| Let's run the numbers again for a thought experiment: - $15600000 CEO compensation [0] - 69600 workers [1] - 1760 hours average per US worker per year [2] - $20.12 hourly wage for the lowest paid John Deere employees $0.13/hour, 0.6%, or a bit over a dollar a day increase for the lowest paid group. That would be the increase if the JD CEO would work for $1, with all his previous pay evenly distributed to all employees. Not insignificant. Now let's have a slightly different thought experiment. What if the CEO pay is cut by 50%, and evenly distributed only to the bottom 10%? A $0.64/hour, 3.2% or $5.09/day increase. That would be a very significant number to all involved. I'm not saying this is what should happen or not. Just saying the number is significant. [0] https://eu.desmoinesregister.com/story/money/business/2021/1... [1] https://www.statista.com/statistics/278010/john-deere-number... [2] https://en.wikipedia.org/wiki/List_of_countries_by_average_a... |
When you are financially struggling, a 10¢ raise (extra $4 for the week) can make a big difference.
One of my friends worked 40 hours and had $20 to spend on herself after her bills (which were frugal, since she didn’t earn much). Low pay sucks when you earn a discretionary $0.50 for every hour of work.