$70,000 minimum wage: Sound economic decision or publicity stunt?

[$5 submissions]

This CEO of a company few have heard of announced that the MINIMUM wage for his company's staff will be 70,000 USD. Is it a publicity stunt or is he on to something?

Is it genius or crazy to introduce a $70,000-a-year minimum wage? - MarketWatch

Before you hate or laugh, understand the following FACTS

Fact 1: The median household income in the US (the middle class wage!) hasn't improved in 15 years Source: The American Middle Class Hasn?t Gotten A Raise In 15 Years | FiveThirtyEight

Fact 2: Henry Ford (a tech visionary in his time) shocked Corporate America when he doubled his minimum wage to $5 a day The Middle Class Took Off 100 Years Ago ... Thanks To Henry Ford? : NPR

[transbetty]

Henry Ford fulfilled his promis, him being a real psycho workaholic and a visionare.

Questions is, is that guy such a "caliber" ?

[BaldBastard]

Wouldn't 70k be the min already?

[Robbie]

I'm watching as people's wages are higher and prices get higher and higher over time...and meanwhile, we haven't been able to raise the price of a fucking porn membership in almost 20 goddamned years because of piracy.

And even at our STAGNANT rate, we can't sell it because of all the piracy.

We raised our price to $34.99 back in the beginning of 2008. But by 2009, had to drop it back.

[$5 submissions]

Originally Posted by Robbie

I'm watching as people's wages are higher and prices get higher and higher over time...and meanwhile, we haven't been able to raise the price of a fucking porn membership in almost 20 goddamned years because of piracy.

And even at our STAGNANT rate, we can't sell it because of all the piracy.

We raised our price to $34.99 back in the beginning of 2008. But by 2009, had to drop it back.

Inflation is definitely an issue. That's why I'm for the GOLD STANDARD. Inflation is going to be a bitch when all that funny money the Fed shit out during Quantitative Easing (notice that it didn't go into main street but Wall Street) floods the real economy. WHOO WHEE that Bubble Burst will be NAAASTY Right now, all that funny money is in equities markets and that's preventing the inflation disaster. However, it is creating STOCK INFLATION - how the F is Twitter worth so much?!

[ReggieDurango]

Originally Posted by MrBaldBastard

Wouldn't 70k be the min already?

Hahahahahahaha lol

[onwebcam]

Merchant account provider.. epassporte 2.0 in the making.

[sandman!]

maybe he can get away with it

[Due]

Originally Posted by Robbie

I'm watching as people's wages are higher and prices get higher and higher over time...and meanwhile, we haven't been able to raise the price of a fucking porn membership in almost 20 goddamned years because of piracy.

And even at our STAGNANT rate, we can't sell it because of all the piracy.

We raised our price to $34.99 back in the beginning of 2008. But by 2009, had to drop it back.

I think it might be worth considering hat consumers most likely also compare the prices to services like Netflix, Hulu or Amazon prime, they all cost $8-$15 / month

[ManPuppy]

Originally Posted by $5 submissions

Fact 2: Henry Ford (a tech visionary in his time) shocked Corporate America when he doubled his minimum wage to $5 a day

Just for kicks, I looked up what $5 a day is worth now. $117.40, according to this inflation calculator:
Calculate the value of $1 in 1914 - Inflation on 1 dollars - DollarTimes.com

There's a lot of water in a simple inflation calculator, though. It doesn't take into account the "necessities" we take for granted now that didn't exist then, or income tax, etc. Today, depending on where you live (in the U.S.), $117.40 a day ranges from, at best, a modest living, down to having several roommates.

[Spunky]

Great gesture from the man helping the little people