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| 18. |
Re: Evening Mobilization |
Feb 22, 2012, 09:50 |
Beamer |
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Cutter wrote on Feb 22, 2012, 09:43:
CEO and exec salaries are insanely out of line relative to the work they do. I read a study recently that said the average CEO makes 157 times on average what the average wage earner makes. Even if they did work harder, which they don't, do they really work 157 times harder. Almost anyone can play the role of CEO effectively. It's an entirely overrated position.
"Harder" is a difficult thing to define, but they typically have the entire weight of the company on their shoulders, and are much more responsible for things much harder to control, or even out of their control.
But yeah, the amount of changes we've seen to how our CEOs operate ever since the top tax bracket dropped from >70% to <40% is insane. There are other factors at play, but that's the big one. Cut 10,000 jobs, get a ten million dollar bonus. When giant bonuses weren't possible due to the tax code there was less incentive to do something like that.
Of course, technology has made sending jobs overseas feasible, so that plays part, but the incentive is very much one of bonus. And the short term earnings focus of Wall St. has been another odd factor here. |
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