If usury is acceptable, then should not employees in USA, all of whom lend money to their employers, not be paid interest?
Every employee is like a good restauranteur. The employee only charges after delivering satisfactory service. Let's take for example an employee who is paid at the end of every month. Say the employee earns $100 a day (some $12.50 an hour.)
Now technically employees only lend credit to their employers, but this is also true of loans made by banks. No one lends actual money.
This employee waits 30 days to be paid for that first day's work. In effect, this employee lends his employer $100 for 30 days. (and 29 dasys for the 2nd day's work, and so on.) If interest is acceptable, and employees in USA are making loans to employers, should not employers pay these employees for these loans? I mean, fair is fair.
Certainly the money involved is not large. I went to http://www.csgnetwork.com/interestsavcalc.html to see what a loan of $100 for 30 days at 6%, a generous rate for a employer on a business loan, and I see it would be a mere sixty cents.
But wait, there are 22 work days a month, and until the month ends, every day is added to the total lent to the employer. It looks like this when each days wages are calculated at interest until the EOM payday:
So big deal, the employee is out some $5.75 per month, in an interest regime. Or a measly $69.00 per year. But this is $69 the employer does not have to borrow since the employee is financing the employer to that extent. And say the employer has 100 employees, then the employer is saving $6900 a year in interest by taking no interest loans from his employees. That all goes straight to the bottom line.
Now some employees, a banker for example, make not $100 per day, but $1000 per day. You doubt that? With some 242 workdays a year, that is only a salary of $242,000. There are plenty of people who make that. Ask them about kicking in $690 per year to their employer.
But let's say almost everyone only makes $100 per day. And there are some 130 million people employed in USA. Let's be fair, let's say the are mostly paid twice a month, not once a month. So let's cut the interest owed employees in half, to about $2.85 per pay check.
That is $370,000,000 denied employees by employers every single two week pay period. Or nearly ten billion dollars a year. Nice!
In USA employees could use this money. What with taxes going up on them. If you believe interest is good and right, then why deny your employees interest on the money they lend you?
I'm just sayin' ...
Please feel free to share this post with three of your friends.
Every employee is like a good restauranteur. The employee only charges after delivering satisfactory service. Let's take for example an employee who is paid at the end of every month. Say the employee earns $100 a day (some $12.50 an hour.)
Now technically employees only lend credit to their employers, but this is also true of loans made by banks. No one lends actual money.
This employee waits 30 days to be paid for that first day's work. In effect, this employee lends his employer $100 for 30 days. (and 29 dasys for the 2nd day's work, and so on.) If interest is acceptable, and employees in USA are making loans to employers, should not employers pay these employees for these loans? I mean, fair is fair.
Certainly the money involved is not large. I went to http://www.csgnetwork.com/interestsavcalc.html to see what a loan of $100 for 30 days at 6%, a generous rate for a employer on a business loan, and I see it would be a mere sixty cents.
But wait, there are 22 work days a month, and until the month ends, every day is added to the total lent to the employer. It looks like this when each days wages are calculated at interest until the EOM payday:
0.6
0.48
0.44
0.43
0.38
0.36
0.35
0.33
0.31
0.3
0.25
0.23
0.21
0.2
0.18
0.16
0.15
0.13
0.08
0.07
0.05
0.03
0.03
5.75
So big deal, the employee is out some $5.75 per month, in an interest regime. Or a measly $69.00 per year. But this is $69 the employer does not have to borrow since the employee is financing the employer to that extent. And say the employer has 100 employees, then the employer is saving $6900 a year in interest by taking no interest loans from his employees. That all goes straight to the bottom line.
Now some employees, a banker for example, make not $100 per day, but $1000 per day. You doubt that? With some 242 workdays a year, that is only a salary of $242,000. There are plenty of people who make that. Ask them about kicking in $690 per year to their employer.
But let's say almost everyone only makes $100 per day. And there are some 130 million people employed in USA. Let's be fair, let's say the are mostly paid twice a month, not once a month. So let's cut the interest owed employees in half, to about $2.85 per pay check.
That is $370,000,000 denied employees by employers every single two week pay period. Or nearly ten billion dollars a year. Nice!
In USA employees could use this money. What with taxes going up on them. If you believe interest is good and right, then why deny your employees interest on the money they lend you?
I'm just sayin' ...
Please feel free to share this post with three of your friends.
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