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Since trump didn't actually say 'minimum wages are too high. We can't compete', he said 'wages are too high. We can't compete'. the same people who say that the MSM prints lies about trump, are putting words in his mouth. He didn't distinguish between levels of wages, he said 'wages are too high'. So, it is impossible to 'agree with' what he said on minimum wage, because he didn't say it. He wasn't really talking about minimum wage, he was talking about factory wages.
On to the argument over whether wages are too high or not...
If you look at the typical pay of a factory worker, since that is really what trump was talking about, US wages are high in comparison to factory wages in other countries. But, on the other hand, the cost of living in the US is higher than in other countries.
To be competitive with factory jobs, either the rest of the world has to raise wages, or the US has to lower wages. Which solution is better? Alternatively, the US can bring back manufacturing, and use a lot of robots to keep costs down. That wouldn't bring back jobs, tho.
I agree that CEOs are grossly overpaid. But, I sincerely believe that trump is not interested in doing anything to make CEO pay more reasonable.
Exactly. How does the wage we pay people to change bed pans or flip burgers make give us a competitive disadvantage in the global economy? It doesn't, because we don't compete with China or Bangladesh in retail and food-service.
Trump is speaking, specifically, on those things which can be outsourced; manufacturing, IT and the like. These are jobs that don't pay minimum wage.
I agree that CEOs are grossly overpaid. But, I sincerely believe that trump is not interested in doing anything to make CEO pay more reasonable.
McDonald's isn't going to collapse because an employee in the middle of Montana misbehaves. However if the CEO misbehaves it could bankrupt the whole company. So, no I don't think CEO's are overpaid. People flipping burgers probably think I'm overpaid for sitting in a nice comfy chair working on a computer all day.
CEO's make way too much money, and I'm going to give you a sound CAPITALIST explanation of why:
I'm sure you agree that a CEO's responsibility is to generate revenue and value for the company's owners; the shareholders. Right now, we've come to a place where executive compensation is out of line with shareholder interests. This is because Boards of Directors are more interested in propping up their peers; the global business elite. The CEO of one company is on the board of directors at another, and vice versa. This inter-connectivity allows these people to enrich themselves and their peers, at the expense of the actual OWNERS of the companies. Large institutional sharehoders, like state pension funds are the real owners of these businesses, but very little is actually done in their direct interest.
CEO's make way too much money, and I'm going to give you a sound CAPITALIST explanation of why:
I'm sure you agree that a CEO's responsibility is to generate revenue and value for the company's owners; the shareholders. Right now, we've come to a place where executive compensation is out of line with shareholder interests. This is because Boards of Directors are more interested in propping up their peers; the global business elite. The CEO of one company is on the board of directors at another, and vice versa. This inter-connectivity allows these people to enrich themselves and their peers, at the expense of the actual OWNERS of the companies. Large institutional sharehoders, like state pension funds are the real owners of these businesses, but very little is actually done in their direct interest.
"Right now, we've come to a place where executive compensation is out of line with shareholder interests."
Hey, people are entitled to their own OPINIONS.
That does NOT mean that EVERYBODY agrees with them.
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