Millionaires worry about paying poor people to much

[Mystic Force]

https://www.cnbc.com/2021/05/22/wages-rise-at-the-fastest-pace-in-years-firms-profits-could-take-a-hit.html

 

I read this article having a real hard time going along with their clear sympathies of the author. Maybe a pandemic every so often helps boost the normal person wages, after all a side effect of the black death was a dramatic increase in wages and increased freedom for the peasants. 

Note: Not suggesting deliberately infecting a bunch of people for economic gain.

[Lighthouse]

I’m no economist but won’t this just mean inflation in the long run? Wages go up, small privateer companies have to match the larger companies to get staff in the door. The prices go up to pay for it, people just end up paying more for goods they always bought anyway and any pay rise is negated. Good for mortgage holders, bad for savers.

[Mystic Force]

Pay CEO less! Reduce inflation! Yeah I can get behind that message.

[Lighthouse]

8 minutes ago, Mystic Force said:

Pay CEO less! Reduce inflation! Yeah I can get behind that message.

Pay CEOs less so that the best ones p*ss off to another company, who will pay them more and in return make or lose billions of dollars. I’m sure shareholders will be queuing up to do that. Or would you prefer the government to set the wages of all workers?

[Mystic Force]

So....

when workers would like more money = problem

when CEO like more money = system working correctly

 

got it!

[Lighthouse]

4 minutes ago, Mystic Force said:

So....

when workers would like more money = problem

when CEO like more money = system working correctly

 

got it!

No, you can do whatever you like. If you want to set up a company and pay your staff more than your competitors, whilst paying your key decision makers less than all your competitors, then be my guest. 

[Raging Bull]

Pay those who make profitable long term decisions, keep those below them employed and have big responsibilities more money, that’s fair. 
 

Pay everyone on a much more equal scale across the board, not really. 
 

Having said this, I have started to see (Pre 2020) companies in my field start to do some interesting things, such as unlimited time off, no questions asked. 
 

The directors still ended up telling employees to go home and take time off because they realised that the employees had a mind set of not wanting to take the p*ss and be seen to pull their weight. 

Edited 22 May, 2021 by Raging Bull

[whelk]

The disproportionate rise in CEO pay should be of concern but you won’t find many on here who object. They are very subservient bunch in general and probably marvel at how great it is for trickledown economics.

it is a racket at the top table for sure but to be fair you only get there if incredibly talented and hard working.

[buctootim]

1 hour ago, Lighthouse said:

I’m no economist but won’t this just mean inflation in the long run? Wages go up, small privateer companies have to match the larger companies to get staff in the door. The prices go up to pay for it, people just end up paying more for goods they always bought anyway and any pay rise is negated. Good for mortgage holders, bad for savers.

That was trotted out by rich people and stock holders when Blair proposed a minimum wage back in the last century. It didn't happen. The minimum wage is still rising. It still doesnt happen  

Edited 22 May, 2021 by buctootim
quoted wrong post

[Lighthouse]

9 minutes ago, buctootim said:

That was trotted out by rich people and stock holders when Blair proposed a minimum wage back in the last century. It didn't happen. The minimum wage is still rising. It still doesnt happen  

None of my posts had anything to do with the minimum wage.

[buctootim]

4 minutes ago, Lighthouse said:

None of my posts had anything to do with the minimum wage.

Thats pretty odd since the post you responded too was all about minimum wages being raised.   

[Lighthouse]

7 minutes ago, buctootim said:

Thats pretty odd since the post you responded too was all about minimum wages being raised.   

Minimum wages and ‘the’ minimum wage aren’t the same thing. Big companies in the US are increasing their minimum wages to counter a short term labour shortage and maintain their own profits.

[buctootim]

Semantics. The UK minimum wage raised wages (who knew?) and it didn't cause inflation - contrary to the point you made.  

[Lighthouse]

It’s not semantics, they’re two completely different issues. The minimum wage is there to stop cowboy outfits from stuffing their warehouses and stores with Romanians and Bulgarians earning £1 per hour and to make sure you’re not just better off sat at home on the dole than actually doing a days work.

 

You're conflating people on minimum wage (7% of the UK working population) with a pay rise for anyone who’s not the CEO (basically 99% of the population).

[Jonnyboy]

5 hours ago, whelk said:

The disproportionate rise in CEO pay should be of concern but you won’t find many on here who object. They are very subservient bunch in general and probably marvel at how great it is for trickledown economics.

it is a racket at the top table for sure but to be fair you only get there if incredibly talented and hard working.

Dido Harding? 

[Fan The Flames]

The rights of the working population are never increased freely by those in control, but are won through protest or snatched in moments of world crisis.

[Ohio Saint]

All I know is that for that for last 20 years here, my pay has risen MUCH less than the cost of living while some billionaires are reaching the same status as som in the gilded age when they had no income tax.

[Mystic Force]

If you wait for the man to give you more you will be waiting a long time, you have to move company for that to happen normally.

[skintsaint]

5 hours ago, Mystic Force said:

If you wait for the man to give you more you will be waiting a long time, you have to move company for that to happen normally.

or start your own.

[Doctoroncall]

An isolated case which may not hold if replicated many times but an interesting tale. 

[rooney]

95% of shareholders in HSBC voted in favour of the Directors remuneration policy at the AGM yet the company is always being litigated against, the share price is poor, they have reduced the number of dividend payments and their salaries and bonus are obscene.

[OldNick]

you are going to see a natural rising of wages for workers. There is a labour shortage of people in the service industry and so companies will have to up their rates to get the staff.

Generally the consumer will see a increase in prices. Inflation around the corner. I suspect we've all noticed it in the supermarket. Add to that we have the increased costs of importing goods from the EU and that will add to the upward pressure to the £ in our pocket. 

Low inflation keeps things manageable, I would hate to see the pain of high inflation again. 

[whelk]

High inflation and corresponding increase in interest rates would fuck many home owners who ‘can’t go wrong’ borrowing as much as they can.

Sure  all the Brexiteers will be delighted and understanding having to wait longer to be served and pay more for a beer. 

 

[whelk]

On 29/05/2021 at 04:35, Doctoroncall said:

An isolated case which may not hold if replicated many times but an interesting tale. 

That is interesting and fair play to him. Extreme though.