Comments on: Pay As a Contribution to Society http://blog.canadian-dream-free-at-45.com/2008/08/26/pay-as-a-contribution-to-society/ Wed, 08 Feb 2012 17:31:40 +0000 hourly 1 http://wordpress.org/?v=3.1 By: Friday Linkstuff http://blog.canadian-dream-free-at-45.com/2008/08/26/pay-as-a-contribution-to-society/comment-page-1/#comment-8549 Friday Linkstuff Fri, 29 Aug 2008 09:01:55 +0000 http://blog.canadian-dream-free-at-45.com/?p=491#comment-8549 [...] Dream has an idea about paying people according to their value to society. Sorry, but supply and demand determines [...] [...] Dream has an idea about paying people according to their value to society. Sorry, but supply and demand determines [...]

]]> By: Canadian Dream http://blog.canadian-dream-free-at-45.com/2008/08/26/pay-as-a-contribution-to-society/comment-page-1/#comment-8505 Canadian Dream Thu, 28 Aug 2008 15:31:00 +0000 http://blog.canadian-dream-free-at-45.com/?p=491#comment-8505 Tina, What ever gave you the idea the women would have to stay home? At $45,000/per/year I could stay home with our two kids and save more than I make. Tim Tina,

What ever gave you the idea the women would have to stay home?

At $45,000/per/year I could stay home with our two kids and save more than I make.

Tim

]]> By: tina http://blog.canadian-dream-free-at-45.com/2008/08/26/pay-as-a-contribution-to-society/comment-page-1/#comment-8504 tina Thu, 28 Aug 2008 15:12:59 +0000 http://blog.canadian-dream-free-at-45.com/?p=491#comment-8504 Wouldn't this just cause more women to not work and stay home to raise kids? In other words, aren't you advocating for the 1950s? Wouldn’t this just cause more women to not work and stay home to raise kids? In other words, aren’t you advocating for the 1950s?

]]> By: Cash Canuck http://blog.canadian-dream-free-at-45.com/2008/08/26/pay-as-a-contribution-to-society/comment-page-1/#comment-8489 Cash Canuck Thu, 28 Aug 2008 05:40:47 +0000 http://blog.canadian-dream-free-at-45.com/?p=491#comment-8489 I have to agree with FourPillars. Supply and demand would haul wages back into line. If childcare cost 45K per year I'm sure some parents would be willing to pay a little less for someone a little less qualified. How much does an average family spend on daycare versus movies or pro sports? If you look at it this way, then it's obvious that people DO value children more than movie stars and pro jocks. The money spent on childcare is just spread around more, and the caregivers are just regular people, not celebrities. I have to agree with FourPillars. Supply and demand would haul wages back into line. If childcare cost 45K per year I’m sure some parents would be willing to pay a little less for someone a little less qualified.

How much does an average family spend on daycare versus movies or pro sports? If you look at it this way, then it’s obvious that people DO value children more than movie stars and pro jocks. The money spent on childcare is just spread around more, and the caregivers are just regular people, not celebrities.

]]> By: Early Retirement Extreme http://blog.canadian-dream-free-at-45.com/2008/08/26/pay-as-a-contribution-to-society/comment-page-1/#comment-8474 Early Retirement Extreme Wed, 27 Aug 2008 23:45:47 +0000 http://blog.canadian-dream-free-at-45.com/?p=491#comment-8474 The immediate problem you run into is "who decides what is important"? In a sense this has already ben decided. The more important something is to you, the more you are willing to pay for it. In the aggregate the more important something is to society, the more people are willing to pay for it. This effectively determines supply. The immediate problem you run into is “who decides what is important”? In a sense this has already ben decided. The more important something is to you, the more you are willing to pay for it. In the aggregate the more important something is to society, the more people are willing to pay for it. This effectively determines supply.

]]> By: Canadian Dream http://blog.canadian-dream-free-at-45.com/2008/08/26/pay-as-a-contribution-to-society/comment-page-1/#comment-8452 Canadian Dream Wed, 27 Aug 2008 11:51:10 +0000 http://blog.canadian-dream-free-at-45.com/?p=491#comment-8452 Austin, Now that IS a good idea. A CEO of a poorly run company is a better idea to compare to. Mike, I'm aware this will never happen, it was just one of those fun ideas running around my head I felt like sharing. Sarlock, Excellent point on why it really happens. Tim Austin,

Now that IS a good idea. A CEO of a poorly run company is a better idea to compare to.

Mike,

I’m aware this will never happen, it was just one of those fun ideas running around my head I felt like sharing.

Sarlock,

Excellent point on why it really happens.

Tim

]]> By: Sarlock http://blog.canadian-dream-free-at-45.com/2008/08/26/pay-as-a-contribution-to-society/comment-page-1/#comment-8432 Sarlock Wed, 27 Aug 2008 03:00:54 +0000 http://blog.canadian-dream-free-at-45.com/?p=491#comment-8432 Volume. A big named actor can be paid what they are paid because of the revenue they generate. When I go to the movie theatre, I may put $1 (or more) of my ticket price in to their pocket. Same with a sports game, I put a significant part of my ticket price in to the pockets of the players. My portion alone is meaningless, but times 20,000 fans and it's a big paycheque. If a daycare worker could take care of 50,000 children at $1 each per day, they'd be extremely wealthy individuals (earning, at 20 days/month, $1 million in monthly revenue). Unfortunately, it's more like 5 or 6 kids. Volume.

A big named actor can be paid what they are paid because of the revenue they generate. When I go to the movie theatre, I may put $1 (or more) of my ticket price in to their pocket. Same with a sports game, I put a significant part of my ticket price in to the pockets of the players. My portion alone is meaningless, but times 20,000 fans and it’s a big paycheque.

If a daycare worker could take care of 50,000 children at $1 each per day, they’d be extremely wealthy individuals (earning, at 20 days/month, $1 million in monthly revenue). Unfortunately, it’s more like 5 or 6 kids.

]]> By: Four Pillars http://blog.canadian-dream-free-at-45.com/2008/08/26/pay-as-a-contribution-to-society/comment-page-1/#comment-8429 Four Pillars Wed, 27 Aug 2008 01:34:46 +0000 http://blog.canadian-dream-free-at-45.com/?p=491#comment-8429 Interesting idea. I think however that you just can't get away from the old supply and demand law. It's not that we overpay professions that we don't value or the opposite but rather that some professions are easily filled (ie child care) so the wages are lower. Pro athletes are relatively rare so they make the big bucks. It's easy to pick examples that support the argument but there are plenty of well paid professions that people probably value - doctors would be an example. Another way to look at value is to get away from individual salaries and look at professions as a whole - ie in Canada or the US - what is the total income earned by child care workers vs the total income earned by pro athletes and actors? Mike Interesting idea. I think however that you just can’t get away from the old supply and demand law. It’s not that we overpay professions that we don’t value or the opposite but rather that some professions are easily filled (ie child care) so the wages are lower. Pro athletes are relatively rare so they make the big bucks. It’s easy to pick examples that support the argument but there are plenty of well paid professions that people probably value – doctors would be an example.

Another way to look at value is to get away from individual salaries and look at professions as a whole – ie in Canada or the US – what is the total income earned by child care workers vs the total income earned by pro athletes and actors?

Mike

]]> By: Astin http://blog.canadian-dream-free-at-45.com/2008/08/26/pay-as-a-contribution-to-society/comment-page-1/#comment-8385 Astin Tue, 26 Aug 2008 17:38:04 +0000 http://blog.canadian-dream-free-at-45.com/?p=491#comment-8385 I think your comparison is a bit off though. Actors/athletes get paid based on what they do for their profession. Just putting Tom Hanks in a movie virtually guarantees his salary will be paid in the first weekend alone, where Joe Nobody could mean the movie never breaks even. People would come to see Michael Jordan, making the owners millions upon millions more than MJ made - same for his endorsements. A better comparison would be to the overpaid CEO of a financially troubled company. Once, their pay was tied to performance, but now it's tied to reputation. If it's believed that an executive will help the bottom line, they get paid handsomely, regardless of the actual performance. It makes no sense to see executives make millions of dollar when their companies are losing billions. We live in a world where ROI is king, and sadly, the ROI on childcare isn't easily measured in dollars, so we look for people who we believe will be a positive influence, and are capable of feeding and entertaining our kids. There's a reason teachers are so poorly paid - they're seen more as babysitters than educators, and the short-term gain is negligible. Sadly, this hurts everyone long-term, but long-term planning is painfully ignored by many. I think your comparison is a bit off though. Actors/athletes get paid based on what they do for their profession. Just putting Tom Hanks in a movie virtually guarantees his salary will be paid in the first weekend alone, where Joe Nobody could mean the movie never breaks even. People would come to see Michael Jordan, making the owners millions upon millions more than MJ made – same for his endorsements.

A better comparison would be to the overpaid CEO of a financially troubled company. Once, their pay was tied to performance, but now it’s tied to reputation. If it’s believed that an executive will help the bottom line, they get paid handsomely, regardless of the actual performance. It makes no sense to see executives make millions of dollar when their companies are losing billions.

We live in a world where ROI is king, and sadly, the ROI on childcare isn’t easily measured in dollars, so we look for people who we believe will be a positive influence, and are capable of feeding and entertaining our kids. There’s a reason teachers are so poorly paid – they’re seen more as babysitters than educators, and the short-term gain is negligible. Sadly, this hurts everyone long-term, but long-term planning is painfully ignored by many.

]]> By: WhereDoesAllMyMoneyGo.com http://blog.canadian-dream-free-at-45.com/2008/08/26/pay-as-a-contribution-to-society/comment-page-1/#comment-8357 WhereDoesAllMyMoneyGo.com Tue, 26 Aug 2008 13:22:32 +0000 http://blog.canadian-dream-free-at-45.com/?p=491#comment-8357 Tongue in cheek: you would have to tip the pay scales even more since there would be less entertaining tv shows for the caregivers to plunk the kids in front of. ;) Tongue in cheek: you would have to tip the pay scales even more since there would be less entertaining tv shows for the caregivers to plunk the kids in front of. ;)

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