Quote Originally Posted by wallstreetcappers:
That is a good point..
And what you are suggesting is businesses are unable to pay a wage that actually provides a reasonable living and opportunity for a worker to save, plan and maybe even IMPROVE their situation.
What does that tell you? If people are unable to do some basic savings and live a moderate life, what happens to them? What happens when corporations change that balance and take money from labor and spend it on exec pay, stock buybacks and dividends, who benefits from those things?
Does the government step in to save corporations that dont want to pay their employees a wage they can not only live on but better their lives with? Are you going to be angry if the government has to fill that void and cover the discrepancy so corporations can keep buying back their shares, keep paying high exec salaries and keep their share prices at HISTORIC highs?
Its not difficult to see here...all the items I listed are not living high style, not going crazy...suggesting that people make a wage where they can save for retirement, invest in their families and build a backup in case of emergency is NOT living a luxurious life.
Not to be a nag but you didn't answer my question. Should all businesses be required to shut down if they can't pay a living wage? I don't want to put words in your mouth so I will let you answer.
If your answer is yes then we will start with most restaurants, discount stores, retail stores, tourism etc.........
If you answer is no the what is the solution?
The reason I am asking is because I don't know what the answer is. I hear arguments on both sides but I haven't heard an answer that fixes the problem.
It's easy to say pay a living wage and that sounds great but that also means higher prices across the board. Should ALL jobs be paid a living wage? A cashier atMcDonald's? A room cleaner at Holiday Inn? A dishwasher? A clerk at Wal Mart? Who would decide how much a job is worth?
On the other hand if people can't make enough money to live on they will get government assistance. We will continue to pay for these programs through higher taxes.
Once again, not being confrontational but just don't see an easy solution to the problem.