Late Capitalism, Ethical Investing, & Building Wealth In A Broken System. New eps of TFC every Mon.

[Backinblackbunny]

No one works harder then minimum wage workers. I know a lady who hasn't had a day off in 10yrs. She's undocumented and even during quarantine she was scheduled to work so she did. Idk how she's still going

[vulpixelful]

This was a good rant because she also talked about how prospective investors demanded she pay herself more than her 5-figure salary for her business so they could understand her "real" profits. She didn't pay herself over $100k in the beginning and they thought she was underpaid 🤣

[TheStaggpaul]

Yep. All of the sociopaths are being concentrated at the top.

[mak]

When I was young my dad was in an uproar because a product was 50% more than the recommended retail price. He said it was against the law, now it’s not unusual for products to be 1000% more.

[Exdus]

The thing is CEOs are not getting the majority of their money from a salary.
They're getting it from options, that are locked for X amount of years. Typically 2-5.

Those options are worthless of the company loses value, or fails to increase the value of their stock.

But increase the stock by 20%, and those options are worth millions.

So CEOs are incentivized to raise the value of the stock, by any means necessary. ANY means...

[Kate]

Thank you for this. As someone who accidentally started a nonprofit organization I keep thinking about how to keep things ethical as we monetize and move away from being 100% volunteer

[julzgulz]

As a conservative, I fully support CEO pay being capped at 100x the lowest wage at the company. Problem is most pay comes in form of stocks and bonuses, etc.

[nottheone]

can we also normalize that if your business model is predicated on time theft from employees you don't have a business? it's a charity. if you wouldn't work for free, why would you expect your employees to?

[yedsjng]

How about a law that states if a ceo drives a company into bankruptcy they don’t get to leave with a golden parachute.

[LMB]

Business owners can pay themselves from the company's profits rather than pay themselves a salary.

How exactly do you want to curtail that?

[faxmine]

I totally agree with this. There needs to be more people that realize that also trying to become one of those CEOs or higher power people is extremely difficult and having delusions that you'll become a millionaire in the future is not going to happen.

[chocolatesugar]

Yesss so so true. Can you own an ethically good business though, that’s the flex

[hereholdthiswillya]

good!! because this is the answer to the problem that minimum wage can never properly solve.

[bikenb]

Here’s an interesting idea.
From Torah,
If God owns everything and only asked for ten percent off the top. That is the tithe.

What if laborer got paid 90% of the value their superior gained from them…?

Love your neighbor as yourself.

[ponypruhest]

What are those many countries that made laws regarding how much higher executives can be paid?

[lydianicolenorwick]

We agree a minimum wage prevents exploitation, why is there no maximum wage?

[beastshawnee]

you can own a business but can you be a moral person who actually helps the employees improve their lives?

[NEC]

If to stay afloat and grow means that you can’t pay your employees properly, then you’re not running a successful business.

[jeremypratts]

This means that if I built a company from scratch and made it successful the employees needs to be paid as if they helped build the company. But how about is the company colapse will the employees have and obligation to support the company or is that the responsibility of the founder. Privilege for the weak💪💪💪

[dmccoolcat]

The argument I've heard against this is that cutting/limiting wages for those types of jobs is it will limit incentive and limit achievement