The Fortune 500 can easily afford to give low-wage workers a healthy raise

If you went to your child’s nursery school and saw one toddler with 300 toys while most—including your own—only had one or two to play with, what would you think?

hoarding toys (image credit: nottheitgirls.com)

hoarding toys (image credit: nottheitgirls.com)

“This ugly picture is an apt metaphor for the pay practices at many of the largest U.S. companies today. While low-wage earners suffer most, there’s growing evidence that low pay harms almost everyone, hurts corporate profits over the long term, and stifles economic growth. But could U.S. companies afford to pay more – could they invest dollars in workers today — in order to reap longer term gains?

“A look at Fortune 500 data suggests that the largest U.S. corporations could improve the economy, their bottom lines, and the lot of millions of workers by increasing the wages they pay their employees… Nearly 85% of Fortune 500 companies with positive income could have paid every single worker $10,400 more and still finished 2013 in the black.”

Read more from the Fortune Magazine here

 

 

Posted in Minimum Wage, National News, Poverty, Workers Rights News and tagged , , .