$12 /hr sounds perfectly reasonable if they also get the same 900% in extra benefits and stock options
The myth of the victimized, over-taxed, virtuous, and morally superior [m]billionaire would be laughable were it not accepted as religious truth by the majority of 1%.
Actually real studies were done by a group of scientists and researchers with various Cannibal tribes world wide. The consensus was that people taste like bacon.
Ultimately what the employees are paid lies on the shoulders of the individual franchisees. Some of those franchisees are HUGE:
On the second floor, I sit down with Cafua’s CFO, Chris Kennedy. When Kennedy joined the operation five years ago, it wholly owned 130 Dunkin’ franchises. That number has spiked to 215 (around 300 when stores that Cafua owns with partners are included). Cafua is not about to stop there. He expects his buying and building spree to result in dozens more Dunkin’ shops in coming months.
Kennedy’s job, in part, is to integrate all the new franchises into the family and, at times, make sure they don’t chase growth recklessly. Right now, they’ve got slightly more than 4,000 employees, with about 20 more added every time they buy or open a store. When Obamacare’s employer mandate takes effect next year, Kennedy will have to find a way to help fund health insurance for a whole lot more of them.
The Dunkin’ CEO is saying what his franchisees expect him to say. While all of Dunkin’s franchisees are affected by an increase in the minimum wage, the larger franchisees are the ones who really have his attention. The CEO is the lightning rod.
A more livable $15 per hour makes their locations slightly less profitable, potentially dampening the enthusiasm of future franchisees.
It’s not that the franchisees will lose money (they operate at an impressive margin), it’s that they won’t make as much. If we have come to understand anything about how the 1% operate: They know trickledown is bullshit. A penny paid is a penny lost.
But were they eating RICH people force fed with Crispy Cremes and hundred dollar bills?
The saddest thing is we have heard these things before from these types. It’s the same mantra over and over again and it is a tired and stale one at that.
This is where government and legislation is designed to protect the people as a whole. Limit their compensation, or cut off their tax loop holes and whack them with 60-80%% tax rates like was done during the 50s, 60s, and 70s which was the LARGEST economic growth period we had as a nation.
I was trying to explain to my kids the economics of opportunity and how wealth and connections increase options, opportunity, and privilege; while being of the wrong race, social status, and sex among others can bring down opportunity.
Back 110-80 years ago; anarchist, socialist, unionist, and communist days we actually did more than grumble about the inevetible wealthy above us, WTF has happened to our discourse where we assume that there is nothing to actually be done about the wealthy?
Are we still too comfortable, is moving into mom’s basement still better than moving forward with occupy or other movements?
The consensus was that people taste like bacon.
/stares at the rest of the Boing Boing BBS members.
Also worth noting is that his stock options and other “non salary benefits” are likely taxed at a much lower rate than income, so his effective tax rate is probably lower than most middle income households.
And the $%##@@$#$ duped Republican voting blue collar workers who support them hoping to someday become wealthy too, though Democrats vote along similar lines.
The outrage you get from even suggesting that wealth should not be concentrated is amazing.
As though capital gains were more virtuous than the dirty money earned by actual human effort and taxed at far higher rates.
I fuckin’ LOVE bacon.My pillow’s stuffed with bacon.I got bacon insoles in my boots.I wish chicken tasted like bacon.I once made Toll House cookies with bacon grease instead of butter.
#MMMMmmmm, Long Pork
The best defense is a good offense.
I live in a university town, and I see kids going after their goals every day. They aren’t griping about corporate salaries… they don’t have time.
I used to lell my mates not to gripe 30 years ago when new immigrants were buying buildinga while they smoked joints.
They still are.
Nope. I taste like cigarettes and shiftwork.
And the people we’re talking about here are also going after their goals, in this case the goal of getting their tightfisted bosses to fork over a living wage.
Smoked-cured? Just making me hungry…
