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I would assume that the government has some legal and constitutional means to dictate executive salaries.

In the UK, the government simply bought huge chunks of shares of the banks in trouble, so it has lots of seats on the board and can (A) propose a much reduced remuneration package and (B) vote it in at an EGM.

Another possibility is that some of these companies are in such trouble they need more federal money which gives the government a chance to say cut your salaries or we won't bail you out again.

A third possibility is simple moral pressure. After all it's not just the government who would like to see executive salaries cut hugely, it's a lot of ordinary people too.

Salaries, not bonuses.

inquisitor_bob wrote:

Frazzled wrote:
Here the minimum wage is irrelevant. All jobs close to that pay scale are employed by persons to whom English is a second language.

English is my second language...

Luckily I earn enough for basic necessities.

Texan is not a primary language...punk!

You know, the government already decides the salaries of most taxpayer-funded jobs. That's because they're government jobs.

These companies took taxpayer dollars to correct their own mistakes. The government (and, by extension, the taxpayers) have a right to demand that they cut their excesses in return.

If the greedy executives who made the decisions that got us into these messes quit in response, well, I won't shed a tear.

Frazzled wrote:

Wrexasaur wrote:

Fateweaver wrote:If Obamanation ever decides flipping burgers at BK is worth $20/hour I'll gladly go apply. Yeah it's not glamorous or attorneys wages but I could live nicely on $20/hour, 40/week.

Couldn't afford a Lambo but would still have a nice house and one new car on those wages.

With a minimum wage of 7.50/ hour (something around that figure) around here, I am sincerely confused as to how most families could even survive on that amount of income out here. I think that minimum wage should be increased by a minimum of 25% realistically, but when you press things like that on a company, you can expect that cost to be taken from the employees in other ways anyway.

The worst part about such a low minimum wage, is that those employees are inevitably going to be making up the difference on most occasions, through taxpayer money. So you get a pretty vicious cycle of taking and giving, but never really solving most of the problems in the first place.

Here the minimum wage is irrelevant. All jobs close to that pay scale are employed by persons to whom English is a second language.

Jeez that must be nice. Around here, the unemployment is insanely high.Last I heard it was getting to the 16% or more, one city near me was at a 22%. So getting a minimun wage job is hard as hell, nevermind getting one that pays decently lol

Frazzled wrote:

Texan is not a primary language...punk!

I like the new Avatar.

Holliday special baby!

Did anyone watch Frontline this week? It was very interesting. At lady by the name of Booksly Born, warned congress and Clintons boys about the dangers of nonregulation of the derivatives market. She basically predicted the crash of 2008. (not the particular date mind you, just that we were headed for trouble)

In case anyones interested http://www.pbs.org/wgbh/pages/frontline/warning/

GG

Wrexasaur wrote:

Fateweaver wrote:If Obamanation ever decides flipping burgers at BK is worth $20/hour I'll gladly go apply. Yeah it's not glamorous or attorneys wages but I could live nicely on $20/hour, 40/week.

Couldn't afford a Lambo but would still have a nice house and one new car on those wages.

With a minimum wage of 7.50/ hour (something around that figure) around here, I am sincerely confused as to how most families could even survive on that amount of income out here. I think that minimum wage should be increased by a minimum of 25% realistically, but when you press things like that on a company, you can expect that cost to be taken from the employees in other ways anyway.

The worst part about such a low minimum wage, is that those employees are inevitably going to be making up the difference on most occasions, through taxpayer money. So you get a pretty vicious cycle of taking and giving, but never really solving most of the problems in the first place.

There's really not much left to minimum wage employees that the compainies could take from them. Resturants generally don't even give free food to employees anymore. They don't cover any of the costs of their employee's health insurance, they don't give sick days, and I'm pretty certain that any vacation pay is federally mandated.

In short, minimum wage is just that: bare minimum. Not even enough to survive on, unless you have a roommate or spouse.

Obamanation, Fateweaver? That's a new one to me. I'm guessing you don't like him very much. Care to PM and tell me why? I'm genuinely curious as to know how someone who's only been in office for 9 months has earned that much enmity from you.


Automatically Appended Next Post:

Redbeard wrote:You know, the government already decides the salaries of most taxpayer-funded jobs. That's because they're government jobs.

These companies took taxpayer dollars to correct their own mistakes. The government (and, by extension, the taxpayers) have a right to demand that they cut their excesses in return.

If the greedy executives who made the decisions that got us into these messes quit in response, well, I won't shed a tear.

Heck, let's go whole hog. Pay these executives the same amount their counterparts in government service get. I guarantee you they will be shocked at how little they will get.

Apply the rest to paying us back the money they made disappear with their craptacular speculation.

Vulcan wrote:There's really not much left to minimum wage employees that the compainies could take from them.

Besides their jobs, obviously.

You people do realize the minimum wage is not designed for a family right? Right? Its literally a starting wage.