Do you earn enough money? Do you
deserve the amount of money you earn? There will always be questions about
money earned and money spent. It is the one area of life that is really unregulated
except for the least amount wage earners starting pay. Can you put a price on a
worker’s satisfaction? Well, the CEO of Gravity Payments took a massive pay cut
so all his employees could earn $70,000 per year. Can money buy happiness?
Well now he is being called Boss
of the Year. He is Dan Price the little known Seattle based company that
manages credit card payments that has only 120 people on his staff. So, was
this a publicity stunt? It looks like he is really concerned about his staff’s
welfare. We have never heard of anything like this from the well liked, well
known CEOs of famous corporations like Apple’s Tim Cooke, Starbucks Harold
Schultz or Amazon’s Geoff Protz. Do you
think they will follow this guy? I doubt it.
Why did he give every employee a
minimum salary of $70,000 dollars per year? He will be cutting his own million
dollar salary to just $70 grand. He calls it a Capitalists solution to the
problems of poverty. Here is a growing gap between the rich and the poor.
Congress is the first to be blamed by always granting tax gaps and incentives
to the rich and nothing to the poor. New Republican candidates are already
talking about more cuts to the poor in this country for the next presidential
election. Leigh Gallagher, the Assistant Managing Editor of Fortune Magazine
agrees that finally we are starting to see the outrage with the protests in
major cities demanding a $15 minimum wage from protesters.
American workers do not want to
be on food stamps and welfare but the typical American family does not consist
of 2 wage earners anymore. It is usually a Mom and her kids working a full time
low wage job struggling to survive. The fathers are not even in the picture and
if they are, it is a struggle to get child support payments out of them. Celebrities
like Gwyneth Paltrow has taken up the cause with her campaign to try to get by
with only $29 dollars for food a week to raise awareness. Income inequality is one of the greatest
issues of our time. While some states
have raised the minimum wages guidelines from $7.25 per hour, there are still
14 states that have not changed.
The anger of the poor will be
attacking the top one percenters of wealth soon. If they do not find a way to keep their
workers happy, they will soon have no workers and our system will collapse.
Nick Hanauer a rich Venture Capitalist is one of the few sending a warning to
his fellow rich guys to do something and do something soon. It is a catastrophe
for not only American families but for Democracy in general. The
tide may be slowly turning for the general public. Last June the city of
Seattle was the first to change their minimum wage to $15 per hour. Companies like Wall Mart, Target and Gap and
Costco have raised employees’ wages voluntarily and later this month, McDonald’ said for its company owned stores,
franchises excluded will raise it’s starting salary to $1 dollar above the
local minimum wage and give the workers the ability to have approved time off.
So, should CEO’s take personal
responsibility for the pay gap? Well, Congress isn’t doing anything about it.
So, yes, they should volunteer to have a happy workforce then they would be
happy with them. Please don’t play that happy song again. Just do it.
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