A maverick CEO raised the minimum wage at his company to $70K and now he's doing it again
via Twitter / Leo The Dragon King

The federal minimum wage in the United States is a paltry $7.25 and it hasn't gone up since 2009.

"It's not acceptable," Holly Sklar, CEO of the advocacy group Business for a Fair Minimum Wage, told CNBC. "The whole point of the minimum wage is to have it go up regularly. It shouldn't sit still every year when the cost of living is going up. The minimum wage is losing value."

Data shows that in 1968, the federal minimum was equivalent to $10.90 in 2015 dollars, nearly $4 higher than today's rate.

Opponents to an increase in the minimum wage often claim that only teenagers make minimum wage; therefore, there's no need for it to be raised.


However, nothing is further from the truth. According to The New York Times, the average minimum wage earner is is 35, and 88% are at least 20 years old. Half are older than 30, and about a third are at least 40.

via AFL-CIO / Flickr

A low minimum wage keeps people living below the poverty line and increases the need for public assistance.

RELATED: This debate over the minimum-wage is going viral after a blunt commenter set the record straight

According to the Economic Policy Institute, roughly 60% of all workers in the bottom tenth of wage earners (those paid less than $7.42 per hour) receive some form of government-provided assistance, either directly or through a family member.

So basically, the taxpayers are subsidizing employers who refuse to pay workers a living wage.

Back in 2015, Dan Price made headlines for raising the minimum wage at his Seattle-based company, Gravity Payments, to $70,000 a year. It all started after an employee making $35,000 challenged him for paying market rates.

"You brag about how financially disciplined you are, but that just translates into me not making enough money to live a decent life," the employee said.

The move doubled the pay of about 30 of his workers and gave an additional 40 significant raises. After drastically improving his employees pay, productivity and worker retention rates skyrocketed.

RELATED: One viral thread perfectly shares the painful reality of why poorer families buy junk food

"I want the scorecard we have as business leaders to be not about money, but about purpose, impact, and service. I want those to be the things that we judge ourselves on," he said at the time.

Now, Price has done it again.

Three years ago, Price's company acquired ChargeItPro, in Boise, Idaho and it was recently re-branded Gravity Payments. At the ribbon-cutting ceremony, Price announced that the new Boise office would also have a minimum wage of $70,000.

"This morning we cut the ribbon on the new @GravityPymts Boise office AND announced that all of our employees here will start earning our $70k min salary," Price announced on Twitter. "I'm so grateful to work with this amazing team and to be able to compensate them for the value they bring to our community."

While this sort of generosity seems like nothing more than an outlier story, the idea that the bottom line shouldn't be a company's main focus is gaining some steam.

The Business Roundtable, a group of chief executive officers of nearly 200 major U.S. corporations, issued a statement in August with a new definition of the "purpose of a corporation."

Americans deserve an economy that allows each person to succeed through hard work and creativity and to lead a life of meaning and dignity. We believe the free-market system is the best means of generating good jobs, a strong and sustainable economy, innovation, a healthy environment and economic opportunity for all.

It also said:

Investing in our employees. This starts with compensating them fairly and providing important benefits. It also includes supporting them through training and education that help develop new skills for a rapidly changing world. We foster diversity and inclusion, dignity and respect.
From Your Site Articles
Related Articles Around the Web
Courtesy of Creative Commons
True

After years of service as a military nurse in the naval Marine Corps, Los Angeles, California-resident Rhonda Jackson became one of the 37,000 retired veterans in the U.S. who are currently experiencing homelessness — roughly eight percent of the entire homeless population.

"I was living in a one-bedroom apartment with no heat for two years," Jackson said. "The Department of Veterans Affairs was doing everything they could to help but I was not in a good situation."

One day in 2019, Jackson felt a sudden sense of hope for a better living arrangement when she caught wind of the ongoing construction of Veteran's Village in Carson, California — a 51-unit affordable housing development with one, two and three-bedroom apartments and supportive services to residents through a partnership with U.S.VETS.

Her feelings of hope quickly blossomed into a vision for her future when she learned that Veteran's Village was taking applications for residents to move in later that year after construction was complete.

"I was entered into a lottery and I just said to myself, 'Okay, this is going to work out,'" Jackson said. "The next thing I knew, I had won the lottery — in more ways than one."

Keep Reading Show less
via Seresto

A disturbing joint report by USA Today and the Midwest Center for Investigative Reporting found that tens of thousands of pets have been harmed by Seresto flea and tick collars. Seresto was developed by Bayer and is now sold by Elanco.

Since Seresto flea collars were introduced in 2012, the EPA has received incident reports of at least 1,698 pet deaths linked to the product. Through June 2020, the EPA has received over 75,000 incident reports relating to the collars with over 1,000 involving human harm.

The EPA has known the collars are harming humans and their pets but failed to tell the public about the dangers.

Keep Reading Show less
True

We're redefining what normal means in these uncertain times, and although this is different for all of us, love continues to transform us for the better.

Love is what united Marie-Claire and David Archbold, who met while taking a photography class. "We went into the darkroom to see what developed," they joke—and after a decade of marriage, they know firsthand the deep commitment and connection romantic love requires.

All photos courtesy of Marie-Claire and David Archbold

However, their relationship became even sweeter when they adopted James: a little boy with a huge heart.

In the United States alone, there are roughly 122,000 children awaiting adoption according to the latest report from the U.S Department of Health and Human Services. While the goal is always for a child to be parented by and stay with their biological family, that is not always a possibility. This is where adoption offers hope—not only does it create new families, it gives birth parents an avenue through which to see their child flourish when they are not able to parent. For the right families, it's a beautiful thing.

The Archbolds knew early on that adoption was an option for them. David has three daughters from a previous marriage, but knowing their family was not yet complete, the couple embarked on a two-year journey to find their match. When the adoption agency called and told them about James, they were elated. From the moment they met him, the Archbolds knew he was meant to be part of their family. David locked eyes with the brown-eyed baby and they stared at each other in quiet wonder for such a long time that the whole room fell silent. "He still looks at me like that," said David.

The connection was mutual and instantaneous—love at first sight. The Archbolds knew that James was meant to be a part of their family. However, they faced significant challenges requiring an even deeper level of commitment due to James' medical condition.

James was born with congenital hyperinsulinism, a rare condition that causes his body to overproduce insulin, and within 2 months of his birth, he had to have surgery to remove 90% of his pancreas. There was a steep learning curve for the Archbolds, but they were already in love, and knew they were committed to the ongoing care that'd be required of bringing James into their lives. After lots of research and encouragement from James' medical team, they finally brought their son home.

Today, three-year-old James is thriving, filled with infectious joy that bubbles over and touches every person who comes in contact with him. "Part of love is when people recognize that they need to be with each other," said his adoptive grandfather. And because the Archbolds opted for an open adoption, there are even more people to love and support James as he grows.

This sweet story is brought to you by Sumo Citrus®. This oversized mandarin is celebrated for its incredible taste and distinct looks. Sumo Citrus is super-sweet, enormous, easy-to-peel, seedless, and juicy without the mess. Fans of the fruit are obsessive, stocking up from January to April when Sumo Citrus is in stores. To learn more, visit sumocitrus.com and @sumocitrus.

Kara Coley, a bartender at Sipps in Gulfport, Mississippi, got an unusual phone call on the job last week.

Photo courtesy of Kara Coley.

"Good evening," Coley answered. "Thank you for calling Sipps!"

A woman on the other end of the line asked, "Is this a gay bar?"

Sipps welcomes everyone, Coley explained to her, but indeed attracts a mostly LGBTQ crowd.



Keep Reading Show less

Over my own 20+ years of motherhood, I've written a lot about breastfeeding. My mom was a lactation consultant, I breastfed all three of my children through toddlerhood, and I've engaged in many lengthy debates about breastfeeding in public.

But in all that time, I've never seen a video that encapsulates the reality of the early days of breastfeeding like the Frida Mom ad that aired on NBC during the Golden Globes. And I've never seen a more perfect depiction of the full, raw reality of it than the uncensored version that bares too much full breast to be aired on network television.

The 30-second for-TV version is great and can be seen in this clip from ET Canada. The commentary that accompanies it is refreshing as well. We do need to normalize breastfeeding. We do need to see breasts in a context other than a sexualized one that caters to the male gaze. We do need to let new moms know they are not the only ones feeling the way they feel.


Keep Reading Show less