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Some people get mad fast food workers are getting 15 dollars, but they have no problem with people making 600k for a 100k job. Amirite?

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@2088380

What's ridiculous is thinking there are jobs that require no skill, that the same opportunity to get an education exists for the poor, that the free market creates a fair distribution of wealth, that tax cuts pay for themselves with increased revenue and that trickle down works.

Why is it that when a poor person scams the system for a few bucks he's a moocher but when a rich person scams the system for millions he's a smart businessman.?

Usually it's the people who hire who get to set the price. If they think a job is worth $600,000 then they'll pay it. If they think it's worth $15 an hour, they'll pay that. Then other people can de die if they wNt those jobs.

@Caitlyn Usually it's the people who hire who get to set the price. If they think a job is worth $600,000 then they'll pay...

You just basically summarized the concept of the "free market". The economics of supply and demand will eventually determine the fairest prices for labor and products

Just for an amusing related anecdote, I worked a part time job while I was going to college for my first degree at the University of Michigan and they paid me the minimum wage: $1.40 an hour.biggrin smilie

goblue1968s avatar goblue1968 Yeah You Are +2Reply
@goblue1968 You just basically summarized the concept of the "free market". The economics of supply and demand will eventually...

Well, that's the way the world works. :) lol

That's a very minimum minimum wage. :) lol

@goblue1968 You just basically summarized the concept of the "free market". The economics of supply and demand will eventually...

"The economics of supply and demand will eventually determine the fairest prices for labor and products"

That's true in concept only because it has 3 impossible conditions.
It can only occur under perfect liberty with well educated consumers making rational choices.

The results of free market economics in the real world can be seen in places like Haiti and that's exactly the direction we're going after 35 years of Reaganomics.

@Caitlyn Usually it's the people who hire who get to set the price. If they think a job is worth $600,000 then they'll pay...

That is true, but only to a point. Consider CEOs. Their compensation is set by their companies' Board of Directors. Many of these boards are composed of current and former CEOs at other companies. So, it's not like their salaries are determined by a free and open market.

PhilboydStudges avatar PhilboydStudge Yeah You Are +1Reply
@PhilboydStudge That is true, but only to a point. Consider CEOs. Their compensation is set by their companies' Board of...

Actually, that particular example is its own kind of "mini" open market. The CEO compensations are competitive within their own particular industries or type of companies so that they attract the best talent for their particular companies' type of business.

goblue1968s avatar goblue1968 Yeah You Are 0Reply

I'm not sure that I understand the point that you are trying to make, fuzala, but besides that, how do you know what a 100k job is? If someone gets paid 600k, then the payer thinks that job is worth that or he wouldn't pay that much for it.

goblue1968s avatar goblue1968 Yeah You Are +2Reply

I'm not mad about fast food workers making 15 dollars an hour as much as it would greatly upset me that groceries, gas & everything else going up 2-3 times what it is now. People don't stop & think that they are not making more money when everything else goes up & swallows all that extra money, it's a no brainer if people would just think about it before getting too excited. JMO though.

@Ang98 I'm not mad about fast food workers making 15 dollars an hour as much as it would greatly upset me that groceries...

That's one way to look at it, but the trend I'm seeing is that when the lower or middle class make more, there's more outrage and when the upper class make more, people say they earned it or they don't even notice

fuzalas avatar fuzala Yeah You Are +1Reply
@fuzala That's one way to look at it, but the trend I'm seeing is that when the lower or middle class make more, there's...

that's because they are taking money out of the upper class' pocket, it hits them where it hurts, their wallet or profit margin, LOL! I"m lower class & that's how I look at it, it's not going to help them as much as they think it will.

Jobs like McDonalds are starter jobs, unless you want to move up in the company. Anyone working with food should have to wear hair nets and protective gloves.

People need to learn a trade or start their own businesses to earn more.

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@2088601

Only if paying $5 for that burger is proof that everyone is.
Relativity.

Oh I get all fired up when people are making 600k for a 100k job faster than I do the $15.00 an hour.

I think 15 dollars is reasonable, but I agree with people getting mad about stupid things like that

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