Posted on 05/21/2015 2:19:19 PM PDT by Oldeconomybuyer
I see that unions, led by the Service Employees International Union, are out in full force championing the $15 an hour minimum wage. Business leaders scoff at this.
The average CEO earns just over 350 times as much as the work force below. Those executives need to come down from the stratosphere and breathe real air.
If we truly want to make that happen, how about joining the new $15 minimum wage with a $15 million maximum income? Could CEOs somehow manage to subsist on that? I think so. And then all of us could live pretty comfortably and in relative equality. Wouldn't that give us a new New Deal for contemporary times? It's a deal that could sweep from the table the rickety house of cards that we call the free enterprise system.
I know my proposal for a 15 million dollar wage maximum isn't going to cause elation at Fox News and take off big in a stalemated America. Whatever brings real benefits to people at the bottom is somehow made to seem divisive and to trumpet the sound of class warfare. But there's worth in pushing this remedy for inequality into the national dialogue. A trumpet blast might create a breeze that over time topples our tilted house of cards and makes way for a more balanced one. That would be a house of democracy, having a solid foundation and a proper roof.
(Excerpt) Read more at huffingtonpost.com ...
Sure, what could go wrong?
It’s pretty much what FDR did with his 91% top income tax rate (he wanted 100%....91 was a compromise with the Republicans!)
OK, How does limiting the pay of the top executives increase the wages or job prospects of those at the lower end of the spectrum? Also why stop at $15 hr? Why not $50 an hour. At $100 grand per year we could effectively call all Americans rich and end all social welfare programs. Better yet make the minimum wage $300 an hour and everyone will be part of the 1%.
Answer: because a minimum wage is just a made up number with no bearing on reality. Minimum wages actually hurt those with the least skills and the least education and training. It is an attack on the poor and the minorities in society. With high minimum wages, teenagers are unable to compete with those with more experience and job skills.
The desire to punish those with more than you is jealousy and it is also stupid. There is no correlation between the amount of money a CEO or Hollywood actor makes and the wages of the average or lowest paid worker. What causes poor pay is poor job skills and a stagnant economy coupled with massive illegal and legal immigration driving down the wages of the average worker.
That is a cherry picked statistic that in no way reflects reality.
How much to the heads of the AFL-CIO, SEIU, Huffington Post “earn”?
BTW- what does HuffPo pay their writers??
Not the proper role of government to decide “who” makes “what”.
——The average CEO earns just over 350 times as much as the work force below. -——
That has proven to be a lie...those numbers only are for the top pay of 1% of CEO’S
The real ratio is 60 to 1...
of course not!
That's why some CEO's famously pay themselves a $1 salary.
How on Earth did the federal government....or state and city governments decide that they had the right to determine what an employer had to pay an employee.
If you want a job in my business, and you and I decide that you will start at $12.00 per hour....why does some outside source decide that they can better determine our business agreement than we can????????
How about those millions the news Anchors make like Matt Lauer, Katie Couric, Stuffenotalotofus (105 million for him alone).
Only a college professor could dream up a concept where limitations on economic liberty equate to a better democracy.
Those guys are way way overpaid
They should be paid $15 an hour
Quite right, but there is a problem with the way managers, especially top managers, are compensated: it is no longer under the control of those they work for, to wit the shareholders, and often has little correlation with delivering value to the shareholders (if you doubt that, just remember the meaning of the phrase "golden parachute").
Compensation for managers is decided by other professional managers, who act in the guild interest of managers, against the interests of shareholders, consumers, and non-managerial employees. This phenomenon is not limited to commercial enterprises -- the same corruption is found in academe, other non-profits and government -- in all cases those with fiduciary responsibilities have come to regard their positions as existing for their own enrichment, rather than the benefit of those for whose good or goods they are in theory paid to oversee. I have dubbed the phenomenon the Era of the Bad Stewards, though I suspect it has been seen in previous Kondratieff Winters.
At this point it should be the role of government to re-empower shareholders so that the owners of businesses have more say in the running of the business and deciding who makes what in terms of compensation, rather than it being entirely in the hands of the professional managerial class.
Or is it just for people that actually accomplish something?
Like you know, white guys?
Jay Z and Beyoncé are worth over a BILLION .
I wonder if this idiot includes them?
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