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In general, would you support businesses paying higher wages even if it results in higher prices for goods and services?

Thursday, Nov 2, 2023

In general, would you support businesses paying higher wages even if it results in higher prices for goods and services?

👍 Yes (45%) – "A business that can’t pay their employees reasonable living wages shouldn’t be in business. Although it’d be preferable for CEOs and other board of director members get paid less, the reality of that happening is slim to none, ergo, it falls on the consumers."

  • "With most of the wealth in the country being with only 1%, they should be cutting in to their profit margins to make sure their employees are not living in poverty. Big businesses don't need more money. Executives don't need more money. Every day people need more money. If a job doesn't cover housing, food, and healthcare for a person and their dependents, then it's not a job the economy really needs."

"First of all I don't think it should all go to the consumer. Why can't those guys that make millions of dollars every year take a pay cut? They can afford it. That being said, I personally would be okay with what I consider luxury items (eating out, even if it's fast food) having slightly increased prices, because it's worth it for that worker. What I would worry more about is places like a grocery store, where an increase in price is a bigger deal. That provides necessities and for those that make minimum wage or are impoverished, it's only going to compound the issue."

  • "In theory, yes - People should be paid a living wage. HOWEVER... I am not in support of companies raising prices to supposedly meet minimum wage increases, but really it's so that they don't have to cut into inflated corporate C-suite salaries or shareholder profits. People at the top and their shareholders shouldn't be money hoarding the way that they do. And in general... THAT is why prices are being raised, not because they can't afford to pay their employees more."

"As long as its not a ridiculous increase I would support it. Most of the biggest companies, such as McDonald's, definitely make enough profit to be able to significantly increase wages without drastically increasing prices."

👎 No (34%) – "Basic economics are that all jobs are only worth a certain amount by the economic value provided. Upset that balance and something has to give. Business owners will replace $20 unskilled workers with alternatives like automation. Expect less jobs available in that sector."

  • "While I agree everyone should be paid a livable wage, how does increasing the costs of goods help that? Suddenly they are getting paid more, but due to goods price increases they still cannot afford what they couldn’t before."

"The cascading effects of $20 minimum wage will result in wiping out the anticipated increased purchasing power the raise was intended to provide. Want $20/hour? Increase your skills to a level that justifies the wage."

  • "I'm all for higher wages for employees, but I feel like the CEOs and higher level management wouldn't be willing to give up part of their 6-7 figure bonuses to offset these wage increases. They always pass their greed on to the consumers who are struggling with their own wage disparities."

🤷 Unsure/other (21%) – "This is so much more than just a yes/no answer. We can’t improve quality of living by mandating higher wages, as that drives businesses to raise prices. We are already seeing huge increases in cost for everyday items, and raising wages to allow people to afford to purchase them will only raise those prices even more! Anyone who has tried to buy a vehicle (used or new) has seen this, and I can almost guarantee that new vehicle prices will increase by the same 30% that UAW workers will get through their new deal."

  • "I fully support business paying employees higher wages. I'm unsure if I would continue to support a business that puts the burden of paying employees fair wages on the consumer by charging more. If the business is a local business that could not stay functioning with the decreases revenue then I would continue to support. However, if the business is a giant corporation like McDonalds and has the capacity to keep their prices fair for consumers while also still pay their employees an increased rate but chooses not to so that they can keep making billions in profit then I don't support that business practice. Corporate greed continues to get out of hand and impact consumers/workers the most."

"Based on CEO bonuses and payouts to stockholders, companies can pay their employees more AND maintain prices. They shouldn’t pass the cost to consumers who are already struggling with inflation just to maintain profit “growth”."

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