Actually, I went online and did some research. His company has 120 employees who currently make an average of $48,000 a year, and he is increasing that wage to $70,000. So, $22,000 more per employee times 120 employees is about $2,640,000 in increased payroll a year. He claims he is paying that increased expense out of the firm’s 2.2 million profit, and by reducing his own salary by $930,000. So, contrary to what the posted article claims, the math more or less adds up.
So, contrary to what the posted article claims, the math more or less adds up.
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Good post. The author of the article is wrong.
but you really do also need to up the increased salary costs by about another 50% to obtain what the real costs are to the company.