Monday, April 14, 2014

MINIMUM vs MAXIMUM WAGE

Top 10 Highest-Paid CEOs

Who in their right mind would say (and believe) that human beings are so different that one; a fast food worker, is worth an average of $8.94 an hour while another worker; a CEO, is worth $10,538.46 an hour? What could be that much different between the two to warrant this kind of extreme disparity?

Even the average American; as preoccupied as they are with Duck Dynasty and Honey Boo Boo must at least wonder how anyone human being could be worth paying $10,538.46 an hour to.

Both come in and leave the world pretty much the same way. Both squat to take a dump, so they say.

The $10,538.46 and hour CEO is not exceptional. Mr. Simon is the son of the late Melvin Simon, chairman emeritus of Simon Property Group. He holds a B.S. degree from Indiana University and an MBA from Columbia University’s Graduate School of Business. 

He didn't work for the position he has. It was handed down to him from his father who, if I wanted to dig further, would probably discover that dad also had most of it handed to him. Still, somehow, a small group of people have been able to come up with this formula and amazingly, have rationalized that it is a fair and equitable way to distribute our "collective" wealth.

Note: The Ayn Randi's go crazy when that word comes up; like garlic to a vampire.

How talented can one individual be? How exceptional can they convince others they are? How do they see themselves compared to the rest of humanity?

The President of the United States which is said to be the most powerful man in the world only makes $91.58 an hour, based on a 12hr - 7 day a week schedule using the pay calculator.

One very talented and powerful CEO (his hourly pay by the way is "zero.") of a large international organization The 3 Tier Hierarchy Of The Roman Catholic Church: made the following observation in addressing this "crazy making" view of entitlement and wealth;

“Some people continue to defend trickle-down theories which assume that economic growth, encouraged by a free market, will inevitably succeed in bringing about greater justice and inclusiveness in the world,” 

“This opinion, which has never been confirmed by the facts, expresses a crude and naive trust in the goodness of those wielding economic power and in the sacra­lized workings of the prevailing economic system.” 

The message is clear; "wake up folks."

Although Francis has previously raised concerns about the growing gap between the wealthy and the poor, the direct reference to “trickle-down” economics in the English translation of his statement is striking. The phrase has often been used derisively to describe a popular version of conservative economic philosophy that argues that;

allowing the wealthy to run their businesses unencumbered by regulation or taxation bears economic benefits that lead to more jobs and income for the rest of society. 

The question to ask is; How's that working out for you?

Where do you fit on the salary scale?  Are you closer to $8.94 an hour or $ 10,538.46 an hour?

Maybe it's time to talk about; not only a minimum wage, but also a maximum wage. One that makes sense when compared to the amount many people claim is adequate.

The cry from Republicans is that raising the minimum wage will hurt businesses, cut jobs, and a litany of other absurd  and lame excuses to oppose it. Yet, not a word is said about cutting wages at the top where it obvious much more damage is being caused to business growth and job creation. Imagine how many people you could hire at; let's say, $100 an hour by reducing one persons salary from $10,538.46 an hour to let's say $1,000 an hour.

There's lot's of fat at the top. So let the cutting begin.