June 17, 2021

GIL

Daily Global New Media

Millionaire Took Pay Cut To Raise Minimum Wage To $70,000 – Did It Work?

1 min read

42 thoughts on “Millionaire Took Pay Cut To Raise Minimum Wage To $70,000 – Did It Work?

  1. I hear everyone gets a living wage I'll take 70000 a year as long as I'm worth a couple of hundred million. Business is business the owner will always look out for number one. And yes we had a 80 + 90% tax rate but there was a thousand write-offs and loopholes they ended up only paying 20 30% at the most. Then you get these government officials at twist their money in ways that they never paid taxes and they're worth hundreds of millions of dollars.

  2. A quick question on the 70k. What is the balance between paying someone twice what their market value is.. and paying 2 people exactly what their market value is? Or, going in the other direction, why not pay everyone 90k and thus the company stores less profit? Combining the two, what if he could layoff 30% of the workforce, and pay everyone 120k? Or charge his customers 30% less?

  3. Awesome. I like that I think Dan is a good person…. That doesn't understand what money is. Fortunately, he is allowed to give away his money and derive good karma from that.. because we live in a capitalist system. But if you take away 90% of earnings, you don't have that choice. More importantly, money earned by people is an exchange store for being able to purchase an amount of goods equal to the amount of goods produced.. Keeping in mind of course that with a Fiat currency controlled by the government it sometimes doesn't work out 100% that way. But its close. As for the hypocrisy check – Steve Job's only made $1 in salary…. and Oooooh so much more in stock when he made Apple into what it is today. So Dan only taking 70k, but benefitting from 100% of the stock which is rising in worth about 4 million per year… His actual salary then is…. 4 million per year! So the only ones screwed by the system were the middle managers.. no wonder some of them stepped down..

  4. Good interview.
    Most reveling part was his positive opinion of the worst scam bags ( Marx, Sanders, AOC.) Negative opinion of other scam bags I agreed with (Bezos, Gates.)

  5. My dude Pat just said, "We're going to get off and probably have a relationship together."

    News flash Pat. If you guys got off together, a relationship already exists.

  6. When the US had 90% marginal tax rate, no one paid that much. There were so many exceptions. Costa Rica top marginal tax rate is 25%. In Denmark the top effective tax rate is around 60%. Norway 50%. Nowhere near 90%.

  7. It's the typical woke style. Pat hit the mark: his business equity still belongs to him. The fact he hasn't done anything about it says it all. It's a huge detail you'd think they would have discussed in the beginning.

  8. I respect Dan's morality and selflessness very much but taxing the rich 70-90% wouldn't be a good idea at all. What incentive does that give entrepreneurs to create products and new advancements if they know that they are just going to get harassed by their own government because they exceed a certain threshold? Why couldn't someone reap the rewards of their labours? Why would anyone want to start a business if employees got paid more than the owner? Lol

  9. WHILE I DO NOT AGREE WITH THE GUEST. I THINK THE WAY YOU (PBD) TRIED TO HIT BACK WAS LAZY (INTELLECTUALLY). "IF YOU'RE SO GOOD THEN WHY DON'T YOU DO X". LOST A FEW POINTS FOR THAT.

  10. Wow! This was a very beautiful conversation. Kudos to both Pat and Dan for having a civil conversation about the issues, and how different business owners manage their own companies. Amazing job as always, Pat.

  11. The road to hell paved with good intentions
    To do evil a human being must first of all believe that what he’s doing is good or else that it’s a well considered act in conformity with natural law .
    Solzhenitsyn

  12. In a capitalist society, you are free to practice socialism, as shown here. The opposite is not true. Therefore do all the socialism you want, just don't force your views on me with a government gun, otherwise you're a tyrant.

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