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Important to note that the salary disparity you point is only for TOP CEOS. In other words, only the largest companies can be accused of this behavior. Most CEOS, while better paid than the workers make no where near 354 times the pay of the average worker. In my company, the CEO makes 3.8 times what I do. Seems fair since he heads a billion dollar company of 6500+ employees. He's worth much more to the company than I am.
According to The Bureau of Labor Statistics there are more than 246,000 chief executives in the United States, with a median annual wage of $173,320. Only the top 350 (or .0014%) make the kind of money your thread title claims.
There is not enough jobs for everyone if they all got degrees or went to trade school but many people will not admit this because they are have a love affair for businesses and CEO's. They do not care about others will suffer or if the economy will get better only the bottom line of greed. It is easier to blame people for not making it so that way you do not have to help them and can continue to hate them.
Important to note that the salary disparity you point is only for TOP CEOS. In other words, only the largest companies can be accused of this behavior. Most CEOS, while better paid than the workers make no where near 354 times the pay of the average worker. In my company, the CEO makes 3.8 times what I do. Seems fair since he heads a billion dollar company of 6500+ employees. He's worth much more to the company than I am.
According to The Bureau of Labor Statistics there are more than 246,000 chief executives in the United States, with a median annual wage of $173,320. Only the top 350 (or .0014%) make the kind of money your thread title claims.
The pay rate percentage above their European and Asian counterparts declines in proportionate ratio.
If you as a business can not pay a person enough to live on that job should not exist. The main reason people have jobs is so they have money so they can live in a house/apartment and be able to eat. What good does giving a bunch of jobs that people can not even live on? Sure some can move on to better jobs but not everyone can. If your a business in this country you have to treat your employees fair you can not just do whatever you want.
Last edited by Storm Eagle; 08-20-2015 at 12:43 AM..
Actually Warren Buffet constantly tries to get his tax rate raised. Warren Buffet is very upset that his secretary has a 2x higher tax rate than himself.
All they have to do is stop avoiding the taxes they should be paying.
It seems that Buffett and his businesses are serial deprivers of tax revenue to the U.S. Treasury. Yet that does not deter him from loudly advocating higher income tax rates for others.
Gates says he pays his personal taxes. Great. But he made all that money from Microsoft which, like other tax-avoiding technology giants such as Amazon, Facebook and Google, uses sophisticated systems to shift paper profits around the planet and evade the designs of governments. Indeed, so extreme are its methods the company was used as a case study in a Senate investigation into US corporate tax avoidance, which found one example of offshoring profits through a tiny Puerto Rico office alone saved it $4m a day in taxes.
They sometimes get that money because they have gathered supposedly the reputation, connections, education and functionality to do that.
Plus you are pointing to companies where the boards represented by stock holders approved by vote of who gets these contracts.
Many times it works out, sometimes it does not.
Going way up with the minimum wage does several things.
#1 Makes all savings in the bank worth far less for those being frugal and saving for retirement.
#2 Makes prices for everything go up to meet the artificial changes in wages.
#3 Would make the cost of buying and maintaining a home skyrocket.
I can go on and on, but the one basic principle pretty much any business school teaches you about wages is you to have make double the wage you are paying the worker. If not, the business fails, goes down, bye bye! This is also applied to the CEO.
So what would a laborer making minimum wage do that could earn the employer $30 an hour for their $15 wage?
All this will do is kill employment for poor blacks, whites and others. You would bring in the advent of more machines to do what we pay now for people to do.
There are cooking machines, ordering taking machines, and of course tons of manufacturing automation as well.
You can say you did something good and feel all tingly inside over this, but economically you are crushing the poor and shutting down further the middle classes with these raises.
Last edited by RCCCB; 08-20-2015 at 03:16 AM..
Reason: left a word out
If you as a business can not pay a person enough to live on that job should not exist. The main reason people have jobs is so they have money so they can live in a house/apartment and be able to eat. What good does giving a bunch of jobs that people can not even live on? Sure some can move on to better jobs but not everyone can. If your a business in this country you have to treat your employees fair you can not just do whatever you want.
I really feel that the American CEO greed that has outsourced millions of jobs to China and India are directly responsible for the decline of the middle class in America. When I was a cab driver, I learned how to live on very little. I scrimped and saved and worked my way thru college, and now I am firmly in the middle class, but can't really afford to retire... not that I want to. But the reality for the Millennials is that even if they go to college and graduate, there is a dearth of good jobs available to them, thanks to American CEO greed.
And these large corporations could raise their workers wages with no negative side effects. Walmart for example could give its low level workers a $5.83 raise, and those workers would make $25,000 a year, and Walmart would not have to raise its prices. Walmart Can Afford To Pay All Workers $25,000 Without Raising Prices | ThinkProgress
Problem is many large corporations consider their workers to be a unit (not a person.) A worker to them is a figure on a piece of paper, something that can be moved to an Asian factory to increase profits, ex.ex.
Perhaps one of the reasons this happens is because CEO's have a 4x greater chance of being a psychopath than the average person. Some of the traits of a psychopath are "the lack of ability to love, callousness, and lack of emotion."
Take a look at income levels and their corresponding average effective federal income tax rates in the IRS publication (Figure B). The average effective federal income tax rate for those earning $1 million or more is 23.4%. The average effective federal income tax rate for those earning $100,000 to $200,000 is only 12.1%, less than half the rate the $1 million or more earners pay.
LIE.. Both Buffet and Gates have WEALTH, and under their proposals their taxes wouldnt be raised.
Buffet keeps his salary at BRK at $100K a year, stopped paying dividens because he didnt want his stock holders to be taxed on the gains, fights the IRS to pay over $1B his companies currently owe in taxes, and then donated all of his wealth to charity upon his death to avoid the taxman..
Stop being Buffets tool, he's a hypocrite, and has wealth, not income. One can always propose OTHERS pay taxes if he's not going to be subjected to them.
Don't forget about his corporate inversion, yet another attempt by Buffett to avoid paying taxes:
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