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Nuvendil on 25 May 2016
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WolfpackN64 said:
Nuvendil said:

Those specific numbers?  No.  But he is far, far more valuable in what he does.  Running a company that big?  99% of their employees couldn't do that.  Shoot, the vast majority of people in general can't.  Trust me, I've seen average people try to run small businesses and run them right into the ground.  Rarity of the skill required is a major factor in pay.  Anyone can do a standard crew member job.  Few can do a CEO or President's job.  And as I said in my post on the previous page (the really long one :P), all that money he makes is a tiny drop compared to the astronomical rise in payroll costs to pay everyone 15+. 

And no, technically inflation doesn't directly follow from increased wages.  But the practical effects thereof on the average man would occur:  cost of retail goods would go up as would general cost of living.  A $15 minimum wage would constitute an enormous rise in payroll costs for many companies, they must recoup that somewhere and it won't be from the executive salaries like many like to think.  The executives just don't make enough in most cases.

It's not because someone can run a company that that person deserves to get a much larger salary since he is still dependant on the people who actually perform the basic tasks at McDo. The CEO's wage is one thing. But the company has a very large managment and board of directors, all make considerably much more then the basic franchise workers. Not to mention the money that goes to shareholders, which all makes the wage hike look like a small drop in comparison.

And again, wage hikes do not raise prises. Only inflation does, and as long as your total monatary amount stays the same, nothing will change. If anything, the larger possability for consumption is beneficial to the general economy.

Buddy, the payroll hike would come to a minimum of over 10 billion dollars more per year.  3.9 falling directly on McDonalds, 9 billion spread across the franchises.  There's no way whatsoever that the pay of executives comes out the anywhere near that.  As for investors, that's a whole other issue entirely.

Your second assertion is flawed on it's face.  Low pay is part of how Walmart and McDonalds and such maintain their low prices.  Yes, there would be some increased consumption but that's not going to be evenly spread across all industries nor predictable or stable.  You cannot sit there and tell me that tens of billions of dollars in payroll costs being added to the economy will not effect prices.