Thread: Remember that CEO who decided to pay everyone 70k?

This guy was everywhere in the news a little while ago. After having a discussion with a friend about how hard it was for her to make ends meet making 40k a year, this guy did some research and found that 70k was the magic number where people could live comfortably and not have to worry about money. So he decided to cut his own paycheque down and pay EVERYONE in his company 70k a year, from the big wigs all the way down to the receptionists and guys who clean the toilets. He was on every talk show, everyone was fawning over this great act of kindness and talking about how ALL CEOs should do the same and be generous.

...would you believe it didn't work out well for him?

CEO who set $70,000 minimum salary forced to rent out his home after his business ran into trouble | National Post

LOL that is funny, wonder why it did not work.

Originally Posted by Master

LOL that is funny, wonder why it did not work.

Your guess is as good as mine. Sounded like a great idea!

We live in an age where shareholders have increased their take from 10% to 70%, where executive pay has gone through the roof, where fraudulent markets are God, and where uncontrolled borders and the dismantling of workers rights and the social contract mean that labour is worth nothing. This CEO was on the right track, but whatever work he was in simply wasn't working. I would be delighted to shop at a supermarket where I know the money is going to workers and where CEO and shareholder and middleman profits are slashed. I don't even go to the supermarket anymore. It is just so overpriced and you know none of it is going to farmers or workers. Cut them all out.

Co-operatives are the way to go and regulation should be in place to protect domestic production and ensure against monopolies. Where there must be a monopoly then simply nationalise it and run it in the public interest. We need to get back to a society based on people and the meaningful contributions they make. This capitalist freak show is sucked into black hole territory and it is almost at the end game. It is just that the controllers are too scared to admit it. Any news on those interest rate hikes Ms. Yellen? Carney has said no yet again. They are up to their necks in it. Almost time for it to crash.

Yet another example of why Socialism does not work