Guess how much?!: CEO vs. Minimum Wage

We hit the streets at the Democratic National Convention in Denver to see if regular folks could guess the difference what workers and CEO's make an hour.

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Entertainment

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• DNC
• workers
• CEO's
• minimum
• wage
• living
• employment
• disparity
• democratic
• convention
• denver
• man
• on
• the
• street
• interviews

[Nik84811]

@032125 You make an excellent point there. I did not think about that. Thank you for bringing it up.

[032125]

@Nik84811 Well yes, you are correctly observing that monetary value is only an expression of a nominal exchange rate, but there would be other consequences as well. For starters, if a large segment of the population suddenly required vast amounts of currency, then the value of M2 would go through the roof, and you would have a shortage of currency such that it wouldn't likely be used for exchange, and thus wouldn't be a viable currency at all.

[Nik84811]

@032125 I have been thinking about that idea you mentioned in the last paragraph for a while and to tell you the truth it would really have no effect at all since it's saying that 100 dollars is not a lot since it is the minimum wage. If everyone made 100 dollars an hour it would be the normal instead of an insane amount of money and subsequently prices for everything would go up making CEOs' salaries an even more insane amount of money. Then we would end up back where we started w/ poverty.

[mintico]

those people keep saying its not fair but they never think that CEO run big company and they have big big pressure in every decision they made. Bad decision by them will cause billion of dollar loss by the company. so yeah the bigger ur responsibility the higher u get paid. its an incentives you know, these people run big company that affect millions even billion of people lives, so if you pay them less like lets say $1000/hr, they wont work and think as hard anymore.

[032125]

Way to base an entire video on Karl Marx's labor theory of value, komrades.

You will note that they don't bother asking how much wealth a CEO creates in an hour, compared to a high school student just entering the job market with no skills.

The SEIU has a vested interest in raising the minimum wage because it gives them leverage to raise already high union pay rates.

If minimum wage is the answer to poverty, why not raise it to $100 an hour? Would that end poverty, or create it?