Great Depression vs Silent Depression: 1930 vs 2023 Numbers Are Shocking
(rumble.com)
💥 ECON COLLAPSE 💥
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And what was the average compensation for a company President/CEO - particularly compared to the average wage earner.
In 1930, the average net yearly income of Americans was $4,887.01. In 2021, the average CEO earned $27.8 million, which is 399 times more than the average worker.
Google A.I
These are the "elites" who know what is best for us.
Like taking guns and censoring free speech
Like mandating equal outcomes regardless of talent or quality of work.
Perhaps there are a couple of questions that could be posed - Mr CEO, why do you NEED over 25 M in compensation? Where is the EQUITY in taking 400 times the compensation of the folks who actually make money for your firm?
...Hear,HEAR!!!
This is the same argument that libs have been making against Capitalism for years. Doesn't anyone else remember all this during and after the Great Recession when they were going on and on about "living wages"?
So what's the solution here? Impose a cap on how much money a person can make?
I've said before that sometimes it feels like I've fallen into Bizzaro world here. This is one of those times.
the root of the problem IMO is the Boards of Directors. There is no independence and no stockholder fiduciary on the board. the relationship is incestuous - Board votes for obscene compensation for the senior executives and grabs a bunch for themselves and nominates other obscenely compensated executives who see this as normal and appropriate. Blackrock et all control the voting at the annual shareholders meeting and so the voice of the common people get squashed.
To you question...no, I woiuld strongly oppose a federally mandated cap. However, I would support revisions to rules/laws regarding outside ownership and membership/constituency of the Board including prohibiting collusion between third party investment funds, eg Blackrock/state street/Vanguard and including private (VC) funds.
Do I argue in favor of a mandated guaranteed "living wage"? No, strongly object. Free markets are based on a willing buyer and a willing seller. If you are willing to sell your labor for a low price, then that is the contract you agreed to. Quit bitching...either find a better paying job or sit down shut up a row. And the thought of the Feds defining the elements that compose minimum living standards and therefore impute a commensurate wage is terrifying.
The CEO of one of the companies I use to work for made $10 million a year plus stock, plus bonuses ,plus fringe benies ,plus a car and jet to travel in.
So are you for or against that?
I dont care what CEOs make, if they are growing the company in a sustainable manner. If not, they should receive much less. Stock buybacks should be illegal.
The solution I would like to find - and I dont have the answer- would be how pay for everyone below the CEO, board, and VP's can go up. The pay curve in many industries is pretty linear below that level in my experience, then has a "knee" that trends up at a much faster rate at the Sr. Director/VP level. The pie doeant have to be finite. Grow the pie and pay everyone underneath more (or at least, the valuable, hardworking ones, work isnt welfare).
That said, without income tax, medicare and social security, everyone would make more.
...compelling observations, nicely stated and framed...
Now compare taxes.
...doggy winks...
...indeed...
https://greatawakening.win/p/17r997aAXW/10-trillion-stolen-right-under-o/c/
...my heart is nodding yes...
...but my brain is telling my shoulders to shrug....