Hats Off To This Guy

[Minimalist]

[DeistPaladin]

[Hatshepsut]

Easy for him to offer that kind of money. He runs a business where people just give him money without him having to produce any products or services...

Though processing credit card payments is a service. There was a day before Diner's Club and Bank Americard when it was cash or check.

It costs a fair chunk of change to capitalize and operate a credit card clearing house, even if computers are used. I'll admit this $70K guy isn't really doing everything that's involved; his firm doesn't make the plastic cards or answer customer calls and so on. These functions are outsourced. Basically, he sounds like a programming shop for the most part. At the same time he seems less greedy than CEOs often are. Sure, he's made his millions and can afford his self-imposed salary cut. But most CEOs remain tightfisted Ebenezer Scrooges no matter how much they're making and this type of gesture should be encouraged.

[Heywood]

Easy for him to offer that kind of money. He runs a business where people just give him money without him having to produce any products or services. I mean, it's so easy, even Donald Trump couldn't fail.

Oh wait, that's what casinos do too, isn't it?

It is definitely not easy for him to offer that kind of money. His self imposed high minimum wage puts him at a competitive disadvantage. Another recession that causes a significant revenue drop could bankrupt him. It is his money and business....he can do with it what he wants.

I applaud his generosity but question his business sense.

[Minimalist]

One of the best moves I made when I was running the dog rescue was to switch our credit card operations to Square.com.  They are faster, easier, cheaper, more responsive, and with fewer restrictions than the bank affiliated company we were using.  We saved a small fortune in overhead costs and with Square having their app for Iphones and Androids I built up a whole crew of volunteers who were trained to use it at various events across the state.  

[DeistPaladin]

Easy for him to offer that kind of money. He runs a business where people just give him money without him having to produce any products or services. I mean, it's so easy, even Donald Trump couldn't fail.

Oh wait, that's what casinos do too, isn't it?

It is definitely not easy for him to offer that kind of money. His self imposed high minimum wage puts him at a competitive disadvantage.  Another recession that causes a significant revenue drop could bankrupt him. It is his money and business....he can do with it what he wants.

I applaud his generosity but question his business sense.

I would say life is a balance. In some industries, it may not be possible to pay people so well. But at the very least, you should be able to live without government assistance if you work 40 hours a week. Even untrained menial workers should be able to generate that much hourly value or why hire them at all? The only reason some are paid less is because the government subsidizes certain labor costs with food stamps. But for that, no one would work for so little. This represents a government subsidy of some labor costs, which is unfair. 

Raise the minimum wage to where you are no longer eligible for government assistance by virtue of your income and problem solved. 

[Heywood]

It is definitely not easy for him to offer that kind of money. His self imposed high minimum wage puts him at a competitive disadvantage.  Another recession that causes a significant revenue drop could bankrupt him. It is his money and business....he can do with it what he wants.

I applaud his generosity but question his business sense.

I would say life is a balance. In some industries, it may not be possible to pay people so well. But at the very least, you should be able to live without government assistance if you work 40 hours a week. Even untrained menial workers should be able to generate that much hourly value or why hire them at all? The only reason some are paid less is because the government subsidizes certain labor costs with food stamps. But for that, no one would work for so little. This represents a government subsidy of some labor costs, which is unfair. 

Raise the minimum wage to where you are no longer eligible for government assistance by virtue of your income and problem solved. 

Observations do not support your claim.  Food Stamp use is at an all time high and labor participation is way way way down.  If your claim that food stamps allow companies to get away with paying lower wages is true, then we would expect that as food stamp subsidises increase so does labor participation.  But the opposite is happening.  Food stamp subsidies allow people to work less....not get paid less.

[Minimalist]

[The Grand Nudger]

Those food stamps come on the farm bill, straight up corporate welfare...I'm surprised that you can see government boogeymen everywhere...but here, on this issue - you're totally in the dark Heywood.

Whenceforth cometh walmart, friend?

[DeistPaladin]

Observations do not support your claim.  Food Stamp use is at an all time high and labor participation is way way way down.  If your claim that food stamps allow companies to get away with paying lower wages is true, then we would expect that as food stamp subsidises increase so does labor participation.  But the opposite is happening.  Food stamp subsidies allow people to work less....not get paid less.

What Min said about you checking your facts before you post. 



A lot of these "moochers" on the public dole ARE working full time.