Originally Posted by blaise
Corporations don't have a duty to employ the American workforce. They have a duty to their shareholders. Guess what? If they cut that CEO's salary down to $5 a year it doesn't mean employees at the bottom are going to get paid more. The employees are paid the market rate. Whining about CEO salaries is just whining.
No corporation is putting the American dream out of my reach.
You're talking about over simplifications and all you're doing is regurgitating a bunch of Occupy buzzwords and phrases.
Saying some CEO is keeping you down just sounds like the excuse making of an underachiever.
People shouldn't defend CEOs. They are squeezing more work out of people for less pay and cutting back on employees, while doing nothing to cut back on their own pay. The fact that CEOs are making more money, while employees are making the same money for significantly more work is a problem. Secondly, it's ridiculous that CEOs are being compensated handsomely for failure. What's the point of a bonus anymore?
Problem #2. CEOs aren't investing back into their companies. This is the biggest problem in America. They could be investing more in R&D or new plants or new ventures, but they can't do that because executives are pocketing a disproportionate amount of wealth. It could be invested into technology to make the business more efficient. In marketing. Etc.... That's bullshit. These are executives. They didn't build their business, they earned the right to own it on behalf of the shareholders.
Problem #3. They get compensated for short-term performance. It doesn't matter if they create jobs 3 years from now. Just what they do today. So many are willing to cheat or create artificial results that damn us 3 years down the road. Here's a great example. To beat sales targets, you can raise commission to your sales team.
I work for a corporation. I love it and defend the private sector. But it is mind numbing that people on the right would defend executive compensation. It's getting out of control. They shouldn't be making more money while the economy tanks, nor should they have the power to squeeze a ton of work out of existing employees, nor should we applaud them for lining their pockets with more money as they cut jobs in an economy that really could use executives' support to get the overall economy going again. They are part of the problem, not the solution.