[quote=njtosd][quote=CA renter][quote=SD Realtor]Not just candy. Society owes them health care, education, and a 6 figure job.[/quote]
And capitalists think their employees, customers, etc. owe them a profit…often, a very sizable one that is in no way correlated to the amount of “work” done or the risk taken on the part of the capitalist.[/quote]
CA Renter – I have to disagree. But I have to ask you a question – do you disagree with capitalism as an overall economic structure , or do you just not like parts of it?
In any event, no one holds a gun to anyone’s head and says you must work at this company or you must buy from this vendor (except, now that I think about it, the ACA). If you dont want to be cheated as an employee – start a business that doesn’t extract “sizable” profits (I’m including small businesses here). And in terms of being a gouged customer – there is always the DIY route. People did it for centuries. One could strive to be Amish (without the religion). I’m being a little flip here, but everything in life is a choice. And we should take care of those who are incapable of helping themselves, but not those who are unwilling.[/quote]
This isn’t related rentier capitalism, but to industrial capitalism — which I tend to be more okay with. Still, in a country with a system that enables these types of profits, do you think that these CEOs have absolutely no responsibility toward their workers, customers, etc.? Mind you, I have less of a problem with founding CEO’s making this kind of money…but is it really necessary to have these kinds of income disparities even within the same company?
The legal, social, physical, military, etc. infrastructure provided by our government makes these types of profits possible. Some could argue that they are paying corporate and personal income taxes which pay for all of the costs, but I’m not so sure about that. Would they be able to replicate their success in countries where all of this infrastructure doesn’t exist? I just don’t think so.
And IF they believe that they’ve honestly and ethically “earned” this compensation, why would anybody want to hide this information?
“(Reuters) – U.S. corporations will need to disclose how the paychecks of their chief executive officers compare with those of their workers under a new proposal released on Wednesday by a sharply divided U.S. Securities and Exchange Commission.
With CEOs of many U.S. companies earning hundreds of times more than their workers, unions and labor advocates are championing the SEC’s CEO pay-ratio rule. They say disclosures would help investors identify top-heavy compensation models.
But business groups such as the U.S. Chamber of Commerce and the Center on Executive Compensation oppose the measure, calling the data costly to compile and of little use to investors.
Among U.S. companies with the highest-paid CEOs are Oracle, Walt Disney, Viacom and Starbucks, whose CEOs in 2012 earned between $28 million and $96 million, according to the compensation data provider Equilar.”
