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Old 03-04-2013, 11:15 AM   #1
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Default Wealth Inequality in America

Enjoy the video.

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Old 03-04-2013, 05:00 PM   #2
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In a thread here I once posed the question that video does:

Is the CEO of a company worth 400x the contribution of the average employee? Why or why not?

No one cared to actually answer.

An remember, that's the average CEO, not the worst.

Tim Cook (CEO of Apple), makes 2,500x what his average employee makes. What could one person do that even remotely justifies that amount of money compared to the folks actually doing the work? One of the top engineers (not even the average!) who actually designs and makes Apple products has to work months to earn the money Tim Cook makes in an hour.

I really want to know what people think justifies that.
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Old 03-04-2013, 06:48 PM   #3
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Originally Posted by Fedaykin View Post
In a thread here I once posed the question that video does:

Is the CEO of a company worth 400x the contribution of the average employee? Why or why not?

No one cared to actually answer.

An remember, that's the average CEO, not the worst.

Tim Cook (CEO of Apple), makes 2,500x what his average employee makes. What could one person do that even remotely justifies that amount of money compared to the folks actually doing the work? One of the top engineers (not even the average!) who actually designs and makes Apple products has to work months to earn the money Tim Cook makes in an hour.

I really want to know what people think justifies that.
Their argument would be that is what the market decided when the CEO and the board agreed to the compensation package.

With regards to the ever growing inequality, the apathy and numbness towards the current march to neo-feudalism is disheartening. Why Occupy hasn't been more of a force is also troubling. Republicans are good at personalizing what voting for them means, the last time I can remember the Democrats doing that was in the 60's and 70's. Though they do have it in gay rights, but it's not enough.

Last edited by El Minion; 03-04-2013 at 06:51 PM..
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Old 03-04-2013, 06:59 PM   #4
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Originally Posted by Fedaykin View Post
In a thread here I once posed the question that video does:

Is the CEO of a company worth 400x the contribution of the average employee? Why or why not?

No one cared to actually answer.

An remember, that's the average CEO, not the worst.

Tim Cook (CEO of Apple), makes 2,500x what his average employee makes. What could one person do that even remotely justifies that amount of money compared to the folks actually doing the work? One of the top engineers (not even the average!) who actually designs and makes Apple products has to work months to earn the money Tim Cook makes in an hour.

I really want to know what people think justifies that.
I'm mystified as well. Most of America's CEOs are easily replaceable. I'm willing to bet that for most of them, there are dozens -- maybe even hundreds -- within their organizations that could do their jobs just as well or better.

Elon Musk. Alan Mulally. Bob Lutz. The late Steve Jobs. The list of corporate CEOs in modern times that actually earned their high salaries are few IMO.

Last edited by The Lone Bolt; 03-04-2013 at 07:04 PM..
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Old 03-05-2013, 07:34 AM   #5
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Originally Posted by Fedaykin View Post
In a thread here I once posed the question that video does:

Is the CEO of a company worth 400x the contribution of the average employee? Why or why not?

No one cared to actually answer.

An remember, that's the average CEO, not the worst.

Tim Cook (CEO of Apple), makes 2,500x what his average employee makes. What could one person do that even remotely justifies that amount of money compared to the folks actually doing the work? One of the top engineers (not even the average!) who actually designs and makes Apple products has to work months to earn the money Tim Cook makes in an hour.

I really want to know what people think justifies that.
Apple's a pretty terrible example. I'm pretty sure they'd pay 10000x to have Steve back. And he'd be worth every penny.
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Old 03-04-2013, 08:22 PM   #6
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It is ridiculously unsustainable. We are all like that guy in Florida, safe in our beds, while far below us the limestone flakes away.
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Old 03-05-2013, 08:13 AM   #7
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It is ridiculously unsustainable. We are all like that guy in Florida, safe in our beds, while far below us the limestone flakes away.
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Last edited by Pony Boy; 11-02-2013 at 05:28 PM..
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Old 03-05-2013, 09:02 AM   #8
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I'm assuming you know how to read, Archie. Go to the library and check out some history books. See what happens to societies that allow themselves to drift into this kind of wealth inequality. Right now, the greedy are simply riding along on the inherent optimism and general good nature of the American people. That will change. When? Who knows? And what will be the catalyst? Who knows? Maybe a hot summer? Some kind of natural disaster? The current paradigm is unsustainable and the GOP's continuing "protect the rich at all costs" ideology is heading for a cliff.
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Old 03-05-2013, 09:37 AM   #9
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I'm assuming you know how to read, Archie. Go to the library and check out some history books. See what happens to societies that allow themselves to drift into this kind of wealth inequality.
Maybe you could educate us with some of those historic "Confiscate and Redistribute the Wealth based on populist opinion" success stories.

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The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.
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Old 03-05-2013, 10:24 AM   #10
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Maybe you could educate us with some of those historic "Confiscate and Redistribute the Wealth based on populist opinion" success stories.
You mean re-redistributing. We just want it back to where it was before Reagan redistributed it. Funny how that word somehow has come to mean only one thing and not both.
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Old 03-05-2013, 06:40 AM   #11
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many, if not most CEOs are just figureheads, wannabe rock stars anyway. there are NO scientific studies which show the quantitative impact of CEOs, suggesting in reality they just don't matter. Japan gets away with something like a 4/1 salary ratio don't they? The CEO myth is perpetuated by those who financially gain from the myth. Replace Popes, Presidents and Boards of Directors and the larger organizational culture still predominates. That's why M&As are so horrendous.
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Old 03-07-2013, 07:59 AM   #12
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They called TR a socialist. Here's something about the whole mess that I find absurdly funny; Many of the people who have benefited the most from the redistribution of wealth upwards over the last thirty years, in other words, those who have profited the most while the country has gone into debt, now hide a great quantity of that wealth offshore so it can't be taxed. Their argument is that if the government would lower their taxes even more, they would do us all a favor and "repatriate" that wealth. At the same, they have sold the poor tea party serfs on the idea that lower taxes, especially for them, are patriotic.
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Old 03-07-2013, 08:12 AM   #13
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"our wealth"

Heh. There's your problem right there.
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Old 03-07-2013, 08:27 AM   #14
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"our wealth"

Heh. There's your problem right there.
I'd love to stick around and beat you like a drum, once again, but it gets tiresome and I have better things to do.
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Old 03-07-2013, 09:01 AM   #15
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I'd love to stick around and beat you like a drum,
There could be a first time for everything I guess.

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I agree with you that there is a natural aristocracy among men. The grounds of this are virtue and talents... The natural aristocracy I consider as the most precious gift of nature, for the instruction, the trusts, and government of society... Every one, by his property, or by his satisfactory situation, is interested in the support of law and order. And such men may safely and advantageously reserve to themselves a wholesome control over their public affairs, and a degree of freedom, which, in the hands of the canaille [the masses] of the cities of Europe, would be instantly perverted to the demolition and destruction of everything public and private.
-Thomas Jefferson ---As Constitutional as Separation of Church and State---
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Old 03-07-2013, 11:00 AM   #16
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There could be a first time for everything I guess.



-Thomas Jefferson ---As Constitutional as Separation of Church and State---
"Taxation is, in fact, the most difficult function of government and that against which their citizens are most apt to be refractory. The general aim is, therefore, to adopt the mode most consonant with the circumstances and sentiments of the country." --Thomas Jefferson: Introduction to Tracy's "Political Economy," 1816. ME 14:460

Guess where the sentiments of the country lie? That should just about put an end to your dishonest and selective use of Jefferson.
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Old 03-07-2013, 11:20 AM   #17
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There could be a first time for everything I guess.



-Thomas Jefferson ---As Constitutional as Separation of Church and State---
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Old 03-07-2013, 08:25 AM   #18
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Special report: Offshore finance
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Old 03-07-2013, 01:32 PM   #19
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Beavis is having a hard week on the boards. Will his Orange Mane stock rebound like the stock market in the future? We will have to wait and see.
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Old 03-07-2013, 01:40 PM   #20
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Beavis is having a hard week on the boards. Will his Orange Mane stock rebound like the stock market in the future? We will have to wait and see.
Oh he'll be back. It's cyclical. Besides, I trust the economic policies of that goll durn soshulist in the White House.
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Old 03-07-2013, 01:56 PM   #21
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Beavis is having a hard week on the boards. Will his Orange Mane stock rebound like the stock market in the future? We will have to wait and see.
Well we can't all be 100% dead wrong and then still highfive it like North is South.
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Old 03-07-2013, 01:58 PM   #22
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Beavis is having a hard week on the boards. Will his Orange Mane stock rebound like the stock market in the future? We will have to wait and see.
He has yet to address the OP.
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Old 03-07-2013, 02:05 PM   #23
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He has yet to address the OP.
I think I did. Steve Jobs should've made $350k a year. got it.
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Old 03-07-2013, 03:25 PM   #24
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A good TED talks on inequality.

The effects of wealth inequality don't just hurt the poor, it hurts the rich as well.

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Old 03-07-2013, 04:37 PM   #25
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That TED piece is just mind-boggling. The United States is sitting on a ticking bomb and isn't even discussing it.

"If Americans want to live the American dream, they should move to Denmark."
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