Is this man killing capitalism or saving it?

We’ve been hearing about the $15 minimum wage for months now.

Supporters say it’s long overdue; opponents say it’ll kill capitalism as we know it. And then there’s this guy:

“We’re going to have a minimum $70K pay rate for everyone who works here,” said Dan Price, the CEO of Gravity Payments – a Seattle company that processes credit transactions for small businesses.

Price announced not a $15 wage or even a $16 wage, but a minimum annual pay rate for every employee of $70,000.

What’s he thinking? Maybe this comment from a company video explains it:

“Every single person who works here is a key decision maker and that’s a culture that we’ve maintained from the beginning.”

If everyone is a key decision maker, why shouldn’t they all earn a decision maker’s salary?

As for where the money will come from? He will have to cut his company’s profits in half and he will also cut his own million dollar salary to $70,000.

We’ve seen CEOs like Steve Jobs and Mark Zuckerberg work for a dollar, but of course, those guys’ bank accounts achieved immortality long ago.

Dan Price said he’s doing this as a matter of principle.

“I want to be part of the solution to inequality. If corporate America also wants to be part of that solution, that would make me really happy.”

Well, I don’t know about corporate America, but I think I know what the best employees of Dan’s competitors will be doing today – sending him their resumes.