Why can't the minimum wage be 20 an hour? I see these businessmen, super ultra rich, but they cannot afford to pay a living wage. Why?
- PubliusLv 76 months agoFavorite Answer
Piker. Why not $40 an hour?
The money has to come from somewhere, and businesses just can't make everybody rich.
- ibu guruLv 76 months ago
With a minimum wage of $20/hr, costs to employers will be at least $30-40/hr (remember Social Security & Medicare, unemployment insurance premiums, disability insurance premiums, costs of space/supplies/equipment for employees, sick pay, holiday pay, even coffee maker in the break room). With the increase in costs, an increase in prices is inevitable. In fact, every research study shows that within 12-18 months of any increase in minimum wage, inflation eats up the increase - for those remaining workers as the numbers of jobs is always cut.
- RebeccaLv 66 months ago
Minimum wage was never meant to support your life. It was meant to give teenagers and first-time job seekers experience in the workforce so that they could move on to bigger and better things, like bigger and better jobs and salaries.
To whom much is given, much is required. People who make high salaries, by and large, did not actually luck into their positions. They finished high school, went to college or trade school, learned a skill, and went to work at a minimum wage job. Then they worked hard and moved up the ladder, making more money along the way. With each new job came new responsibilities and requirements; i.e., because much was required, much was given.
Juxtapose that to the person who never goes on to learn a skill that requires actual knowledge of how to do something, like a doctor or an engineer, a plumber or electrician, just someone who floats through life going from one low-skilled job to the next. What has that person done to show that he is trustworthy with the responsibility of earning a higher-paying job? Nothing. In fact, quite the opposite.
Corporations do pay living wages, and they pay a lot more than that: Vacation time, sick time, PTO, 401ks, insurance, continuing education programs, even college tuition. Your problem is you believe the salary of the assistant, who files and types and answers phones, is somehow worth the same as the CEO who is responsible for the overall health of the corporation: Employees, benefits, future business. Having been an executive assistant myself for many years, I can tell you that neither my job nor my salary was ever worth the same as the CEO's.
Further, public companies are required by law to earn as much money for their investors as possible. Who is the investor? You are. Any person who has a retirement fund or IRA or 401k is the investor the corporation is making money for. Your retirement fund is invested into stocks and bonds of those public companies, and those stocks and bonds cause your retirement fund to grow so that you can retire. Or do you believe that all those companies just sprinkle fairy dust on your account?
When one can do what a businessperson does, then one will earn the salary that the businessperson does. But if one continually seeks low-skill, minimum wage jobs because that's all they know how to do, why should they earn more?
- ZirpLv 76 months ago
Where do you think CEO's bonuses and shareholders dividend comes from?
- How do you think about the answers? You can sign in to vote the answer.
- 6 months ago
odnlt treump makes at least a million dollars an hou to sit on his butt and eat hotdogs and cfast foot HAHA why cant he pay his pelple more than run his budinsesses
- dominickLv 56 months ago
That's not the way it works. You start a business start everybody off at 20 bucks see how long you stay in business. A business owner started somewhere he invested his time and maybe all he had his stuff was on the line his business grew he is in it to make money. He employs people they pay taxes people invest its called America and its worked. You can't tell people what to pay you just can't.
- Anonymous6 months ago
People like you aren't worth $3 dollars an hour, you just get in the way.
You would be worthless picking up litter on the side of the road.
- The TaxpayerLv 76 months ago
it has a great deal to do with initiative and work ethic. If someone thought what they were getting was worth 20 an hour, they'd pay it. On the flip side; Congress, behind closed doors, just voted themselves a raise. Nobody thinks what they do is worth it. Run for Congress.
- Anonymous6 months ago
There are numerous small businesses that can't afford to pay $20 an hour. So what will those businesses do instead? Why they will do the jobs they used to hire someone else for themselves, costing jobs to thousands.
- Anonymous6 months ago
you can ask for what ever you want ...................................