The general public thinks the average company makes 5x more profit than reality

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Kargath
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The general public thinks the average company makes 5x more profit than reality

Post by Kargath » Thu May 17, 2018 6:45 am

https://www.aei.org/publication/the-pub ... h-part-ii/

The AEI suggests that this might be behind some of the socialistic tendencies in the general populace - that they really do think that there is money just sitting there to be raided. Interesting stuff.
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Shane
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Re: The general public thinks the average company makes 5x more profit than reality

Post by Shane » Thu May 17, 2018 10:17 pm

This is why it's easy to convince people of a $15 minimum wage or that if the McDonald's CEO took a pay cut to his $15.4 million salary it would go a long way to increasing the wages of the company's 1.9 million employees. Of course, 3% of billions of dollars may still be billions of dollars, but the local franchisee working 80 hours a week with one restaurant probably isn't a fat cat.
Competition is a good thing. It's a chance to crush people.

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