A billionaire explains the middle class
On 12/25/2014 10:58 PM, F. George McDuffee wrote:
On Thu, 25 Dec 2014 20:38:07 -0600, "David R. Birch"
wrote:
Are there salaried employees working full time and making only $23,660?
That amount over 52 40 hour weeks is $11.375 an hour.
Many businesses have multiple "managers" on salary making
this little. Food service and chain retail stores are prone
to having a day manager, an evening manager, a night
manager, etc. with no authority to decide anything, and no
employees they supervise. Two prong approach: (1) The
employee gets a title instead of a raise; and (2) the
employee is overtime exempt. What's not to like?
For the employee, what's to like?
This means there are lots of people who have risen to their level of
incompetence with a meaningless title and poverty level salaries. Not
really middle class.
Which explains the service we get in the food and retail industries, but
is only a small part at the low end of the middle class. Anyone with
anything on the ball can do better when they see a title and no overtime
is a dead end.
David
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