It's not a crossed circuit, it's a blown fuse in the "none of my business" relay.

I don't care how much money other people make, or try to decide if they are "worth it" because I don't understand the ins and outs of every profession under the sun or the demands and responsibilities of the people who work in those professions.

If a man is making money, the person or persons who are paying him think he's worth more than he's being paid. They would rather have his services than the money he asks to be paid to perform them. This is the basis of all voluntary exchange, and the reason why there isn't a single person on the face of the planet who is "overpaid".

If some CEO is making 30mil a year, it's because the board feels that his services are worth MORE than 30mil a year, so it is a profitable exchange for them to secure those services at 30mm/yr.



That's all there is to it.

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87 300SDL

No, that is NOT all there is to it.

Your words look/read like an apologia for American corporate greed, though elegantly stated, as if they flowed straight from the pen of a highly paid writer working for some corporate "Public Relations" Department..

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1991 560 SEC AMG, 199k <---- 300 hp 10:1 ECE euro HV ...

1995 E 420, 170k "The Red Plum" (sold)

2015 BMW 535i xdrive awd Stage 1 DINAN, 6k, <----364 hp

1967 Mercury Cougar, 49k

2013 Jaguar XF, 20k <----340 hp Supercharged, All Wheel Drive (sold)

Costco's CEO

"Jelinek earned $650,000 in 2012, plus a $200,000 bonus and stock options worth about $4 million"

Way more then his employees. My god why??

Also, Ben and Jerrys was circling the drain until Unilever saved their butts.

I think the second choice should read ~ "If the wealthy use their money to help create businesses".

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Grumpy Old Diesel Owners Club group

I no longer question authority, I annoy authority. More effect, less effort....

1967 230-6 auto parts car. rust bucket.
1980 300D now parts car 800k miles
1984 300D 500k miles
1987 250td 160k miles English import
2001 jeep turbo diesel 130k miles
1998 jeep tdi ~ followed me home. Needs a turbo.
1968 Ford F750 truck. 6-354 diesel conversion.
Other toys ~J.D.,Cat & GM ~ mainly earth moving

I'm not making apologies for anyone or anything. I'm not judging the outcome, because I don't care about it. I'm just trying to explain why it happens.

Complaining about "greed" and people being "overpaid" boils down to having a problem with the way other people spend their money.

If the board of some company wants to spend 30mm/yr on an executive, who are you to tell them not to? Who could be in a better position to determine the best way to spend that money than the people it belongs to?

Like most political issues, this winds up being a case of one group of people claiming to know what is best for another group of people, or how that group should employ their resources in order to bring about some desired end.

I don't feel like I know what's best for anyone but myself, and I'd certainly never try to tell someone the best way to spend their money.

Perhaps you feel differently though.

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87 300SDL

I'd just like to see the big dollar CEO's pay at the same rate as their secretaries...as a start.

Underpaid worker bees cannot help the economy by consuming if they barely can meet basic expenses.

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[SIGPIC] Diesel loving autocrossing grandpa Architect. 08 Dodge 3/4 ton with Cummins & six speed; I have had about 35 benzes. I have a 39 Studebaker Coupe Express pickup in which I have had installed a 617 turbo and a five speed manual.[SIGPIC]

..I also have a 427 Cobra replica with an aluminum chassis.

layback40,

I agree. The way it is worded does sound like a continuation of the welfare that the envious would deign to direct money away from the wealthy, in the form of giving businesses away.


I took this POLL from yahoo finance page, word for word to compare results here. The skew on yahoo.finance website/page would be that the ppl taking the poll there, would in all likelyhood be cued in to a more financially responsible personal lifestyle. Doubtful the majority are watching the foolishness of reality TV, IMHO.......

-So, it's certainly not a fair or qualified one-for-one relationship to each other in it's results. Just thought we could kick around the notion of what the wealthy should do with their money - with the corresponding results of how each forum member voted, pre-qualifying their mindset and it's resultant discussion that follows here.....

Seriously?!

You're not making ANY sense here.

Where to start.......


Where did you come up with the notion that; "secretaries should be paid the big dollar CEO's pay at the same rate?" That's just foolish nonsense.....

Underpaid worker bees are underpaid because they've agreed to be underpaid, and because they're not worth more money to the employer. If an underpaid worker bee had the brains and desire to better themself, then they would right?

About consuming by underpaid worker bees:
Haven't you learned the lesson on what happens when everyone in America deserves to have a home - even when they have
Why should somebody be expected to consume, when they "barely can meet basic expense?" -Again, another foolish notion....

Very well put!

Skid, he gets that from an intentionally misleading story that the press had gong some time back. The press misled those gullible enough or mathematically challenged enough to believe their shlt.

They said that Warren Buffet was paying 15% tax while his secretary was paying a higher percentage. This is true because the secretary pays on her earned income while Buffet pays capital gains. Of course capital gains tax rate is low to encourage those like Buffet to invest so that worker bees like most of the rest of us can have jobs?

The lefties are the ones who are either gullible enough to believe what the corrupt press tells them or they are unable to understand the math or both.

Well, Larry, if one doesn't have a job, it would necessarily follow that person pays NO Federal income tax. Add teetering on personal bankrupcty, and that might affect one's power to make anything resembling a reasoned statement.

There's a great number of ppl commanding sizeable amounts of personal net worth with the savvy of Warren Buffett, and like Mr. Buffett, have also paid a 15% Federal income tax rate for years. Some of them have been wise enough to work extremely hard amassing their net worth. These ppl used their ability and desire not to be lazy 'n broke, but instead to become wealthy in America.

Warren Buffett employs tens of thousands of ppl in America, AND around the world. It's hard to argue with that kind of success. I doubt many of them are on USDA Food Stamps. -That is where some of the unproductive AND lazy seem to go-off on the wealthy in America.

With all the opportunity all around them in America, I have to wonder why several of them spend all their time fixated on OPM (Other People's Money).

I do see that scenario as quite similar to buying a rusted out "123" that has not run in four years for $500.00 and parting it out. If left as is will not appreciate in value, but if you take and sell a few mechanical, interior, or drive line parts and then send it off to the crusher there is some progress, and profit made. Sure there is someone with a lot of time and ambition that could restore it but the chances of that are few and far between. Compare that to someone selling off some companies assets and closing the business, other than the human factor, why put off what is inevitable.

My mistake. The I thought the word Prolific (I used the wrong word here) also meant something that was common; meaning a lot of. Instead when I checked it meant productive.

I was aiming for this definition of Prolific: abundant or abounding: present in large numbers, or containing large numbers of quantities of something, especially animal life
a period prolific of creative achievement
But, that is kind of a poor fit.


What I was trying to say is that the CEO getting a large chunk of Money is a typical because it is believed that CEO brings in/increases the Profits. Meaning that is the more Typical Business Model.

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84 300D, 82 Volvo 244Gl Diesel

How about everyone does their part - the rich included. That is, they pay an equitable share in taxes and pay their employees an equitable wage. Furthermore, they stop using their wealth to buy our politicians so they can create new laws that only benefit them.

The charity cases give back through programs that make them work for the people, unless they're disabled and/or old. People shouldn't be sitting around living off the system and making babies.

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"Time's never wasted when you're wasted all the time"

Jim,

Rather than simply criticize, are you not able to mount a point-by-point cogent debate with the man's (Legacy's) opinion that you clearly disagree with?