When 2014 Entrepreneur of the Year Dan Price, founder and CEO of Seattle-based “Gravity Payments,” announced he was going to pay everyone in his company a salary of at least $70,000 a year, the liberals went nuts with happiness.
I guess he figured Seattle’s new $15 minimum wage law just wasn’t doing enough to help workers. Price even cut his own pay from a million a year down to $70k per year – still a nice figure – to make everyone equal. Because we’re all equal, aren’t we?
People can now buy big new houses, cars, boats, diamond jewelry, cool rims for the truck, Pearl Jam tickets – just like the fat cats, baby!!!
This was going to prove once and for all that Capitalism sucks and spreading the wealth was where it’s at – baby..
The new employee made 70k, the guy making 50k now made 70k, that poor teenager right outta junior high made 70k… The person with twenty years experience and incredibly important to the company’s future, who was making $72,000 per year, was now… um… making two grand a year more than them – but Hey – them’s still good eatin’s if you ask me.
This is going to be the most kick-ass business that will cut the trail for the new ObamaAmerica!!
Price had been toying with the idea for several years, but eventually it became reality when Price set the minimum wage to $50,000, then on December 2016, it would rise to $60,000 a year and by December 2017, it will be $70,000 a year!!!
GENUIS! Everyone will be happy, work their asses off and the company will rule the world with all workers of all stripes getting the same salaries! Yippie! – LIFE IS GONNA BE PRETTY SWEET HERE IN PANACEA-VILLE! … and the rest of you, **cough, **cough “free-market Capitalists” – we’ll show you, you … you FREE MARKET STUPID CAPITALSTUPIDSTS!
Wrong again, Stalin-breath. Guess what?
Price and his company have, shall we say; “fallen on hard times…” So much so that the once multi-multi-millionaire darling of the left has to even rent out his own home to make ends meet.
“Everyone started screaming and cheering and just going crazy,” Price told Business Insider shortly after he broke the news in April. But in the weeks since then, it’s become clear that not everyone is equally pleased. Among the critics? Some of Price’s own employees.
Maisey McMaster — once a big supporter of the plan — is one of the employees that quit. McMaster, 26, joined the company five years ago, eventually working her way up to financial manager. She put in long hours that “left little time for her husband and extended family,” The NY Times says, but she loved the “special culture” of the place.
But while she was initially on board, helping to calculate whether the company could afford to raise salaries so drastically, McMaster later began to have doubts.
“He gave raises to people who have the least skills and are the least equipped to do the job, and the ones who were taking on the most didn’t get much of a bump. A fairer plan would give newer employees smaller increases, along with the chance to earn a more substantial raise with more experience. um, duh.
“I’m working as hard as I ever worked to make it work,” he told the Times in a video that shows him sitting on a plastic bucket in the garage of his house. “I’m renting out my house right now to try and make ends meet myself.”
The Times article said Price’s decision ended up costing him a few customers and two of his “most valued” employees, who quit after newer employees ended up with bigger salary hikes than older ones.
Grant Moran, 29, also quit, saying the new pay-scale was disconcerting.
“Now the people who were just clocking in and out were making the same as me,” he told the paper. “It shackles high performers to less motivated team members.”
And folks, it’s the same with raising the minimum wage to $15 per hour, just think of the same exact things happening, but on a much larger scale, because so many businesses have so many employees making $15 or better already. You think they’ll stand for that?
Not because his company is bad, or competition came in and beat them down – no, no, no… Socialism dragged it down.
Did you say this happened in “Seattle?” That explains it.
What an idiot. I hope he ends up here: