4 ms·

Well that begs the question, how are you going to double income beyond the rate of inflation?

s1artibartfast 2y ago
If it happens, it will be the same way it has been done for hundreds of years. Increase in productivity. More widgets and stuff produced per worker is the only way to beat inflation. This is the fundamental economic goal of nations which seek prosperity.
- hammock 2y ago
  How does the correlation of productivity vs income look for the last 50 years?
dopylitty 2y ago
Rather than doubling all income one option would be to make the existing income more evenly spread out. For instance McDonalds' CEO makes ~$20 million a year[0] and they paid out $6.6/share with 726M shares[1] to parasite shareholders[2] while the average non-CEO employee makes $25k a year[3]. Since there are 150000 employees working for McDonalds that means lowering the CEO salary to $200k and eliminating shareholder payouts would free up close to $5 billion/year. If that $5 billion were distributed evenly to all employees they would take in an additional $33k/year, more than doubling their salaries. Of course all these numbers are estimates and there are caveats but the overall point is there's a lot of money out there that's going to a very few people. 0: https://www.restaurantbusinessonline.com/financing/mcdonalds-ceo-chris-kempczinski-got-big-raise-last-year https://www.restaurantbusinessonline.com/financing/mcdonalds... 1: https://www.macrotrends.net/stocks/charts/MCD/mcdonalds/shares-outstanding https://www.macrotrends.net/stocks/charts/MCD/mcdonalds/shar... 2: https://finance.yahoo.com/news/income-investors-know-mcdonalds-corporation-121341390.html https://finance.yahoo.com/news/income-investors-know-mcdonal... 3: https://www.zippia.com/mcdonald-s-careers-7238/salary/ https://www.zippia.com/mcdonald-s-careers-7238/salary/
- s1artibartfast 2y ago
  Do you realize the CEO salary is literally a rounding error in your calculation? Your answer doesnt have enough digits to express the worker impact of that $20m salary.

If it happens, it will be the same way it has been done for hundreds of years. Increase in productivity. More widgets and stuff produced per worker is the only way to beat inflation. This is the fundamental economic goal of nations which seek prosperity.

hammock 2y ago
How does the correlation of productivity vs income look for the last 50 years?

dopylitty 2y ago

Rather than doubling all income one option would be to make the existing income more evenly spread out. For instance McDonalds' CEO makes ~$20 million a year[0] and they paid out $6.6/share with 726M shares[1] to parasite shareholders[2] while the average non-CEO employee makes $25k a year[3]. Since there are 150000 employees working for McDonalds that means lowering the CEO salary to $200k and eliminating shareholder payouts would free up close to $5 billion/year. If that $5 billion were distributed evenly to all employees they would take in an additional $33k/year, more than doubling their salaries. Of course all these numbers are estimates and there are caveats but the overall point is there's a lot of money out there that's going to a very few people. 0: https://www.restaurantbusinessonline.com/financing/mcdonalds-ceo-chris-kempczinski-got-big-raise-last-year https://www.restaurantbusinessonline.com/financing/mcdonalds... 1: https://www.macrotrends.net/stocks/charts/MCD/mcdonalds/shares-outstanding https://www.macrotrends.net/stocks/charts/MCD/mcdonalds/shar... 2: https://finance.yahoo.com/news/income-investors-know-mcdonalds-corporation-121341390.html https://finance.yahoo.com/news/income-investors-know-mcdonal... 3: https://www.zippia.com/mcdonald-s-careers-7238/salary/ https://www.zippia.com/mcdonald-s-careers-7238/salary/

s1artibartfast 2y ago
Do you realize the CEO salary is literally a rounding error in your calculation? Your answer doesnt have enough digits to express the worker impact of that $20m salary.