We've got to do something about it before we lose control. I'd love for the change to be led by the CEO's and millionaires themselves - let them do the right thing and create good paying, stable jobs. But I have no faith that they will.
What do you think, Gramps? Although we don't always agree, it's easy to tell you're one of very few on this board that thinks things through before picking a side. You don't seem to fall in with the partisans.
IMO, the Federal Minimum wage is not the problem. I think minimum wages should be a states issue. I am for a minimum wage, set by each state. It should be lower in Chattanooga, TN than it is in NYC or LA. Their is too much variance in the cost of living.
In East Tennessee $7.50 is okay, in NYC it is not. Most of the minimum wage jobs are for high school, college kids etc to make a few bucks.
The problem I see with the average blue collar worker is not the minimum wage, it is Employers have gone to using temp services for their workforce and overpay the CEO and upper tier.
Temp services are okay for professional jobs but they hurt the average working Joe. Men and women that were working for $14-20 per hour lost their jobs and had to go though temp services to find work. The problem is those jobs dropped from $14-20 per hour full time jobs to $8.50-10.50 per hour temp jobs. Most people live week to week, cut millions of people pay by 40-60% it leads to disaster
CEO pay has became ridiculous. According to Fortune the average CEO pay vs the average worker is 303 to 1. In 1965 it was 80 to 1.
In 1965, CEOs earned an average of $832,000 annually compared to $40,200 for workers. In 2014, CEO pay had risen to an average of $16,316,000 compared to only $53,200 for workers.
Not only is the CEO pay ridiculous they are rewarded for running the company into the ground. 2 that stand out to me are Home Depot and HP.
Carley Fiorina was fired as CEO of HP and walked away with 21 million bucks.
Bob Nardelli walked away with a 210 million severance package from Home Depot.
I am not against anyone making money. I like to make money but some of these large corporations have gotten out of hand, IMO.
As I hàve posted several times, pay your employees above average wages, make happy employees, happy employees tend to do a better job and stay with the company. Live good but also let your employees live. That is the way I always did business. That may be the old fashion way but it works.