Why you don't set the minimum wage to $70K

[RolloTheGreat]

If employers want to clearly demonstrate that they are greedy, self-interested bastards who have no interest in helping the rest of society and only concern themselves with how rich they personally can get, that is fine by me.

You can clearly see profits skyrocketing while wages plummet in the first graph.

It won't end well for them.

Ah.

Do you realize your graph is like the PR graphs we get from companies to pimp products?

Look at how profits and wages both start as 48% o GDP and one rises 4% the other falls 4% over 12 years.

4%.

4% is "skyrocketing"?

I've just illustrated how this new minimum wage could easily mean a 50% decline in wages for business owners, there was no "There will be revolution!" for them. On the contrary, the response was more like "It's about time! No one deserves to make much money except people who currently don't!".

Take 4% over 12 years from the masses and it's "OMFG!! HEADS will roll! The workers will rise up, put the heads of CEOs on the mailbox as a warning to anyone who wants to earn a decent living! They must pay for their sins!".

Double standard much?

For a guy that makes $50K a year, that 4% means a $2K cut pre tax. Maybe enough money to get cable tv after tax.

For the business owner who used to make $100K, losing $52K would mean losing his house and car, because I guarantee you don't live in the same house, drive same car at $100K as you do at $48K. "No big deal! No problem! About time those bastards had to live like the middle class!" Right?



The ONLY people who think this makes any sense are those who want to be latter day Robin Hoods and steal from the rich, give to the poor.