This comparison to executive compensation is just wrong on so many levels. The company can only afford to pay it’s employees what it earns (unless it’s unfairly bailed out by the government). Sure, they can sell bonds, but the market weighs that risk (sometimes poorly) with the assumption that the loaned money will be paid back as the company earns. If not, they declare bankruptcy, in which case bond holders are paid back before any executive compensation. A CEO’s job is to cut salaries and lay off employees at times. That is what they are compensated for.
What we are peeved about is that this isn’t happening in the public sector. They are paying it’s employees more than they can afford. This is coming out of our taxes and we have no recourse.
What the company pays its employees is not coming out of my paycheck. Just as you have a right to be upset at an individual company for their compensation practices, we have a right to be angry at a particular municipality.
