Here is a story that should teach us a lot about our culture. Isn’t it interesting to see how people both inside and outside of Gravity Payments reacted to the founder’s decision to raise salaries to a minimum of $70,000. Would you have predicted this? Notice the invocation of Communism and Socialism when a high paid executive cuts his own salary to raise those of his employees.
There are times when Dan Price feels as if he stumbled into the middle of the street with a flag and found himself at the head of a parade.
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 own 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 worked 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 almost overnight, a …