Sign Of The Times

Discussion in 'Politics' started by Cammmpbell, Oct 15, 2011.

  1. Cammmpbell
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    Cammmpbell Senior Member

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    In the late 40's and 50's a corporate executive earned about 5-10 times what
    a carpenter earned. By the 1970's that factor had increased to 50 times as much.
    Guess what it was last year? Yes sport's fans a whoppin' 550 times what an
    ordinary American worker earned.

    They demand tax breaks for everything from
    their private jets to their $15,000 umbrella stands. They write off three martini
    lunches and tours to the south of France on their annual taxes. They load up their boards
    of directors with a bunch of YES men/women and fix an umbrella to ensure that they get rich
    if their company is sold or fails.

    In the 1950's while we were paying for the second world war the marginal tax
    rate for anyone who made more than $300,000 a year was 91%. In other words
    anything they earned over $300,000 only cleared $9,000 per $100,000.

    In the old days all of us served in the military. Richard Nixon stopped the
    draft and took us off the gold standard. When that happened a $20 bill would buy
    a $20 gold piece. Now it takes about 85 $20 bills to buy a $20 gold piece

    This country has fallen into the hands of a bunch of wealthy assholes who
    think they owe nothing. Their offspring attend an ivy league school while the
    offspring of the less fortunate go to some desert shithole and fight an die for
    their made up wars. I've lived long enough.

    The absolute bullshit going on in this country now has gotten out of hand and I am
    no longer even a little bit proud of it. I was born in 1934 and now it looks like I'm going
    out in the same kind of Republican mess which was there at that time.
     
    Last edited: Oct 15, 2011
  2. bucs90
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    bucs90 Gold Member

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    Want carpenters to earn more? Stop importing Mexicans who push the wages down.
     
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  3. syrenn
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    syrenn BANNED

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    And what do sports professionals make?
     
  4. Rozman
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    Rozman Gold Member Supporting Member

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    In the sixties I made $150.00 a week and rent was the same.
    The most money spent to make a movie was $8 million.
    Athletes made maybe $100,000.00 for the best player....
    A movie star didn't even come close to a million.



    Now look at those costs and salaries.

    The market pays what the market can pay.
    No one or not many people care about these folks getting huge rewards.
    If the shareholders don't have a problem what is Obama gonna do>Limit compensation
    to CEO's...I doubt that will ever happen even though the left would love that.
     
  5. LoneLaugher
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    LoneLaugher Diamond Member

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    Look out! That sounds like a sneaky trap. Better not walk into it!
     
  6. Cammmpbell
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    Cammmpbell Senior Member

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    "The tea party was a revolt against TAX CUTS. "

    The T party is a bunch of ultra conservative right wing hacks.
     
  7. ladyliberal
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    ladyliberal Progressive Princess

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    I too once felt that CEO compensation was largely determined by market forces. However, a talk I heard by a business professor really turned me around. He had plenty of data showing that American CEOs today make much more (in real terms) than either earlier cohorts of Americans or than foreign CEOs, and that this could not be traced to changes in either supply or demand. Indeed, some American companies import foreign CEOs largely because they work for less money (there are of course other reasons to import foreign CEOs, particularly for international companies).

    This professor instead traced the rise in CEO pay to various moral hazards on the part of those determining CEO compensation. Most corporate directors also see a problem here: Poll: CEO pay needs reform - The Hill's On The Money.

    I also disagree that the public does not care about the issue. When corporate compensation is seen as excessive, it can spark sudden outrage, most notably when the AIG bonuses were announced. That was of course a special situation where public monies were involved, but I think most people find corporate pay excessive, though most probably don't find it to be an overriding concern.
     

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