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How about defining how much is a "fair amount of money" in your mind
A million a year is more than enough for anybody. Don't you think? I know many people that work just as hard and sacrifice for a lot longer and get a lot less than that. They're called doctors (and I'll argue they do a lot more good in this world than your average CEO) I think anything more than a million a year is beyond excessive.
I know you're just going to say whatever the free market gives them is fine and then just blindly follow the will of the market.
The main justification for the exhorbitant pay that American CEOs receive is that they made the company do well. What about the rest of the employees in the company? Don't THEY deserve some credit? Why aren't all employees in a corporation rewarded if it does well. There should be a set limit, like the CEO should not receive more than 50 times the average worker's pay. Some of them now get 400 - 500 times the average worker's pay! No wonder other countries shake their heads in disbelief. The head of the biggest bank in the world is Chinese and he makes less than $300k a year!
'You wouldn't know it by his pay stubs, but Jiang Jianqing heads the world's largest bank.
Jiang, chairman of Industrial and Commercial Bank of China, made just $234,700 in 2008. That's less than 2 percent of the $19.6 million awarded to Jamie Dimon, chief executive of the world's fourth-largest bank, JPMorgan Chase & Co.'
"The U.S. executive pay levels have always dwarfed pay for companies elsewhere in the world," said Sarah Anderson, a fellow with the Institute for Policy Studies, which is critical of Wall Street, and co-author of the recent study "America's Bailout Barons'
'To "rob" banks, as Friedrichs regards the CEO pay process, executives walk into a corporate boardroom and secure from the board's compensation committee unjustified compensation packages of millions, tens of millions, and sometimes hundreds of millions of dollars.
This process, says Friedrichs, "pays much better" for CEOs than robbery does for the crook with a gun.
These compensation committees, appointed by the CEOs, are composed of cronies, paid consultants, and even relatives, says the criminologist.
By law, some corporate directors must be "independent."'
do they tell you that china is a capitalist in the world but prevents its onw people from enjoying it chinese people should be allowd to practice capitalism in there country just like the chinese are allowd to practice capitalism in the world
A million a year is more than enough for anybody. Don't you think? I know many people that work just as hard and sacrifice for a lot longer and get a lot less than that. They're called doctors (and I'll argue they do a lot more good in this world than your average CEO) I think anything more than a million a year is beyond excessive.
I know you're just going to say whatever the free market gives them is fine and then just blindly follow the will of the market.
Then, you would also put a cap on Athletes?
Frankly, I don't know if a Million Dollars is sufficient - everyone is different. Everyone has different Needs - Wants - and Motivations. For some a Million dollars may seem excessive. To others, it is not.
Some are fine with a small home. Others want a big home. I don't have a problem with either desires. For instance - there is my wife and I. And a VERY spoiled Dachshund - and we have a 6000 sq ft home. We designed it to incorporate all the "things" we had wanted in a home. And, we entertain a lot. I mention this because our lifestyle may be different from others.
So, I do not, and can never, support any sort of income cap on anyone - especially a cap arbitrarily put in place by the Government.
Should CEO pay restrictions spread to all corporations?
No. Freedom and Capitalism is the reason why this country is great. You can easily in one generation go from poor to rich as long as you work hard, be responsible and are smart about it. God bless we get through this mess and the current socialist revival.
A million a year is more than enough for anybody. Don't you think? I know many people that work just as hard and sacrifice for a lot longer and get a lot less than that. They're called doctors (and I'll argue they do a lot more good in this world than your average CEO) I think anything more than a million a year is beyond excessive.
I know you're just going to say whatever the free market gives them is fine and then just blindly follow the will of the market.
I don't see anything wrong with capping a ratio of CEO pay to the average company worker's pay. Companies do not succeed in a vacuum. This is where American greed has gone completely out of whack. In Canada and Europe the average CEO gets 1/20 what American CEOs get, and an Japan it is 1/40. If a company does well, ALL empoyees should get bonuses and raises. Too often the American CEO pillages the bottom line, only to see the company fold later.
Location: By the sea, by the sea, by the beautiful sea
68,329 posts, read 54,389,283 times
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Quote:
Originally Posted by Visvaldis
American CEOs should get as much money as they can get their hands on. That's the American way. Don't tamper with it. Plus, a large segment of Americans are rooting for the CEOs!
Yep - and both are totally socialistic nations / countries
Less greedy, more intelligent - tastes great!
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- and we have a 6000 sq ft home. We designed it to incorporate all the "things" we had wanted in a home. And, we entertain a lot. I mention this because our lifestyle may be different from others.
