$70K Minimum Wage 'Experiment' Reveals a Dark Truth

Earlier this year, a small Seattle-based payment processing company made headlines when its 31-year-old CEO made a rather jarring change to the company’s pay structure: Gravity Payments would pay all employees, at a bare minimum, $70,000 annually. It was met with a variety of reactions, ranging from those who said CEO Dan Price was establishing himself as a working-class hero, to those who thought he was actively destroying the fabric of society as we know it.