Feb 05 2009
Why CEOs are anti-Middle Class Americans
Though I have gone on and on about this subject before, and to much the chagrin of my conservative colleagues, I felt like a Liberal hysteric for all the seriousness I have been treated with when asserting that CEOs are literally “thieves and robbers” and much less “barons” that they suppose themselves to be. The level of chicanery and thievery was hinted at in recent months and many people are angry about CEO bonuses. In fact, I applaud President Obama’s imposition on the earnings of CEOs who receive “extraordinary assistance” (I had, briefly, hoped that “extraordinary assistance” was the friendly shove onto the C-130 cargo plane bound for Azerbaijan and a nice round of waterboarding). As it turns out, I was not only right, but my conservative colleagues who scream of “Socialism” and “undermining the American middle class” should really consult Jim Jubak. I had seen him occasionally giving advice that was generally sound about investing and Capitalism, so there’s no need ot fear he’s some hippy Liberal out to make everyone eat tofu and wear Birkenstocks. Here is what he has to say about CEO bonuses.
In Japan, CEOs are paid about 10 times what the average worker is
In Germany, CEOs are paid about 11 times what the average worker is
In the United Kingdom, CEOs are paid about 25 times what the average worker is
In the United States, CEOs are paid between 170 to 340 times what the average worker is
Here’s a link to what he has to say:
AS I was saying, while conservatives bitch and moan about the so-called “power” of the Unions - whose job it is to stand up for Middle and Working Class Americans - and defend the idea of “trickle down economics” and that tax breaks for the wealthy would create jobs, think on this: The IRS released a statement in 2008 that the average American made $38,000 a year which means the lowest paid CEO makes 6.46 Million dollars and the most well-paid CEO makes 12.92 million a year. How CEOs can sleep at night while cutting the jobs of average Americans who struggle to make ends meet as it is anyway while receiving exorbitant sums such as this is beyond my comprehension.
To my dear conservative friends; wake up, you have been duped and are being used by the wealthy who would sell your children into slavery if it meant another million dollar bonus.
Stumble It!