Busting the “Paid What You’re Worth” Myth

[Frederick Foresight]

Again, you are focused on the one guy at the top and not on the guys at the bottom or the middle. The core argument isn't about improving the bottom 50,000 people, it's about lowering the 1 guy at top while acknowledging that money will just trickle out to other people at the top.

Again, it highlights the increasing disparity. If the upper echelon was also struggling or doing less well than it had done before, then it would be more understandable: everyone's in the same boat. But that is nowhere near the case. What plausible explanation is there that those in the seat of power are making more money than they ever made before while the rest are doing decidedly far less well in relative terms?

Look, if you think all is well, then more power to you, so to speak. But you understand my point. You're just nitpicking now.

Why aren't you railing against Tom Brady who made hundreds of millions while the waterboy on his teams only made 10k (if he was paid at all)?

I don't follow sports.

 

[engineering]

There's a difference between a founder and a CEO, who is a paid employee who is supposed to meet targets.

Correction: There MAY a difference between the founder and CEO. For smaller business it is often the same. For small companies that realize the American dream and make it big, that can also be the case. I don't think some random guy in the shipping department has a right to have his pay locked to that of Steve Jobs or Sam Walton or Musk or Zuckerberg, just because he got hired 5 minutes ago and successfully breathes air.

 

[Frederick Foresight]

Okay, actually haven't watched yet.

 

[SunTrader]

OP is right to focus on the extreme level of CEO compensation nowadays.

And not pay attention to the - look squirrel distraction of worker pay.

Value of any kind (stock price, worker salary, home prices etc) fluctuates between under and over valued.

One doesn't have to be a Ivy-Schooled Economist to understand who has been over-valued and under-valued starting right about the time unions went into decline.

Note: I've never been in a union and personally never strived to be in one, but understand the benefit they are to many.

 

[SunTrader]

I said ... yet.

 

[engineering]

Power wins.

Workers can get some power by uniting.

Its amazing how so many with so little, relatively speaking, are against workers simply uniting.

Typical of life in America 2023, where many don't even talk to or know who their next door neighbor is.

That's because the workers "uniting" often means paying union dues to crooked scumbags who will sell them out anyways.

https://www.abc10.com/article/news/...rges/103-cac538fd-aebe-4db1-841e-8fc5b241cc63

"During fiscal years 2000–2019, OLMS investigations led to over $156.3 million dollars of restitution in over 2,100 criminal cases"
https://www.unionfacts.com/article/crime-and-corruption/

Replacing a boss at a single company who you can at least leave and go somewhere else, with a union boss who oversees your entire field of employment is not necessarily a good thing. Maybe you wanted to be promoted based on you competency rather than your seniority and political allegiance to the union.

 

[VicBee]

Correction: There MAY a difference between the founder and CEO. For smaller business it is often the same. For small companies that realize the American dream and make it big, that can also be the case. I don't think some random guy in the shipping department has a right to have his pay locked to that of Steve Jobs or Sam Walton or Musk or Zuckerberg, just because he got hired 5 minutes ago and successfully breathes air.

You're hooked on the 5 minutes. Employees work as many if not more years in a company than the CEO who often is a hired employee with no specific attachment to the company's roots. Burgers yesterday, automobiles today.

Musk doesn't get a salary, he is entirely compensated on performance. I have more respect for his achievements than Barra or Farley but, again, he doesn't have to work with unions. If it's isn't clear, I've clearly stated in past posts that I'm anti union.

I'm pro government and my biggest gripe with the US government is that it's weak, at the mercy of anyone giving it the finger. It's given birth to the Kens and Karens who pollute the internet with their entitled tantrums, and fringe groups who think it's ok to storm the Capitol at the request of a wannabe dictator, or men who like to dress as women and demand to be treated like ladies.

 

[Frederick Foresight]

Maybe you wanted to be promoted based on you competency

This thread isn't necessarily about promotion but a living wage for honest work that's relatively fair in terms of effort and/or expertise expended compared to others. That's the ideal. How to get there? Well, that's above my paygrade. Yes, unions are far from perfect, but consider what they achieved: stopping child labor, gaining health care benefits and aid for injured workers, some political power/status to offset the imbalance, and so on. Hell, the weekend!

And as promotions go, I can tell you that, even in a non-union environment, they don't always or necessarily go to the most competent. So please don't try to black&white it.

 

[newwurldmn]

Again, the focus is on the top.

If the ceo was paid 1mm and shareholders got all his comp in the form of a dividend, would you be happier? What if all those shareholders are hedge funders like Ken griffin?

you aren’t aware that professional sports atheletes make millions while the backoffice
In those teams make very little?

Again, it highlights the increasing disparity. If the upper echelon was also struggling or doing less well than it had done before, then it would be more understandable: everyone's in the same boat. But that is nowhere near the case. What plausible explanation is there that those in the seat of power are making more money than they ever made before while the rest are doing decidedly far less well in relative terms?

Look, if you think all is well, then more power to you, so to speak. But you understand my point. You're just nitpicking now.


I don't follow sports.

 

[SunTrader]

That's because the workers "uniting" often means paying union dues to crooked scumbags who will sell them out anyways.

https://www.abc10.com/article/news/...rges/103-cac538fd-aebe-4db1-841e-8fc5b241cc63

"During fiscal years 2000–2019, OLMS investigations led to over $156.3 million dollars of restitution in over 2,100 criminal cases"
https://www.unionfacts.com/article/crime-and-corruption/

Replacing a boss at a single company who you can at least leave and go somewhere else, with a union boss who oversees your entire field of employment is not necessarily a good thing. Maybe you wanted to be promoted based on you competency rather than your seniority and political allegiance to the union.

Paint with a broad brush much. Of course there have been some crooks running some unions.

And some CEO's of some companies too. Do we cheer the collapse of all companies?