How to Raise Everyone's Salary to $70,000

When Dan Price, CEO of credit card processing company Gravity Payments, decided to raise his entire staff’s salaries to a minimum of $70,000, skeptics questioned whether the plan could possibly succeed. At a time when executive compensation is at least partly blamed for driving the widening income gap in America, Price emerged as a crusader for economic equality. It all sounded great — raise pay, get happier workers — but could Price, 31, and his company actually afford it?