There should be no profits, no bonuses, and no dividends until every worker (not employee, it doesn’t matter what your relationship with the company is if they benefit from your labour) is making at least a living wage with full benefits. Executive pay should be capped at a multiple of the pay of the lowest paid worker or of the average pay paid to all workers. whichever is lower.
There should be no profits, no bonuses, and no dividends until every worker (not employee, it doesn’t matter what your relationship with the company is if they benefit from your labour) is making at least a living wage with full benefits.
To get anywhere, you must define “living wage” concretely. You can use variables of course, but without at least a ‘formula’, “living wage” is just a meaningless, unachievable talking point. You at least have to know what you’re aiming at, to have any hope of achieving it–you’ll never get anywhere just saying “living wage”, because ‘enough to live on’ does not nearly have the same definition for everyone. So, what’s the baseline, in your view?
Example: ‘the living wage should be enough money to afford [list of things] with $X leftover for discretionary spending/saving.’
The classic definition is the wage needed to cover the basic needs of the family including things like rent, childcare, transportation, etc. I would go one further and say that the family needs to not be living paycheque to paycheque. They should be able to save for the future, go out once in a while, educate their children, save and pay for university, and advance themselves. They should be able to live.
The classic definition is the wage needed to cover the basic needs of the family including things like rent
Rent where? Rent costs vary wildly.
childcare
What sort of childcare, and how many children is it meant to support? Or do you get $X per child? And if so, is there a maximum number of children, where having more won’t get you more money?
transportation
Over what distance? And how, owned vehicle or public transportation? If owned vehicle, what kind of vehicle? Used/new? Price ranges for vehicles also vary wildly.
I would go one further and say that the family needs to not be living paycheque to paycheque.
That entails what amount of extra money? And what do you do about people who willfully choose to spend it instead of saving it? Are you aware that in the US, 1 in 4 of people earning $150k or more live paycheck to paycheck? Just because one has money to save doesn’t mean they’re going to do it.
go out once in a while
Again, far too vague. How often? And how much money does ‘going out’ cost? You’d have to figure both of those out, and multiply them by each other, to ensure this goal is met.
educate their children
Taxpayer-funded public school already covers this. Unless you feel everyone should be entitled to the cost of private schooling?
save and pay for university
University tuition is another massive variable, so you’d need to decide how much is given for tuition. Also, if someone does not go to college, do they not get that part of the money?
and advance themselves.
The vaguest criterion yet. It’s pretty much impossible to say if a given minimum wage satisfies ‘everyone can advance themselves’.
As anyone can see, this “classic” definition is still full of major holes, and not nearly complete enough to even conceptualize a goal such that progress toward it can even be measured. Just saying “living wage” over and over will never get anyone anywhere.
There should be no profits, no bonuses, and no dividends until every worker (not employee, it doesn’t matter what your relationship with the company is if they benefit from your labour) is making at least a living wage with full benefits. Executive pay should be capped at a multiple of the pay of the lowest paid worker or of the average pay paid to all workers. whichever is lower.
To get anywhere, you must define “living wage” concretely. You can use variables of course, but without at least a ‘formula’, “living wage” is just a meaningless, unachievable talking point. You at least have to know what you’re aiming at, to have any hope of achieving it–you’ll never get anywhere just saying “living wage”, because ‘enough to live on’ does not nearly have the same definition for everyone. So, what’s the baseline, in your view?
Example: ‘the living wage should be enough money to afford [list of things] with $X leftover for discretionary spending/saving.’
The classic definition is the wage needed to cover the basic needs of the family including things like rent, childcare, transportation, etc. I would go one further and say that the family needs to not be living paycheque to paycheque. They should be able to save for the future, go out once in a while, educate their children, save and pay for university, and advance themselves. They should be able to live.
Rent where? Rent costs vary wildly.
What sort of childcare, and how many children is it meant to support? Or do you get $X per child? And if so, is there a maximum number of children, where having more won’t get you more money?
Over what distance? And how, owned vehicle or public transportation? If owned vehicle, what kind of vehicle? Used/new? Price ranges for vehicles also vary wildly.
That entails what amount of extra money? And what do you do about people who willfully choose to spend it instead of saving it? Are you aware that in the US, 1 in 4 of people earning $150k or more live paycheck to paycheck? Just because one has money to save doesn’t mean they’re going to do it.
Again, far too vague. How often? And how much money does ‘going out’ cost? You’d have to figure both of those out, and multiply them by each other, to ensure this goal is met.
Taxpayer-funded public school already covers this. Unless you feel everyone should be entitled to the cost of private schooling?
University tuition is another massive variable, so you’d need to decide how much is given for tuition. Also, if someone does not go to college, do they not get that part of the money?
The vaguest criterion yet. It’s pretty much impossible to say if a given minimum wage satisfies ‘everyone can advance themselves’.
As anyone can see, this “classic” definition is still full of major holes, and not nearly complete enough to even conceptualize a goal such that progress toward it can even be measured. Just saying “living wage” over and over will never get anyone anywhere.