This is why we need a living wage

[sameech]

Just for fun, I looked at the 100 richest CEO list. In 2012, JP Morgan's CEO got $18,717,013 in total compensation (100 Highest Paid CEOs). JP Morgan has 222,316 employees whose average income is $56K (Number of J.P.Morgan Employees | Number Of | How Many).

If the CEO made zero money that he otherwise steals from his workers and gave all that equally to his employees, they would each be able to live like kings on the $84.10 per year pay raise they would receive. Yep, that $7.02 cents a month would make all the difference between those median household income level workers living or dying.

 

[CitizenSeven]

Nothing is monetarily worth anything save what someone is willing to pay. Similarly, no job is worth anything save what someone is willing to pay. The aggregate average for all such bilateral transactions is called "the market rate". It is arrived at via many freely chosen agreements between two parties.

That's why walmart workers and fast food workers make so little: literally anyone could do those jobs, so the labor pool is very competitive and hence little leverage in bargaining. If someone wants a "living wage", they need to earn it by developing more sought after skills and not coast in jobs more suitable for teenagers earning beer and gas money.

 

[Ernie S.]

Just for fun, I looked at the 100 richest CEO list. In 2012, JP Morgan's CEO got $18,717,013 in total compensation (100 Highest Paid CEOs). JP Morgan has 222,316 employees whose average income is $56K (Number of J.P.Morgan Employees | Number Of | How Many).

If the CEO made zero money that he otherwise steals from his workers and gave all that equally to his employees, they would each be able to live like kings on the $84.10 per year pay raise they would receive. Yep, that $7.02 cents a month would make all the difference between those median household income level workers living or dying.

Walmart CEO makes $35 million. Walmart has 2 million employees. That would amount to $17.50/employee.

 

[KissMy]

Just for fun, I looked at the 100 richest CEO list. In 2012, JP Morgan's CEO got $18,717,013 in total compensation (100 Highest Paid CEOs). JP Morgan has 222,316 employees whose average income is $56K (Number of J.P.Morgan Employees | Number Of | How Many).

If the CEO made zero money that he otherwise steals from his workers and gave all that equally to his employees, they would each be able to live like kings on the $84.10 per year pay raise they would receive. Yep, that $7.02 cents a month would make all the difference between those median household income level workers living or dying.

JPM makes about $30 billion in profits. That is $135k per employee above their current pay.

 

[BobPlumb]

Just for fun, I looked at the 100 richest CEO list. In 2012, JP Morgan's CEO got $18,717,013 in total compensation (100 Highest Paid CEOs). JP Morgan has 222,316 employees whose average income is $56K (Number of J.P.Morgan Employees | Number Of | How Many).

If the CEO made zero money that he otherwise steals from his workers and gave all that equally to his employees, they would each be able to live like kings on the $84.10 per year pay raise they would receive. Yep, that $7.02 cents a month would make all the difference between those median household income level workers living or dying.

JPM makes about $30 billion in profits. That is $135k per employee above their current pay.

And how many thousands/millions of shareholders get a chuck of that 30 billion in profits. Or do the owners of JPM have any claim on the profits that they want the company to maximize?

 

[alan1]

Technically, they are restaurants. In practice, they are a vending machine.
I'd never ask a date to go to a restaurant with me, then take her to fast food such as a McDonalds. That would be like asking a date to the movies then whipping out my cellphone and streaming a movie on it. Technically, I still showed her a movie. But it is still just as lame as calling McDonalds a restaurant.
The bonus is, nobody was paid an "unfair" wage for my phone streaming movie. Unlike the person trying to sell me over priced popcorn at the movie theater.

Is your cellphone manufactured either in the US or by people making more than $7.25 an hour overseas?

I don't care.
I bought the phone because I like it. The origin and the salary of the people making it matter not to me. It does what I want it to do at a price that I am willing to pay.
It's not that much different from the ethnographic articles that I collect. I buy what I like when I think it is a fair price. For example, the Masai shield I have hanging on my wall was made by some tribal warrior that didn't get paid shit for making the shield. He made it to protect his ass from arrows coming from some other tribe that was trying to kill him. It's well over a hundred years old. I acquired it because I like it, not because I need a shield. I don't need a cellphone either, but I like having one.

Do you take your date to McDonalds and tell her it is a restaurant outing? Do you call viewing movies on a device 'going to the movies'?
I answered your questions, will you answer mine?

 

[alan1]

If it bothers you so much, feel free to become a CEO. Pay your employees more and pay yourself less. Nobody is stopping you.

 

[GHook93]

I seriously have no idea how some one makes it on $15 an hour! I guarantee once they get $15 per hour, they will say I can't make it we need $20!!!


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[sameech]

I don't care.
I bought the phone because I like it. The origin and the salary of the people making it matter not to me. It does what I want it to do at a price that I am willing to pay.
It's not that much different from the ethnographic articles that I collect. I buy what I like when I think it is a fair price. For example, the Masai shield I have hanging on my wall was made by some tribal warrior that didn't get paid shit for making the shield. He made it to protect his ass from arrows coming from some other tribe that was trying to kill him. It's well over a hundred years old. I acquired it because I like it, not because I need a shield. I don't need a cellphone either, but I like having one.

Do you take your date to McDonalds and tell her it is a restaurant outing? Do you call viewing movies on a device 'going to the movies'?
I answered your questions, will you answer mine?

I will take my dates wherever they want to go and sure, i throw them my cellphone and a bag of microwave popcorn and call it going to the theater

 

[sameech]

JPM makes about $30 billion in profits. That is $135k per employee above their current pay.

Well if we want to compare the incomes of people who have rights to revenue to those who don't even buy stock, why not talk about the Obamas income in relation to a homeless person now that the "CEO's steal from the workers" meme is failing?

 

[KissMy]

I seriously have no idea how some one makes it on $15 an hour! I guarantee once they get $15 per hour, they will say I can't make it we need $20!!!

They are all on the Government Dole eating my earnings taxes by causing higher inflation & taxes.

Why must I continue to pay for another companies workers when I already pay my own workers & I do not shop their store. Government is forcing me to subsidize my competition. They need to force them to pay their own way & get out of my pockets. They are causing inflation.

 

[HereWeGoAgain]

Just for fun, I looked at the 100 richest CEO list. In 2012, JP Morgan's CEO got $18,717,013 in total compensation (100 Highest Paid CEOs). JP Morgan has 222,316 employees whose average income is $56K (Number of J.P.Morgan Employees | Number Of | How Many).

If the CEO made zero money that he otherwise steals from his workers and gave all that equally to his employees, they would each be able to live like kings on the $84.10 per year pay raise they would receive. Yep, that $7.02 cents a month would make all the difference between those median household income level workers living or dying.

JPM makes about $30 billion in profits. That is $135k per employee above their current pay.

What about the stock holders? The cost of overhead? It appears that you want to just distribute all profits among the employees.

 

[KissMy]

What about the stock holders? The cost of overhead? It appears that you want to just distribute all profits among the employees.

The cost of overhead?

LOL - You don't even understand that profit is after all cost overhead has been paid.

You are not even smart enough to discuss complex issues like subsidies.

 

[HereWeGoAgain]

What about the stock holders? The cost of overhead? It appears that you want to just distribute all profits among the employees.

The cost of overhead?

LOL - You don't even understand that profit is after all cost overhead has been paid.

You are not even smart enough to discuss complex issues like subsidies.

So where is this money? In the CEO's mattress?

 

[HereWeGoAgain]

What about the stock holders? The cost of overhead? It appears that you want to just distribute all profits among the employees.

The cost of overhead?

LOL - You don't even understand that profit is after all cost overhead has been paid.

You are not even smart enough to discuss complex issues like subsidies.

And it appears you're lying....
JPMorgan Gross Profit vs Profit Margin

 

[Crystalclear]

What about the stock holders? The cost of overhead? It appears that you want to just distribute all profits among the employees.

The cost of overhead?

LOL - You don't even understand that profit is after all cost overhead has been paid.

You are not even smart enough to discuss complex issues like subsidies.

And it appears you're lying....
JPMorgan Gross Profit vs Profit Margin

Gross profit is before the overhead costs have been paid. The real profit is what remains after all the costs have been paid (including wages of the employees). The profit is is distributed to the shareholders and some profit is retained in the company for future investments.

 

[KissMy]

What about the stock holders? The cost of overhead? It appears that you want to just distribute all profits among the employees.

The cost of overhead?

LOL - You don't even understand that profit is after all cost overhead has been paid.

You are not even smart enough to discuss complex issues like subsidies.

And it appears you're lying....
JPMorgan Gross Profit vs Profit Margin

JPMorgan Gross Profit was $96,381,000,000

 

[priceless]

Unfortunately, I think food stamps and other non-monetary compensation protects low-wage workers from predatory lending. Because these people often feel they have so little to lose, they are more eager to enter into exploitative loans thinking that surviving today is more important than whatever consequences may be levied against them in the future.

If predatory lending could somehow be prohibited, wages would automatically go up because there would be less desperate competition for jobs at low wage levels. Black market activity is almost impossible to control, though, so there are always going to be people who lend their 'friends' money derived from whatever source, licit or illicit, and then torture and/or enslave them to get it back with interest, even if it's just by pushing them to get more hours at Walmart or a 2nd (or 3rd) job.

 

[Againsheila]

I seriously have no idea how some one makes it on $15 an hour! I guarantee once they get $15 per hour, they will say I can't make it we need $20!!!


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Truth is, if mw had kept up with inflation, it would be over $16.00 an hour by now.

 

[Amelia]

I seriously have no idea how some one makes it on $15 an hour! I guarantee once they get $15 per hour, they will say I can't make it we need $20!!!


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Truth is, if mw had kept up with inflation, it would be over $16.00 an hour by now.

Using which year as the benchmark?