Verge
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"Surely a 2.9% increase on the highest wages and a 4% increase in the lowest would be less expensive than if it were the other way around. "
Although I see that you are trying to be pure at heart, it actually doesnt mathematically work like that.
Take a large company like Coles with over 100,000 employees. Lets say for arguments sake they have the equivelant of 50,000 full time employees on the minimum wage of $551.
The $17.10 a week equals 3.1%.
Say we give them the extra 0.9% you talk of (Taking them to 4%), which would have meant an additional $4.96 a week. Chicken feed, but multipled by 50,000 employees x 52 weeks the additional cost is $12,896,000.
The CEO of Coles last year including bonuses got $15,100,000.
Now if he only got a 2% pay rise, 2% of 15,100,000 is only $302,000. Well short of the extra $12,896,000 you speak of.
I know you mean well, but mathematically it just doesnt add up.
I merely pointing out that in large corporations, $5 a week can really add up, and its not that simple as saying the CEO could fund it instead of a pay rise, because as Ive illistrated, forgoing the pay rise wouldnt pay for it.
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