500 million in salary while the company goes bankrupt

unity said:

I tell you this, NO ONE deserves to make millions of dollars while there are homeless families living in our street, and there are millions un or under insured!
I don't care how 'good' you are at something, you do not deserve million dollar compensation packages, while your fellow citizens can't even go to the doctor.
WTF is wrong with 'you' people trying to rationalize their excessive pay!
These fuckers need to be taxed at 90% above a million, that will redistribute wealth in a hurry.
And all you righties (the seven on here), don't worry, I have a economic strategy that will work for sure, it is called 'trickle up economics'!
Poor people have to spend their money in order to survive, therefore businesses will be on the receiving end, as long as they sell the shit people need, unlike what they are doing now, pushing paper from one stack to another. What a fucking disgrace!!!

Labor creates wealth! Before labor there is no capital!

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communist statement bro. that is leaning a little far to the left. life isn't fair.

poor people have to spend their money to survive? please, in this state, if you are poor, the state will buy you a fucking car!!!!! poor people get food stamps and live off goverment aide. no sir, it is the middle class who pay for everything. how can someone who is poor pay for everything when poor people do not have any money?


i got to tell you, i have a HUGE heart, but one thing I learned a long time ago is that I need to look out for me. because no one else is going to look out for what's best for me, only me. people have their own personal agenda's and that is fine, but so do I and I will continue to whats best for me and my family.

ViRedd said:

CEOs should be paid whatever the board of directors and the stockholders of the company agree to pay them. However, if a CEO is found to have cooked the books in order to enrich him/her self, then prison is in order.

Salaries shouldn't be limited in any way.

Vi

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I can agree that salaries can't be limited (at least practically, I mean they could be, but it would cause a lot of harm). I do however thing that the average Joe should be able to get a little bigger slice of the pie. the division of wealth in the U.S. is asinine and there is no way that anyone on this planet will tell me that some billionaire earned his money any more than the guy that busts his ass all day long.

Once you think about it we need the working class at least as much as we do the wealthy(actually more imo), and without the working class there would be no wealthy. So I think the working class deserves a little more than they get now, and that will only come from redistributing the wealth a little - the same way the wealthy got wealthy, by taking it from all of us somehow or another.

All the wealthy do is sit around sloshing drinks trying to figure out who they can screw over next to get a little bit more wealthy.

What if my family were Hemp farmers, but the lies told by DuPont and the Hearst newpaper empire put them not only out of business but they lost everything?

I say fuck the rich, not very many of them got that way in an honest manner.

I think Hearst news and DuPont need to be spreading some wealth around, it's hard to tell how many lives have been ruined since they started their marijuana lies.

Da Kine 420 said:

communist statement bro. that is leaning a little far to the left. life isn't fair.

poor people have to spend their money to survive?
please, in this state, if you are poor, the state will buy you a fucking car!!!!! poor people get food stamps and live off goverment aide. no sir, it is the middle class who pay for everything. how can someone who is poor pay for everything when poor people do not have any money?


i got to tell you, i have a HUGE heart, but one thing I learned a long time ago is that I need to look out for me. because no one else is going to look out for what's best for me, only me. people have their own personal agenda's and that is fine, but so do I and I will continue to whats best for me and my family.

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I can respect your position, my experiences have taught me different mate. Clearly you need to do what's best for your family, I'm doing the same. Some here talk as if the 'wealthy' made their money all by themselves! Their wealth was and is largely accumulated by the exploitation of the poor and aspiring middle class. So I ask you, when is enough enough? How much money does a ceo deserve when you consider that that money comes from a finite pool of money and there are people dying left and right from preventable causes.
What about the needs of 'the commons' that largely provide the 'atmosphere', the infrastructure, climate for those 'self made' fuckers to get wealthier then some country's.
No mate, you are not going to change my mind on this!!! I give a little, tax them at 90% above 3 million.

cleatis said:

I can agree that salaries can't be limited (at least practically, I mean they could be, but it would cause a lot of harm). I do however thing that the average Joe should be able to get a little bigger slice of the pie. the division of wealth in the U.S. is asinine and there is no way that anyone on this planet will tell me that some billionaire earned his money any more than the guy that busts his ass all day long.

Once you think about it we need the working class at least as much as we do the wealthy(actually more imo), and without the working class there would be no wealthy. So I think the working class deserves a little more than they get now, and that will only come from redistributing the wealth a little - the same way the wealthy got wealthy, by taking it from all of us somehow or another.

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That's why I say tax them at 90% above 3 million! That's what Eisenhower, etc. did when the country needed it.
We made them stinking wealthy, now let them help the country!

That's why I like that idea to peg CEO compensation to some specified multiple of the average wage of a worker in that company. That way the CEOs can't suck all the life out of the company for their own benefit, then declare bankruptcy, leaving the workers with a dried up husk of a company that's worth nothing. That doesn't really limit the CEO salary either -- they just have to make the company do very well, pulling the *entire* company's salaries upwards, including their own. Isn't that what the workers should expect their CEOs to do? It seems a little ridiculous for a CEO to make 100 x S (where S is average worker salary) when times are good, and then when times are bad the number jumps to 500 x S...and then they declare bankruptcy and walk away, leaving the rest of the people unemployed.

It was reported on the news today that AIG cancelled their upcoming "retreat". Yeah they fucking better have, god damn crooks.

medicineman said:

Fuck the wealthy! Thar's exactly how they feel about us. Even if they were born into it and never lifted a finger to get those piles of cash, they see us as inferior skulking rats, trying in every way to get some of their wealth. The next time a wealthy guy comes up to me and says "hey Bud, how are you doing", I may change my opinion, but meantime Fuck the wealthy. If all the wealthy would relinquish 50% of their wealth to even the playing field, they would have plenty left and everybody could get a hand up. 95% of people don't want a hand out, but a hand up could certainly help. Without Job creation, this country is fucked. We need to bring back our manufacturing base, how do we do that you ask? Well we stop importing foriegn made goods. I'm pretty sure some wealthy dudes would see a nich that needed filling. Open factories long closed and bring wealth back to the streets. All those Brother-in -law shipping magnents may lose their asses but oh well, the American worker has been losing his ass for quite a while. Untill the people get back control of the government, the rich assholes will continue to hold court in America.

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Hey med, what do you consider wealthy?

I consider wealthy to be $200,000 or more in gross income each year, complete ownership of at least one house and one car (no liens), and the ability to come up with one million dollars or more in cash within a week without selling the house(s) or car(s). In other words, if you can expect to be able to get a million dollar ransom quickly if you kidnap their child, they're probably rich.

tipsgnob said:

I think your wealthy when you can live off your investments and not work at all....

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Personally, I think any one that chooses not to work at all is a damn fool, but that's just me, and I know I'd go insane if I didn't have some side hobby that involved doing something challenging that resembles work.

Other than that, I have to agree, though considering the following

Dividends range from 1 - 30% (not that I'd recommend investing in anything with a Div Yield above 15% averaged out over 5 years or so)

So, arguably, if you consider $60K as a good base income to live off of. It takes anywhere from $200K in investments to $6 Million in investments to actually generate $60K in income per annum.

So, there is a lot of leeway in what you consider "wealthy"

Though I do agree with that definition. Not having to work for any one else and being able to live a comfortable middle class lifestyle while doing so.

tipsgnob said:

what??.......................

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I agree with your definition, but (or maybe because) it means that some one with as little as $200K invested could be considered wealthy, but at the same time, some one that has $3M in investments in a very low returning stock (or one of the Financials) would end up working.

I also said that I don't think I'd ever be willing not to have some kind of hobby that could be called "work", because I just can't stand not to be doing something.

tipsgnob said:

after I retired I became a farmer...

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I'd want to work with robotics, which I guess means I'm still yet to grow up, because I have strong desire to play with what can be called toys.

Wait a minute! The FED just pumped over a trillion dollars of new money into the system. Today a million in the bank is OK, but tomorrow it will buy you a latte at Starbucks.

Hey Med ... how do you like your "little bit of socialism injected into capitalism" now, big guy?

Vi

ViRedd said:

Wait a minute! The FED just pumped over a trillion dollars of new money into the system. Today a million in the bank is OK, but tomorrow it will buy you a latte at Starbucks.

Hey Med ... how do you like your "little bit of socialism injected into capitalism" now, big guy?

Vi

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Hey, Vi.

And, yeah, this corporatist socialism sucks.

The poor get poorer
The rich get richer
and the middle class gets shafted.

Hey guys, we don't have to be stingy with the bottom end, couldn't it be done through taxing capital gaines above a certain amount at a very high rate?!

For those of you who have not seen the 'L Curve' Check out the link, but be forewarned you will be pissed afterward But you will certainly now who I am talking about when I say 'these fuckers'!

The L-Curve: A Graph of the US Income Distribution