Syndicate content

Why Not Set A $500-An-Hour Minimum Wage?

February 25, 2013

When Bob Cousy retired from the Boston Celtics after leading his team to five consecutive championships, he was earning $35,000 a year.  LeBron James raked in $44.5 million last year.

That’s 127,143% more than the Celtics point guard made.  And King James has won only one championship.  Even taking 50 years of inflation into consideration, that’s a mind-boggling differential in pay.

Yet we would consider it grotesque for the federal government to jump in and insist that the Celtics contribute millions in back pay to the Cooz … or demand a reduction in compensation for LeBron.