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Here is a simpler way to fix the economy: the answer is "pork," but not as much pork as Bush, Obama, and Congress have created. This figure has already reached over $1-trillion, I believe. So, all Bush, Obama, and Congress had to do was to arrange for every American to receive $1-million, tax free. The total pork would have been a figure between 300 and 400-million, not a trillion as it is now.
This way home owners (not the super rich of course) could have paid their mortgages, and bought a car or two, killing two birds with one stone: the housing problem, and the automobile industry problem.
LOL.. actually I like that idea..
But then we, each individual, didn't have lobbyist in Congress and politicians inour pocket.. so we didn't get that.. LOl Oh well
The point I am trying to make is really this....it would be great if CEOs would take ownership of their corporations and voluntarily suspend and/or cut their pay and bonuses but to make them? That to me is a little too much like a little thing called the cultural revolution. I don't think we want to go there!
Besides, if you want to talk unbridled greed lets talk about the politicians. Our senators and congressmen make far more then the average American -- and worse still they are making it on our backs! Furthermore, lobbyists who attempt to bribe our politicians into seeing things their way tend to be rich little bastards themselves.
I just think that CEO's salaries are RIDICULOUS.. and they award it to themselves as a pat on the back.. it's obscene. They lay of thousands of workers while they collect their obscene salaries. Wouldn't it be nice if they actually had a concience and turned around and said.. hmm.. I make an obscene amount .. what i fI cut back my excessive salary so i can save a few thousand jobs.. 1 man is not as important as 10,000 men!!
Once again, your fingers are clicking away but you are not thinking about the math. A few thousand jobs (say 3,000) would amount to $225 million average US jobs (including benefits). What is the median CEO pay, inlcuding stock options, of the Fortune 1000? About $8 million.
For certain there are some statistical outliers. Their pay, however, is between them and their Board. As a shareholder of several large companies, I always read the Proxy statement and vote against anyone I think is getting paid too much.
I would also attempt to make certain that large corporations pay income tax (most do not). I'd love to know how much revenue the government loses out on each year because of that. Enough to cover a good portion of the stimulus I'm sure.
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Originally Posted by Repubocrat
I do not disagree with your point, however I sense a bit of hypocrisy here. Democrats always talk about how much CEO's make, etc yet they do not seem to be bothered by how much a Hollywood actor/actress makes.
I've never considered myself a democrat, but I'll take a shot at an answer.
I don't think that anyone believes that Angelina Jolie is worth $10 million per film (or whatever she makes). Of course, I don't like many actors/actresses. But if she didn't make that much, it would go to the movie studio (more jobs possibly?).
Sports stars salaries are out of whack too. But in sports, if the stars didn't make that money - it'd collect in the owner's bank.
And TV personalities too. Remember ... Seinfeld (loved that show) - I think each of the main actors made $1 million per show near the end of the series anyway. Or maybe that was friends. Rush makes $33 million per year. Hannity $20 million. I know Olberman isn't broke.
Now CEO's - its difficult for me to judge their performance (easy in sports and movies) other than watching their stock price. And regardless of their performance, I don't think anyone deserves to make 400 times what their employees make.
I think it would be great if there wasn't such a huge financial incentive to "be a star!" - so many people seek to make a living in entertainment, although that seems to be what we're best at these days.
I'd love it if teachers made a boatload - in the hopes that teaching becomes hugely prestigious (should be anyway) and hopefully creates competition for the positions, so only the best of the best actually end up teaching our children.
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Also, how about limiting compensation for politicians? I would love to see that Nancy Palosi have her private jet taken away. Limiting compensation is more of a Socialist-Communist idea where big government tells the citizens how succesful they can actually be, it goes totally against what this country is all about.
Do you mean not allowing them to vote themselves raises?
Is Pelosi the only one with a private jet, or is that targeted specifically at Pelosi only?
Take away all their private jets - I'm ok with that.
The point I am trying to make is really this....it would be great if CEOs would take ownership of their corporations and voluntarily suspend and/or cut their pay and bonuses but to make them? That to me is a little too much like a little thing called the cultural revolution. I don't think we want to go there!
Besides, if you want to talk unbridled greed lets talk about the politicians. Our senators and congressmen make far more then the average American -- and worse still they are making it on our backs! Furthermore, lobbyists who attempt to bribe our politicians into seeing things their way tend to be rich little bastards themselves.
In my view, the private sector (companies) should pay CEO's whatever amount they wish or can afford. After all, it's up to the shareholders to give their money away to CEO's or not. If they give more than what they earn by selling a product (s), then the company goes broke.
I was thinking and thinking while in the shower .. more so about the thread about healtchare. Those who know my posts know my disdain for corporations in this country.
Seems to me like the housing market started this whole mess.. but it's gone WAY beyond that. Many people are loosing their jobs and not spending anymore money (or using their credit..etc etc). Here's my idea;
American companies need to check themselves. All this whining about how they can't compete on a global market.. a lot of it is legit. But I have some ideas to help them.
1) Overbloated, absolutely obscene and simply ridiculous executive compensations. I mean what.. is a CEO the GOD of the company .. sorry, no . The workers are just as important if not more so than 1 stupid CEO!!! and becasue you paid yourself so obscenely.. rather than cut your obscene salary you've now contributed large numbers to the unemployed number.. and um. .guess what.. THEY are the consumers that STOP BUYING YOUR PRODUCT BECAUSE THEY HAVE NO JOB AND NO INCOME TO BUY IT
CEO's make more money than DOCTORS.. and I don't recall a CEO every saving anyones life as part of their job!!!!
2) Corporate Jets.. REALLY!!! WHY!!! Ridiculous.. fly First Class if you must.. much cheaper than upkeep and fuel for your stupid corporate Jet so you can say "Mine is bigger than yours"..
Talk about EXCESS.. those at the top of the most guilty of excess!!! AND that excess costs the rest of us our jobs, our livelihood and probably the roof over our head. So .. while your sitting in one of your 3 or 4 mansions and flying in your corporate or private jets.. just remember that probably thousands of families are losing their home because they lost their jobs while you took your obscene salary!!!
Just think.. if we didn't have to overcompensate them then perhaps we could be a little more competitive with the global market.
Don't even get me started on healthcare.. because we all know what should be done about that!! and how it shouldn't be tied into employment.. but then again.. if they didn't have to pay those overbloated executive salaries the damage from health insurance wouldn't have as much of an impact.
If all the CEO's took pay cuts, they may be able to keep more employees which may keep more people with incomes to buy products and services so that we dont' continue this spiral.. but alas they are way to selfish for that.
I said the exact same thing a few days ago. Think it will happen?
Isn't freedom of speech wonderful. It is so refreshing to see someone have an answer to the problem rather than being depressed and complaining. Good old American knowhow. That is what will fix the economy. And those who have money need to go out and spend it before the banks lose it. We are looking for a car right now.
Your "solutions" are misguided -- perhaps you should've taken a cold shower...the key to bringing back jobs is removing barriers to trade and rewarding achievement...look at what's happening in California...the control freaks are driving people out of that state in droves...
American companies need to check themselves. All this whining about how they can't compete on a global
market.. a lot of it is legit. But I have some ideas to help them.
Top marginal tax (taxing wealth) is what made America great for many years,
until Reagan came in and changed everything and the middle class went down the toilet and factories moved to China and India.
Is it a coincidence that when the US had high top marginal tax the middle class was doing good?
And before the Great Republican Depression it was low.
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