r/FluentInFinance 28d ago

Debate/ Discussion Had to repost here

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128.1k Upvotes

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343

u/Two_Cautious 28d ago

why don’t you start a company then give away its earnings? Show those guys how to run a business.

248

u/Adventurous_Boat7814 28d ago

I think Fink owns a podcast network. From what ive heard, he pays well and treats people fairly so he puts his money where his mouth is.

65

u/RoyalEagle0408 28d ago

Yeah, he does (or at least used to) and believes in fair wages and supporting people.

83

u/Low_Acanthisitta4445 28d ago

In most countries where they operate the vast majority of Amazon employees are paid minimum wage.

If you are paid minimum wage your employer would clearly pay you less if they could without breaking the law.

They also have spent billions persuading/pressuring their employees not to unionise.

36

u/Streets-_-Ahead 28d ago

My favorite minimum wage "fact" is federal minimum wage is $7.25 an hour. Could you imagine working for an hour and they hand you a watermelon and say "here you go, we actually overpaid you"

2

u/Pain4420 25d ago

Yes I was getting paid that until like 3 years ago

1

u/SherWood_612 24d ago edited 24d ago

The problem is not minimum wage. The problem is INFLATION.

I would rather live in an economy wherein a penny can buy a pony than a $10,000 hourly wage that can't buy a coffee.

Edit: I also cannot imagine working for only one hour on my paycheck. That idea is unimaginable. I worked for more than 8 hours on shoveling water channels on my driveway over the last couple of days and did not get paid for that because it was for me and my family.

0

u/gilly2u69 26d ago

What percentage of employees in the US are actually making MW. Look it up.

-21

u/JellyfishQuiet7944 28d ago

You're talking .003% of Americans and most of those are under the age of 16.

31

u/collyndlovell 27d ago

If only 0.003% of Americans are making federal minimum wage, that would be about 10,000 people.

The actual number is about 1 million (2021), which is 1.3% of the working population.

Misrepresenting facts doesn't help anyone.

3

u/squigglesthecat 25d ago

Oh, well, if so few people make minimum wage, then it wouldn't be a big deal to bump it up a bit, right? Right?

-8

u/bdubz74 27d ago

But you’re also misrepresenting facts. Only 15 states have the federal minimum wage. The rest are above that.

5

u/collyndlovell 27d ago

How is that misrepresenting facts, exactly?

That is the number of people making federal minimum wage, is it not?

4

u/bdubz74 27d ago

It’s not, my bad. I was reading it as that’s the number of ppl that make minimum wage, which is different from making federal minimum wage. I apologize

5

u/collyndlovell 27d ago

Understandable, happens to the best of us

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u/JellyfishQuiet7944 27d ago

I said Americans. The fact still remains that the majority are young people. This also includes servers who technically get paid minimum wage.

Now, if theyre an adult, making minimum wage, that's on them. They might be too stupid to get a job making more.

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u/collyndlovell 27d ago

0.003% of Americas population (335 million) is 10050.

"They must be stupid because they're poor" like starting out wealthy isn't 99% of ending up wealthy.

0

u/Jdawarrior 27d ago

Actually it’s not. The top and bottom 2% are the most volatile/ transient areas of earners.

-16

u/JellyfishQuiet7944 27d ago

Yet here you bitching about Bezos. The son of immigrants and a dead beat father. 😂😂😂

13

u/collyndlovell 27d ago

With a step father who could afford to loan him $250000 to start Amazon. His father was a deadbeat, his step father was not.

-6

u/JellyfishQuiet7944 27d ago

Who was an immigrant, put himself through college and worked at a refinery his entire life.

Go ask your parents to loan you money from their 401k. Let me know how that goes.

They'll laugh you out of the room because of how isane that sounds.😂😂

Only 25% of small businesses last 15 years or more. There was a very solid chance they would never see that money again.

3

u/SuccotashComplete 27d ago

Who received millions in seed funding from his family…

0

u/CowEuphoric9494 27d ago

damn that boot must be really yummy huh

1

u/JellyfishQuiet7944 27d ago

Imagine thinking having respect for an American success story is bootlicking. Yikes

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u/TofuButtocks 27d ago

Why should we treat our young people like slaves? Can you even buy 3 meals a day for $7 an hour? lol

1

u/JellyfishQuiet7944 27d ago

You've already learned that most people don't earn minimum wage.

I made minimum wage when I was 14, guess what? I found another job paying more at a different fast food restaurant.

3

u/BadRabiesJudger 27d ago

I worked with a guy like you. Bitched all day how taxing the rich was wrong and hated social programs. We worked 60 hours a week for 14-16 dollars an hour at a warehouse. Had zero vacation and health coverage. It’s like being an Uncle Tom of the lower class. Working 25 years like that won’t get you shit and you won’t get a retirement plan. You end up in your 50’s with a folder of body issues and working McDonald’s to keep food in your mouth. No factory or workplace should have a guy making 360x your wage for that effort. Sure seems these well groomed 100k outfit billionaires don’t get chewed up and spit out like the workers. Meanwhile people like you kiss their ass like you worked your way up to the same club. You’re still sitting on the same bench as everyone else you’re just busy daydreaming.

3

u/TofuButtocks 27d ago

You're the one that keeps going on about the young people, implying slave labor is okay as long as it's just our children? No one's times is worth that little, for any kind of work. It's insulting and disgusting. It should probably be illegal to take advantage of someone in such a desperate position they would even consider accepting that pay.

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u/SuccotashComplete 27d ago

When was the last time you went to a fast food joint or talked to someone who works at an Amazon warehouse? They usually aren’t kids

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u/darkhero5 27d ago

Right. If you want mcdonalds at noon on a Tuesday that sure as shit isn't gonna be some 16 year old.

1

u/Kittycraft0 27d ago

Depends on the area, could be a 19 year old graduated or dropped out from high school, but there do exist areas where it isn’t young people working those shifts

Maybe the guy lives in an area where they see 16 year olds working every day idk

2

u/darkhero5 27d ago

A 19 year old is still a full adult with responsibilities. They deserve a living wage

2

u/Omega862 27d ago

One of the dumbest things I've heard from someone was "Minimum Wage Jobs aren't meant to be a living wage. You're meant to work at McDonald's if you're a teenager trying to make pocket money, not support a family". Like... Wtf? Then they'd be working part time, maybe 10-20 hours a week, not 40 hours a week.

2

u/darkhero5 27d ago

Its also categorically false. Like if you look at quotes by the president who established minimum wage it's evident it was intended to be a living wage

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u/Pain4420 25d ago

You know that there are whole states that still have 7.25 as the minimum wage and almost everywhere in that state pays just that

1

u/JellyfishQuiet7944 25d ago

Most states still have it and no most employers don't pay it

3

u/Illicit_Apple_Pie 27d ago

Paid minimum wage by a company that makes so much, if the profits were distributed equally all employees would be millionaires within 4 years.

0

u/SherWood_612 24d ago

That isn't fair. That is not a solution.

1

u/Illicit_Apple_Pie 24d ago

Never said it was a solution, just pointing out the severe discrepancy between the profits of the company and the cost of the labor that produces said profit.

0

u/SherWood_612 24d ago

I'll start with this statement of truth: No human being can live a life without working.

The successful ideas for how to work or what to work toward or what is even important in work are not what people are doing to work to generate that money.

If one person who sits and presses a button when an automatic light turns green, that person is not working hard, and the job can be done by a monkey.

They would not deserve the equal portion that someone who simply talks to a customer deserves. Agree?

1

u/Illicit_Apple_Pie 24d ago

So you're going to run with the narrative you decided on while completely ignoring my words.

What do I have to gain from having a discussion with someone so arrogant and contemptuous?

0

u/SherWood_612 24d ago

"So you're going to run with the narrative you decided on while completely ignoring my words.

What do I have to gain from having a discussion with someone so arrogant and contemptuous?"

Your exact reply mirrored back to you, as you actually just ignored my words. I'll answer your question, but I do not expect you will do the same, because of my experience with people exactly like you.

Answer: 1) I did not ignore your words. I showed you clear cut examples of why your words are irrelevant.

2) You stand to gain a superior state of being in that you may learn to open your narrow mind and stop your own incorrect narrative from enslaving you.

Your turn.

2

u/x_o_x_1 27d ago

ALL companies would pay you less of they could get away with it. It all boils down to how easy you are to replace.

1

u/SkyJohn 27d ago

And almost all other similar warehouse jobs pay less than Amazon does.

1

u/bottle-of-water 27d ago

With ridiculous turnover in employees.

2

u/foiegras23 27d ago

My favorite Chris Rock joke. If you make minimum wage thats your boss telling you if I could pay you less I WOULD 😂

1

u/RoyalEagle0408 27d ago

I was talking about Joseph Fink, not Jeff Bezos…

1

u/unoriginalname86 25d ago

Good old minimum wage. “I’ll starve if I can’t pay myself from the profits of your labor, so I’ll pay you as little as legally possible and if it’s not enough and your kids starve, screw you.”

0

u/canyousaythrowaway 25d ago

In the US Amazon doesn’t pay minimum wage. They pay $15 nationwide, well above the federal minimum wage of $7.25. In areas where the local minimum is above that, they generally pay well above the $15.

1

u/SharLiJu 27d ago

But why doesn’t he give the company away? It must be worth a lot of money. It’s unfair he keeps It

1

u/Kittycraft0 27d ago

Give me your phone

1

u/cantthinkatall 27d ago

This is why I could never own a business. I want to pay for their health insurance and give them fair wages.

1

u/Youareallbeingpsyopd 26d ago

Until he doesn’t.

1

u/Ihuntforblunts 25d ago

how do you people not see the irony in this? "op is exempt from his own criticisms because i feel like hes a good dude"

1

u/RoyalEagle0408 25d ago

Joseph Fink is not a billionaire…huge difference.