The 'fair wage' argument stems from the disparity of the income earned between the laborers who produce the goods and the heads of companies/boards that own the companies. in the 70s CEOs made about 300% more than the average employee. In 2010 it was closer to 3500% more. that is where the fair wage argument comes from. The excessive disparity of income. The rub is that as the boards and CEOs are taking massive wages and bonuses they are crying poor on behalf of the company and refusing salary increases of executing layoffs to 'save the company' So my take is that fair wage relates more to who is gleaning the highest rewards and who is actually the producers of the good/services. It's the entire reason unions came into being. a share of the wealth that the labor produces. A living wage is what you need to get by in the region you live. For instance, in CT if you earn under $40,000 a year you are functionally below the poverty line but, other parts of the country you can raise a family on that amount.
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in the 70s CEOs made about 300% more than the average employee. In 2010 it was closer to 3500% more. that is where the fair wage argument comes from. The excessive disparity of income. The rub is that as the boards and CEOs are taking massive wages and bonuses they are crying poor on behalf of the company and refusing salary increases of executing layoffs to 'save the company'
So my take is that fair wage relates more to who is gleaning the highest rewards and who is actually the producers of the good/services. It's the entire reason unions came into being. a share of the wealth that the labor produces.
A living wage is what you need to get by in the region you live. For instance, in CT if you earn under $40,000 a year you are functionally below the poverty line but, other parts of the country you can raise a family on that amount.
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