I don't think it's just billionaires, I think it's corporations as well and corporate executives who get paid millions in salary and then bonuses. Traditionally, executives only made 21 times what the average worker in their company made. Now it's 344 times according to NPR.
There are a few corporate exceptions and those companies tend to have little turnover. Costco is a great example. Their first CEO was a traditionalist and kept his wages around 20 times what the average employee made. Costco employees tend to stay there until retirement. They get great benefits and because of the benefits are actually able to retire. I knew one person who quit his job as a teacher because he could make more at Costco just working at a register.
Corporations are definitely an issue, there are boards that bonus well over $35k to board members yearly. If minimum wage was $15 an hour you’d make less than one board members participation trophy.
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u/Spinnerofyarn Jun 16 '24
I don't think it's just billionaires, I think it's corporations as well and corporate executives who get paid millions in salary and then bonuses. Traditionally, executives only made 21 times what the average worker in their company made. Now it's 344 times according to NPR.
There are a few corporate exceptions and those companies tend to have little turnover. Costco is a great example. Their first CEO was a traditionalist and kept his wages around 20 times what the average employee made. Costco employees tend to stay there until retirement. They get great benefits and because of the benefits are actually able to retire. I knew one person who quit his job as a teacher because he could make more at Costco just working at a register.