Is this comparing apples to oranges? Wall Street bonuses typically refers to bankers and not necessarily the executives of the companies who employ the minimum wage earners. If that is the case, you can't compare the two for the sake of the argument he is trying to make. Instead, you have to add up only the bonuses of the executives who employ the minimum wage earners (which means there will be a lot of small businesses whose owners did not receive bonuses) and compare those numbers. It is probably still out of whack but it seems that would be a more fair and reasonable thing to do.
A lot of those bonuses are going to fund managers and bankers who don't employ anybody, or they employ people above minimum wage. You also have to consider that many of them do in fact employ people well above minimum wage themselves, thus he is presenting an incomplete picture. It could well be that not one of those New York Exec's employs a single person at minimum wage, but they are manipulating the data by not presenting a full picture. I think the guy presents a rather narrow view in order to sell his point and I don't really agree with that kind of tactic. It is dishonest. Those Exec's could very well be a part of the solution, rather than a part of the problem but we can't know based on the information presented.
While income inequality is a rather flashy subject, I am of the general opinion that if you wish to earn as much as said Wall Street exec's, then mayhaps one should pursue that job rather than complaining about how little one gets paid for wherever they work. I'm not trying to be heartless and my wife and I make less than most, but we are happy, and take steps to increase our wealth when we feel the need by the multiple means available in this country.
I also believe what you both say. I am a former business owner, (9yrs), I understand what it is to step out on a limb and gamble your life savings to make your dreams come true. Some things that maybe are being missed are these, 1-I think that they are just stating that the bonuses are greater then all combined min wage earners. Not stating that these people do not hire people with higher then min wage. 2-Wall Street and big banks were bailed out by our government, by both repulsicans and dumbasshats alike, it wan't one or the other. 3-The greed of the few is making things suck for the masses. How? They want and need more money in their pockets. They do this by raising prices and building things to become outdated and to be throways. I am all for making money. I am a prime example of a person that has come from a poor, poor, poor family and have created a life for myself and my family. However, at some point, we as humans need to think about people, and not just us and our immediate family. We need to think about the human race. Just how many millions of dollars do we need to have a very comfortable and plush life? Much less a live of contentment? Exp---why the heck do pro sports players get millions of dollars to play a freakin game??? Silly! Then to pay them the jack the price of addmission up. So now few can afford to take your family to a pro event. Movies---For the life of me I can't figure this out. Why are idiots paid millions of dollars to act, pretend, play make believe????? Have we collectively gone insane? And thats not all, we pay these jack asses a butt load of money and then listen to them tell us that we need to change, and that we need to give more money away, and that we need to sacrifice, yet they continue to leach more from us at the window. And we continue to drink the Kool-aid. I remember my dad telling me stories of how he would go to the movies with a quarter and get soda and popcorn and come home with change. Good grief, nowadays to take my family to a movie(and we only go to matinee, & splitting drinks and popcorn) with soda and popcorn is 60-65$. Why? So that people can get great big bonus checks! I understand that some of this is on me, and I have taken steps. I am back in school to become a Dr, oh, that is only a 250K debt I am building up for when I finish. But I believe in capitalism, and believe that I can not only pay this off but still help my kids. However, I don't plan to rape people to do it. And I believe that that is the cornerstone of my thoughts, we don't need to rape people to have a good life. I am not saying that I want to take your money and give it to anyone, I am just saying, that we should not have to give money to large institutions just so that they can continue to give it to us where the sun doesn't shine. Wow, this probably came across as I am an angry bitter man, sorry. I am not. And, thanks for taking the time to watch and to comment.
I don’t disagree with you Robochess. My original comment was geared toward how it was being presented in the video. He was not making a fair comparison to support his claim about minimum wage. I came across more as propaganda to support an opinion. Taking from the rich to give to the poor sounds noble but also comes with a host of problems (welfare for example).
The classic dilemma of the “haves and have-nots” has been around since the dawn of man. There is no question some people make too much and many make too little. Some work hard for their wealth and others do not. Likewise, some don’t work hard enough to earn minimum wage while others work hard enough to make double.
I completely agree that actors, musicians, athletes, etc. are paid far too much for what they do. However, that is basic supply and demand. As long as there are enough people willing to dish out the money to those individuals, then the prices will continue to rise. I have all but stopped going to the movies, sporting events, concerts, etc. because I simply won’t support those individuals. If the masses did the same, the law of economics would make the prices come down.
Raising minimum wage is very similar. If you raise wages, you have to raise prices, even for the most basic of items (food, water, shelter, etc.). Eventually, those prices rise enough to offset the effect of the minimum wage increase and we are back to square one again. It is finding the balance that has puzzled economists for decades. I certainly do not know the answer.
I think we do agree on much. I also am not a fan of raising min wage to 10$ or higher.what planet do these politicians hail from? That they think that they can force people to raise the largest portion of any business p&l and think that prices wont go up? Sometimes you just wonder about people.
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Razorback 10 years, 8 months ago
Is this comparing apples to oranges? Wall Street bonuses typically refers to bankers and not necessarily the executives of the companies who employ the minimum wage earners. If that is the case, you can't compare the two for the sake of the argument he is trying to make. Instead, you have to add up only the bonuses of the executives who employ the minimum wage earners (which means there will be a lot of small businesses whose owners did not receive bonuses) and compare those numbers. It is probably still out of whack but it seems that would be a more fair and reasonable thing to do.
Reply
Titanheart 10 years, 7 months ago
As usual I would have to agree with Razorback.
A lot of those bonuses are going to fund managers and bankers who don't employ anybody, or they employ people above minimum wage. You also have to consider that many of them do in fact employ people well above minimum wage themselves, thus he is presenting an incomplete picture. It could well be that not one of those New York Exec's employs a single person at minimum wage, but they are manipulating the data by not presenting a full picture. I think the guy presents a rather narrow view in order to sell his point and I don't really agree with that kind of tactic. It is dishonest. Those Exec's could very well be a part of the solution, rather than a part of the problem but we can't know based on the information presented.
While income inequality is a rather flashy subject, I am of the general opinion that if you wish to earn as much as said Wall Street exec's, then mayhaps one should pursue that job rather than complaining about how little one gets paid for wherever they work. I'm not trying to be heartless and my wife and I make less than most, but we are happy, and take steps to increase our wealth when we feel the need by the multiple means available in this country.
Reply
Robochess 10 years, 7 months ago
I also believe what you both say. I am a former business owner, (9yrs), I understand what it is to step out on a limb and gamble your life savings to make your dreams come true. Some things that maybe are being missed are these,
1-I think that they are just stating that the bonuses are greater then all combined min wage earners. Not stating that these people do not hire people with higher then min wage.
2-Wall Street and big banks were bailed out by our government, by both repulsicans and dumbasshats alike, it wan't one or the other.
3-The greed of the few is making things suck for the masses. How? They want and need more money in their pockets. They do this by raising prices and building things to become outdated and to be throways.
I am all for making money. I am a prime example of a person that has come from a poor, poor, poor family and have created a life for myself and my family. However, at some point, we as humans need to think about people, and not just us and our immediate family. We need to think about the human race. Just how many millions of dollars do we need to have a very comfortable and plush life? Much less a live of contentment?
Exp---why the heck do pro sports players get millions of dollars to play a freakin game??? Silly! Then to pay them the jack the price of addmission up. So now few can afford to take your family to a pro event. Movies---For the life of me I can't figure this out. Why are idiots paid millions of dollars to act, pretend, play make believe????? Have we collectively gone insane? And thats not all, we pay these jack asses a butt load of money and then listen to them tell us that we need to change, and that we need to give more money away, and that we need to sacrifice, yet they continue to leach more from us at the window. And we continue to drink the Kool-aid. I remember my dad telling me stories of how he would go to the movies with a quarter and get soda and popcorn and come home with change. Good grief, nowadays to take my family to a movie(and we only go to matinee, & splitting drinks and popcorn) with soda and popcorn is 60-65$.
Why? So that people can get great big bonus checks!
I understand that some of this is on me, and I have taken steps. I am back in school to become a Dr, oh, that is only a 250K debt I am building up for when I finish. But I believe in capitalism, and believe that I can not only pay this off but still help my kids. However, I don't plan to rape people to do it. And I believe that that is the cornerstone of my thoughts, we don't need to rape people to have a good life. I am not saying that I want to take your money and give it to anyone, I am just saying, that we should not have to give money to large institutions just so that they can continue to give it to us where the sun doesn't shine.
Wow, this probably came across as I am an angry bitter man, sorry. I am not. And, thanks for taking the time to watch and to comment.
Reply
Razorback 10 years, 7 months ago
I don’t disagree with you Robochess. My original comment was geared toward how it was being presented in the video. He was not making a fair comparison to support his claim about minimum wage. I came across more as propaganda to support an opinion. Taking from the rich to give to the poor sounds noble but also comes with a host of problems (welfare for example).
The classic dilemma of the “haves and have-nots” has been around since the dawn of man. There is no question some people make too much and many make too little. Some work hard for their wealth and others do not. Likewise, some don’t work hard enough to earn minimum wage while others work hard enough to make double.
I completely agree that actors, musicians, athletes, etc. are paid far too much for what they do. However, that is basic supply and demand. As long as there are enough people willing to dish out the money to those individuals, then the prices will continue to rise. I have all but stopped going to the movies, sporting events, concerts, etc. because I simply won’t support those individuals. If the masses did the same, the law of economics would make the prices come down.
Raising minimum wage is very similar. If you raise wages, you have to raise prices, even for the most basic of items (food, water, shelter, etc.). Eventually, those prices rise enough to offset the effect of the minimum wage increase and we are back to square one again. It is finding the balance that has puzzled economists for decades. I certainly do not know the answer.
Reply
Robochess 10 years, 7 months ago
I think we do agree on much. I also am not a fan of raising min wage to 10$ or higher.what planet do these politicians hail from? That they think that they can force people to raise the largest portion of any business p&l and think that prices wont go up? Sometimes you just wonder about people.
Reply