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Politics : View from the Center and Left

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To: koan who wrote (405256)	4/12/2019 11:04:34 AM
From: Wharf Rat	Read Replies (1) of 541457

"Amazon now pays its employees $15 dollars an hour" Amazon can afford to pay its employees that much. Lots of small businesses can't. "Yesterday Katie Porter humiliated Jaime Diamond who makes 31 million to pay his employees a livable wage" She also said he's paying $16/hr, so he's above the state MW, which just went to $12 for businesses with more than 25 employees. Will people with 26 employees fire one? In her example, Porter said the woman was short about $600. That means giving her another $3.50-$4/hr. JPM might be able to do it, but most businesses in my county couldn't. "that means paying CEO's less and workers more." Small businesses don't have CEOs. Let's say the owner of a diner with 4 employees in NYC puts $8K in the bank every year. A $1.00 increase in wages will cost the entire profit. If my math was right and NYC increased it by $2, there would be a loss of $8,000 the first year.

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