20th Century Motor Company was the fictitious Marxist company in Atlas Shrugged, there the owners decided they would pay the workers according to their needs, not their abilities.
Not quite there yet, but check
these morons out His idea bubbled into reality on Monday afternoon, when Mr. Price surprised his 120-person staff by announcing that he planned over the next three years to raise the salary of even the lowest-paid clerk, customer service representative and salesman to a minimum of $70,000.
“Is anyone else freaking out right now?” Mr. Price asked after the clapping and whooping died down into a few moments of stunned silence. “I’m kind of freaking out.”
If it’s a publicity stunt, it’s a costly one. Mr. Price, who started the Seattle-based credit-card payment processing firm in 2004 at the age of 19, said he would pay for the wage increases by cutting his own salary from nearly $1 million to $70,000 and using 75 to 80 percent of the company’s anticipated $2.2 million in profit this year.
Let me guess, he is not publically traded? Even so, is there venture capital involved and how do they like this little stunt? Maybe they invested money with this guy for fun! It wasn't to (GASP!) make more money- that is for sure!
And how is this going to go when you need to hire employee 121 and the value they bring to the bottom line is an additional $20K?
Or Employee 130? His old average wage was around $50K.. so you have to think that - at some point, some employees are not worth to the business what they are being paid?
How many employees earning their 70K a year will resent the people earning $70K while working part time answering phones?
How much cronyism will there be when opportunities for new hires do come up?
What if there is a downturn in his business? Can he stay in business, or are these people smiling because they know in two years their employer will be laying them off or reducing these salaries?
Stop smiling you liberal jackasses.
There A'int No Such Thing as a Free Lunch.
Eventually you will pay for it - one way or another.