Categories:  'Economic Inequality'  

A Company with a $70,000 Minimum Wage

Three months ago, Mr. Price, 31, announced he was setting a new minimum salary of $70,000 at his Seattle credit card processing firm, Gravity Payments, [...]

Three months ago, Mr. Price, 31, announced he was setting a new minimum salary of $70,000 at his Seattle credit card processing firm, Gravity Payments, and slashing his million-dollar pay package to do it. He wasn’t thinking about the current political clamor over low wages or the growing gap between rich and poor, he said. He was just thinking of the 120 people who works for him and, let’s be honest, a bit of free publicity. The idea struck him when a friend shared her worries about paying both her rent and student loans on a $40,000 salary. He realized a lot of his own employees earned that or less.

Yet overnight, a decision by one small-business man in the northwestern corner of the country became a swashbuckling blow against income inequality.

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Articles

Publication Date: 27/06/2017
Source: The Washington Post
Author: Ben Spielberg
Publication Date: 26/06/2017
Source: The Washington Post
Author: Max Ehrenfreund
Publication Date: 31/07/2016
Source: The New York Times
Author: Patricia Cohen