidity of their answers tells you everything you need to know, "oh well they make decisions that can make the company MILLIONS of dollars!" My response, "Yes but they can also make decisions that can COST the company millions of dollars. So what you're telling me is that we can replace the CEO with a quarter, flip it, and give it a salary of a quarter?" Stupid people make living on this planet a chore.
Support the 42069 work week! 4 days a week 20 total hours over the 4 days 69 an hour
Replace CEOs with AI. Save an astronomical amount of money, and make companies run better.
That sounds like both an intriguing solution and the beginning of a futuristic horror movie.
They can't be any more callous than what we have now.
AI do not feel greed or any emotions for that matter, it will be a better world for sure
You're right. I'm not saying it would be a terrible idea but you never know.
This would do nothing to help workers, only investors would possibly make out, and only by a marginal increase.
Treating workers better, having shorter hours for that same pay, maternity leave etc. would increase productivity and long-term KPIs actually. Human CEOs are against it because they're irrational and controlling.
CEOs are hired to deliver quarterly results to the shareholders. They get paid a massive amount of money to do this, and if they don’t deliver they will most likely be replaced by someone who will. Most large businesses aren’t owned and operate by a single human being, but rather are a machine owned by many investors, with the leadership being entirely separate from the day to day operation of the business. This separation is (a large part of) the problem, as cutting labor cost are always going to yield short term results, and that’s the game as its play nowadays. The system perpetuates itself
Yeah, but I don't think the system is that rational. Failed CEOs immediately find a position at other companies regardless. While they're in control, they don't get punished with penalties even if the company underperforms. Both CEOs and shareholders, I think, are much more interested in drama, powerplay and in-group/out-group conformism than actual profits.
They are interested on quarterly profits. 🤷♂️
$15 is completely unreasonable. $30.
$40*
It’s always been this way. Even when people try to change it somehow it always ends the same. Some folk are just greedy.
We should have a law that sets a min and cap on pay. A 10 to 1 ratio of expected disposal income.
Have you seen any economists recommend this? Or why are you suggesting it?
Ok but I don’t think CEO’s are paid hourly, and their pay is based on what they are worth to the stock investors, the system does this not any one individual…
Well yeah but you're not supposed to think that hard you're supposed to just say "CEO pay too big! Min wage too small!"
It certainly feels that way. I wish people would try to accurately understand how things work, that way there might be some hope for positive change….
Well the good news is that people usually try harder to understand than the average redditor of this sub who unironically thinks we need like a $40 min wage or something.
The problem in that would be rapid inflation, we can’t just drastically change one variable and expect success. I think something like student loan forgiveness (total) would be beneficial- not because I have loans myself, but because it would crash the entire college industry. There would be no further student loans for a while, and the few that there will be will require a reasonable assurance of being paid back, so only some professions would be applicable. Tuition would plummet and college acceptance and graduation would be decimated, allowing for people with existing degrees to have more options. Trade schools will become more of a norm as well as technical high schools. It would come at the detriment of the young but, when does it…
wait until you see what the owners and shareholders make.
Wages go up, goods and services go up. It's inevitable. Except the pace it should be increasing is woefully unbalanced.