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Amazing how the people who are so "concerned" that raising working class wages will result in higher prices never seem to consider that outsize executive compen
by clipsy 3y ago
Amazing how the people who are so "concerned" that raising working class wages will result in higher prices never seem to consider that outsize executive compensation, massive stock buybacks, etc are responsible for higher prices. Almost like they aren't concerned with the prices at all!
- ARandomerDude 3y agoI actually never made any of those claims. My general take is that companies who are in dominant market position will use basically any excuse to raise prices, including the ones you listed.
- astrange 3y agoThey accidentally have a point there though. 1. poorer people spend a much higher % of their income, whereas rich people save it. 2. there's a lot more poorer people than rich people, which unfortunately can mean they're more capable of moving prices. This is sort of related to why the middle class thinks full employment+low inequality economy is worse. There's other middle class people to bid up prices, and service at restaurants is worse/more expensive. It's nice to be in a high-unemployment high-inequality economy, if you're employed.
- lr4444lr 3y agoHow much is executive comp really at a publicly traded company as a percentage of revenue? 40% raises for most employees across the board probably dwarfs it. I don't see how stock buybacks relate more directly to anything here than retained earnings, or other kinds of reinvestment. They're just an effect of market conditions and the stock price.