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If we agree on this point, how do you propose to identify and restrain the (relatively) small number of instances? The nature of entrepreneurship (including the sham of "crony capitalism") is such that wealth tends to gravitate to a relative few entities -- and that can be linked to Madison Avenue and our oooh!-so-"trendy" consumerist society.
If you want to restrain this, a part of the process would be to restrain our teenyboppers from blowing every cent at the same mall every weekend, or holding "fun" summer jobs at the local corporate-owned theme park. That's not gonna happen, nor would most of us want it to happen.
It is not limited. It is part and parcel of the whole start up game and permeates corporate America.
The way to end it is to end the flood of free money available to nefarious CEOs and Boards who are doing nothing more than layering debt on corporations while transferring money into their own pockets.
In short, normalize interest rates and bring back prudent borrowing and lending. The stuff that created a robust middle class for 70 years.
It's nice that you've found a scapegoat but it's not going to help your situation.
The bottom line is that for a while post WW2 the US was the only game in town and you could live a nice comfortable life with little education and just showing up to the local widget factory etc.
That door has been closing for decades.
It is now a global economy and if you have little education and no skills....you're in a world of hurt expecting to make a good living in this country....especially when anyone can find an illegal (there are milllions) to carry bags of dirt, paint houses and so forth.
Get a real education. Take your kids to the library and work with them at math instead of watching Jersey Shore etc. If you aren't strong with academics then at least learn a skill like plumbing, electrical and work hard.
It's not as easy as your grandparents had it, tough luck.
You can whine about it and hope that you'll get paid more for your utter lack of skill and pray that one day a magical prince will come and pay you $20/hour to be a sandwich artist.....or you can work hard and learn something.
It's nice that you've found a scapegoat but it's not going to help your situation.
The bottom line is that for a while post WW2 the US was the only game in town and you could live a nice comfortable life with little education and just showing up to the local widget factory etc.
That door has been closing for decades.
It is now a global economy and if you have little education and no skills....you're in a world of hurt expecting to make a good living in this country....especially when anyone can find an illegal (there are milllions) to carry bags of dirt, paint houses and so forth.
Get a real education. Take your kids to the library and work with them at math instead of watching Jersey Shore etc. If you aren't strong with academics then at least learn a skill like plumbing, electrical and work hard.
It's not as easy as your grandparents had it, tough luck.
You can whine about it and hope that you'll get paid more for your utter lack of skill and pray that one day a magical prince will come and pay you $20/hour to be a sandwich artist.....or you can work hard and learn something.
After reading this, I'm starting to think that the U.S. needs to take this sign off of the Statue of Liberty !
"Keep, ancient lands, your storied pomp!" cries she
With silent lips. "Give me your tired, your poor,
Your huddled masses yearning to breathe free,
The wretched refuse of your teeming shore.
Send these, the homeless, tempest-tossed to me,
I lift my lamp beside the golden door!"
That sign was created in France as was the Statue of Liberty. Like the rest of Europe, they used the United States as the dumping ground for their poor people because the United States had a labor shortage and a plethora of natural resources. Fast forward to 2016 and economic conditions have changed. There are 7 billion people in the world. Over 4 billion of them are below what the United States sets as the poverty level. The first world can't be the dumping ground for 4 billion poor people. Look at what's happening in Europe with the Syrian refugee problem. The Nordic countries have completely shut the doors. Angela Merkel has announce that the refugees have "temporary" status in Germany and her party will be booted out of power a year from now in the next election if "temporary" doesn't turn into "deported" by then. NATO just dispatched the navy to police refugee smuggling in the Med. The United States has a glut of unskilled labor. It would be public policy insanity to allow more unskilled immigrants to come in. We can't employ the ones we have.
This all ties into the whole CEO socioeconomic class envy thing that anchors this thread. The United States is a Libertarian-leaning democracy with a smattering of Democratic Socialist public policy like Social Security, Medicare, and a very bare bones safety net for the poor that still insists that most work. The US Constitution is all about property rights. The smart, motivated people are protected to become successful. A CEO is an example of that. It is what has made the United States the most powerful nation on the planet. The problem with the whole Libertarian thing is that it is very Darwinian towards people who aren't economically successful. That creates all the socioeconomic class envy that spawns threads like this.
CEO Salary has not risen by that much. CEO total compensation has, most of which is in the form of stock options.
Shareholders should be more upset about this than employees. Most are paid directly in stock options, which dilutes shareholder value. It has no impact on the business at all.
Average CEO Salary for the fortune 500 is 3.5 million.
CEO Salary has not risen by that much. CEO total compensation has, most of which is in the form of stock options.
Shareholders should be more upset about this than employees. Most are paid directly in stock options, which dilutes shareholder value. It has no impact on the business at all.
Average CEO Salary for the fortune 500 is 3.5 million.
This is the main issue or at least a slight tangent to the issue you raise. I think we have reached a tipping point between so much of CEO compensation being based on stock options and the short attention span that Wall Street seems to have now that many executives seem to execute strategies designed solely for short term stock price increases but at the detriment to the long term health of the companies they are supposed to be leading.
CEO Salary has not risen by that much. CEO total compensation has, most of which is in the form of stock options.
Shareholders should be more upset about this than employees. Most are paid directly in stock options, which dilutes shareholder value. It has no impact on the business at all.
Average CEO Salary for the fortune 500 is 3.5 million.
Both shareholders and employees are the big losers after a corporation goes belly up because the CEOs and Boards have together gutted the corporation. That is how CEOs become fabulously wealthy. Money in their pockets. Debt for the corporation. Simple formula and tactic
This is the main issue or at least a slight tangent to the issue you raise. I think we have reached a tipping point between so much of CEO compensation being based on stock options and the short attention span that Wall Street seems to have now that many executives seem to execute strategies designed solely for short term stock price increases but at the detriment to the long term health of the companies they are supposed to be leading.
The critical element to understand is that this is all made possible because corporations can keep borrowing money for stock buybacks. The only way to shut down the game is by shutting down the easy borrowing spigot. Ultimately it is a derivative of Fed policies which simply didn't exist prior to the repeal of Glass-Steagall.
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