I get what you are saying but in one sentence you tell him to get a dictionary and then int he next you say these executives pay themselves. LOL you are so wrong on so many levels. CEO pay and benefits are just about always set by the board and shareholders. And contrary to what most think, they do in fact do more than sit in a chair. The only cases where what you said is true are when companies are private and the CEO owns the company. Hint: owns, so its theirs to do with as they please.
Working at McDonald's is not a career if you are flipping burgers. Just because they have a job doesn't require that they be paid as such to support a 3 kid family.
Last year the nations major companies paid their CEO's 12.3 million dollars on average. Those same companies paid their remaining workers an average of $34,645. CEO's made roughly 374 times what the average worker does. No one is so uniquely qualified that they deserve to make 374 times as much as the people working for them and it is part and parcel of the problem with our economy today. And you are right, CEO's do more than just sit in a chair but to insinuate that they deserve 374 times more than their average worker is crazy. Executive pay is indeed set by the board and shareholders but it still is no excuse for the disparity. I'm not against the best and brightest making great money but when it gets to these levels it is out of control.
I said nothing of deserving, but the moment you tell a company what is "acceptable" to pay people, well you know where that is going to go. I do agree the government can set a minimum wage, but it shouldn't be a wage that is pulled out of someones ass because it sounds good. I just don't see any feasible way you tell a corporation or a business owner they "can't" pay a CEO in millions unless the rest of their workers make more. There are jobs that just aren't mean nor should they be the type of job to support a family. Flipping patties is meant for kids IMO. The overwhelming sad fact is that we have an education problem here in the U.S. It is severely lacking. There are VERY good paying jobs and lots of them, but when people graduate with shit degrees, well, whose damn fault is that.
Shareholders almost never get to set executive salaries. Most stockholder salary approvals are not binding upon the executives. Boards are cherrypicked by the executives, well paid themselves, and rarely reflect the wishes of the stockholders. They lavish money upon the executives and rarely have to answer to the actual owners. Corporate executives have very few checks and balances and this has become a big problem with runaway corporate greed as a result. Efforts to change the system have run into brick walls. http://www.nytimes.com/2012/06/17/b...-climbing-despite-a-shareholder-din.html?_r=0
Not always so. Don't you think LeBron James is "uniquely qualified" to be paid at least 374 time what you or I wouof be worth to play basketball? By the same token if a CEO of a business is able to bring in billion dollar contracts or direct the marketing of the company's products in a way that results in huge profits he is worth way more than a guy who sits at his desk all day watching porn and arguing on internet message boars?
Again you are so full of it. It is an absolute fact the overwhelming majority of boards sole purpose is that of shareholder profit maximization. That is why the real good companies set the majority of CEO pay in future stock options so they can't just prop up a company and dip out. It has to grow over the long haul.
Companies cannot make money without productive employees who also deserve a piece of the action. If somebody is being paid to "watch porn and surf the net" then that is a failure of the CEO. Of course, a successful corporate executive can be worth more than a successful research director or a successful factory supervisor. Twenty times as much, perhaps. The way it is in most of the world and was here until recently. But 300 to 500 times as much? That is blatant corporate greed.
Okay here is the thing, if you listen, and listen closely you will hear the word inequality and happy and not about making money. To take the majority of his workforce and give them a 30k raise just so they can be "happy" what exactly does that say to those that were making more than that? What about the guy that was doing a job that warranted a 70k salary, now the freaking janitor is making as much as he is. It wreaks of socialism and if I were a business owner I care about productivity not happy. I care about competition and objectives and ambition. Doing this takes ALL of that away and he just opened up the pandoras box of slackers. Nice guy, sure. Smart guy, no way. Bottom line is we are not fucking equal and it is time the cry babies realize this. Some earn more than others for a plethora of reasons, its life.
