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I have thought about this for a long time. I am a conservative, fiscally and socially. However, many things do annoy me about some CEO's of some large corporations who make hundreds of millions of dollars. While their companies suffer, or their employees get **** poor benefits or salaries, these guys make out like bandits. The only other countries where this happens is in poor, developing nations where a few rich people take advantage of all the poor.
The ratio for pay is something like 60-1 when back in the day it used to be much more reasonable, 20-1. And that 60-1 is just the average, I am sure it is much higher in certain corporations.
I have no problem with people generating excessive wealth, especially guys like Bill Gates who ran good companies where their employees were rewarded for their hard work. But then you have the big three, who are all falling under. And so many more.
I'm not one to say someone "deserves" or doesn't deserve the money they make, but there is a such thing as excessive. And yes, I believe corporate profits should drop, and become a little less uneven. 20-1 sounds perfectly fine to me.
I look at this way. Why should one person who is in charge of a large company, get 2-4 times their annual pay? If they would take a hugh cut in the perks of being a CEO, and give back to the workers, who are the ones that make the product, they may find that they will work just a little harder.
In this day and age, where companies are asking the goverment to bail them out so that they can keep on going, doesn't it make sense to stop paying all the hugh salaries, benfits, perks?
I have thought about this for a long time. I am a conservative, fiscally and socially. However, many things do annoy me about some CEO's of some large corporations who make hundreds of millions of dollars. While their companies suffer, or their employees get **** poor benefits or salaries, these guys make out like bandits. The only other countries where this happens is in poor, developing nations where a few rich people take advantage of all the poor.
The ratio for pay is something like 60-1 when back in the day it used to be much more reasonable, 20-1. And that 60-1 is just the average, I am sure it is much higher in certain corporations.
I have no problem with people generating excessive wealth, especially guys like Bill Gates who ran good companies where their employees were rewarded for their hard work. But then you have the big three, who are all falling under. And so many more.
I'm not one to say someone "deserves" or doesn't deserve the money they make, but there is a such thing as excessive. And yes, I believe corporate profits should drop, and become a little less uneven. 20-1 sounds perfectly fine to me.
When the economy was good waaaaay back in the 70's the CEOs made 30-40% more than the average worker, now it's more like 400-500%.
This is why the bail out won't work.....it's simply giving our tax money to the extremely wealthy...70 BILLION alone went to the BONUSES of CEOs who CAUSED the problem.......never said these people were stupid! They're laughing and thumbing their noses at us all the way to to their Swiss bank account.
The bail out money COULD have come from eliminating "off-shore" tax havens. All TRILLION of it.....but do you think the wealthy would've ALLOWED that???
Location: Democratic Peoples Republic of Redneckistan
11,078 posts, read 15,078,355 times
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Quote:
Originally Posted by Who?Me?!
When the economy was good waaaaay back in the 70's the CEOs made 30-40% more than the average worker, now it's more like 400-500%.
This is why the bail out won't work.....it's simply giving our tax money to the extremely wealthy...70 BILLION alone went to the BONUSES of CEOs who CAUSED the problem.......never said these people were stupid! They're laughing and thumbing their noses at us all the way to to their Swis bank account.
The bail out money COULD have come from eliminating "off-shore" tax havens. All TRILLION of it.....but do you think the wealthy would've ALLOWED that???
We all make too much money. We need to "give back" to the rest of the world.
We should all take an across the board 50% cut in pay. Then CEO's, doctors and lawyers should make say, 10% more than the average of labor. Athletes, and performers don't need all that money for the type of work they do. They should make an average of national labor costs as well.
It seems to me the Boards that are approving these income levels are not holding their stockholders interest at heart. Why they permit massive payments when performance is pathetic seems they are responsible. The question comes down can I get better performance for less money? if they can then these CEO's need to be termed.
We all make too much money. We need to "give back" to the rest of the world.
We should all take an across the board 50% cut in pay. Then CEO's, doctors and lawyers should make say, 10% more than the average of labor. Athletes, and performers don't need all that money for the type of work they do. They should make an average of national labor costs as well.
We could completely turn this country around!
50% cut? I don't think so. I make $37K, that's before taxes by the way. So I should cut that back to $17K? Hell no, I can barely BARELY pay my bills & rent as it is.
I have thought about this for a long time. I am a conservative, fiscally and socially. However, many things do annoy me about some CEO's of some large corporations who make hundreds of millions of dollars. While their companies suffer, or their employees get **** poor benefits or salaries, these guys make out like bandits. The only other countries where this happens is in poor, developing nations where a few rich people take advantage of all the poor.
The ratio for pay is something like 60-1 when back in the day it used to be much more reasonable, 20-1. And that 60-1 is just the average, I am sure it is much higher in certain corporations.
I have no problem with people generating excessive wealth, especially guys like Bill Gates who ran good companies where their employees were rewarded for their hard work. But then you have the big three, who are all falling under. And so many more.
I'm not one to say someone "deserves" or doesn't deserve the money they make, but there is a such thing as excessive. And yes, I believe corporate profits should drop, and become a little less uneven. 20-1 sounds perfectly fine to me.
While there are CEO's that seem to be robbing everyone nobody wants to talk about how many of them are actually doing this. People see a few names on tv and assume all or most CEO's do this, I doubt it's true.
If I worked for one of those companies I would find a new job.
We all make too much money. We need to "give back" to the rest of the world.
We should all take an across the board 50% cut in pay. Then CEO's, doctors and lawyers should make say, 10% more than the average of labor. Athletes, and performers don't need all that money for the type of work they do. They should make an average of national labor costs as well.
We could completely turn this country around!
No, you need to compare the apples to apples. The common worker in the US might make a bit more than those in Europe, Canada or Japan, but the CEOs in those counties pay their CEOs 20 - 40 times LESS than WE DO - and now the taxpayer continues to do so with bailouts, even though the CEOs showed that they are FAR WORSE than CEOs in Europe, Canada and Japan.
It seems to me the Boards that are approving these income levels are not holding their stockholders interest at heart. Why they permit massive payments when performance is pathetic seems they are responsible. The question comes down can I get better performance for less money? if they can then these CEO's need to be termed.
Look at the names on these boards... All (most) board members are CEO's of other major companies. They give all that stuff away in wages and benefits because the guy getting all of these gifts is going to be sitting on my companies board when they are determining my salary.
I'll take car of you, you take care of me...!
If boards were comprised of share holders, there would be no huge salary's, no huge bonus, no huge buy out after you fail....
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