Success is Simple… So Sayeth the Liberal

Amarxica ^ | 9/27/06 | John Reit

[libertarianPA]

Talking to a colleague recently, the subject of CEO salaries arose. Once again, I gained great insight into the liberal mind.

He started by stating his astonishment at some figures. “In England,” he began, “the difference between the salary of a CEO and an average worker is 24 percent. Here, it’s 416 percent (unconfirmed, but I’ll give him the benefit of the doubt)! That’s ridiculous.” Knowing industry is far more ambitious and less burdened here than in England – and finding myself more and more these days in the role as a defender of free market capitalism – I retorted, “Well, consider the fact that when Jack Welsh took over General Electric, the company was worth $15 billion. When he left after 20 years, it was worth over $300 billion.”

This person’s response was really not so much based in logic as it was in blind liberal belief. “Four hundred sixteen percent,” he said. “End of story.”

[wbill]

I think that CEOs are underpaid. They serve at a whim of the board and of world events. If the company goes belly-up after, say, a terrorist attack on 9-11 - it's their fault and they take the blame regardless of where it really lies.

I would rather see Execs get massive salaries than overinflated bonuses or stock options. I think that the latter encourages short-term planning to 'diddle' with the stock value, rather than long term sensibility. But that's just my opinion. When I'm an exec, I may feel differently. :-)

[Hugin]

My guess is the average CEO makes 416 TIMES what the average worker makes, not 416% more.

[Doogle]

...what the author should have pointed out to his socialist friend....was the very essence of the socialist agenda is spreading the wealth (taxes)
...he should have reminded him that the top 50% of American's pay 96.54% of all income taxes..the top 1% pay more than a third..34.27%

Doogle

[NickatNite2003]

Liberal mindset: Success for the poor masses can
be had only by dragging the successful minority,
back down into the mud with them.,,where everybody
is, and has the same-same equality...in other
words: 'Socialism'.

AKA: the tyrannical buraeucratic enslavenent and
eventual death of the human spirit.

Tell you what to think, what to feel, what you
can and cannot eat..tell you what you believe in,
and who you can love, and take your children from
you to raise in souless, amoral serf-u-cation
"institutions"...for your own good, of course.

The 'Food Gestapo' is just one of their newer
branches of their burgeoning fifth column politboro.

[EQAndyBuzz]

What you forgot to add is that those people who create and practice that Liberal mindset are very wealthy individuals who would rather die then eat at Mickey D's.

[NickatNite2003]

So true....

[Right Cal Gal]

And yet...you never hear the libs screaming about incredibly inflated salaries of ACTORS - $17,000,000 for three months work, plus all expenses paid; $1,000,000 per week for a television series. I guess it doesn't bother them when the little "go-fer" on the set is making $11 an hour, right?

[Who Dares Wins]

I don't know what companies in England he was referring to, but I can assure you the gap between CEO and average worker is far larger than that quoted.

[agere_contra]

I don't know what companies in England he was referring to, but I can assure you the gap between CEO and average worker is far larger than that quoted.

Absolutely. From my experience its about four or five times - i.e. pretty much what it is reported at in America. A 24% difference between "average" staff and CEOs would mean that UK CEOs would be earning about 28K a year. Which would be about half what a UK Doctor earns, for instance. We are looking at ludicrous liberal statistics, basically

[RipSawyer]

I would rather see Execs get massive salaries than overinflated bonuses or stock options.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

What about CEOs who get massive salaries and massive bonuses while the company bleeds money quarter after quarter and worker's wages are actually being cut?

[Spirochete]

Someone who makes double my salary makes 100% more, triple is 200% and so on. Ted kennedy's base salary is 260% more than mine, before his lavish bennies and multimillion tax-free retirement is taken into account.

[slowhandluke]

I think that CEOs are underpaid. They serve at a whim of the board and of world events. If the company goes belly-up after, say, a terrorist attack on 9-11 - it's their fault and they take the blame regardless of where it really lies.

What?? If the company goes belly up, all the employees suffer, but the CEO suffers less because of the $$ received. Considering how many CEOs go on to other jobs after failing, I doubt very much that the 'blame' has a monetary cost.

Considering how many times a CEO has likely passed on blame for failed projects to his advisors, underlings and the project employees (who get laid off), it would likely be just karmic justice for the CEO to get blamed for a collapse caused by external events like 9/11.

Should the double tax on dividends be cancelled, those extravagant pay packages would be cut fast. The CEO would have to either pay out dividends or show good growth to keep their jobs.