Busting the “Paid What You’re Worth” Myth

Frederick Foresight · Jun 28, 2023

newwurldmn said:
If the ceo was paid 1mm and shareholders got all his comp in the form of a dividend, would you be happier?

Going for the checkmate, I see.

I said I don't have a solution; I just see a problem. Do you see a problem, or are all systems just groovy and peachy keen as far as the eye can see?

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

Is it necessary to get industry-specific? I don't think so.

newwurldmn · Jun 28, 2023

Frederick Foresight said:
Going for the checkmate, I see.

I said I don't have a solution; I just see a problem. Do you see a problem, or are all systems just groovy and peachy keen as far as the eye can see?

Is it necessary to get industry-specific? I don't think so.

I don't see a problem in the wealth disparity in America. Today there is a massive shortage of skilled labor. Yet people don't want to train up. Almost anyone can be making 70,000/year with 24 months. It takes going into a trades or going into a skilled profession and learning said skill. People aren't becoming CDL drivers, plumbers, welders, machinists, etc. All these pay north of 75,000. It's not the CEO of McDonald's fault that his workers are not choosing this path. Further in America, everyone has the opportunity to make it big. Some people have it easier than others, but that's a separate issue.

Given that you are so concerned about CEO pay, it's probably worth noting whose "excessive" pay you aren't concerned with to understand if your real issue is
1. Lower waged workers
2. Highly paid people in general, including those who aren't the CEO of a company
3. CEO's specifically

It seems like your problem is #2 and you aren't willing to admit it.

Frederick Foresight · Jun 28, 2023

newwurldmn said:
It seems like your problem is #2 and you aren't willing to admit it.

Looks like you got me pegged. Thank goodness I'm one-dimensional.

piezoe · Jun 28, 2023

newwurldmn said:
he’s editorializing a lot.

you are paid for the impact you provide. A McDonald’s worker is paid what he is because he (as an individual) has little impact on the value creation at McDonald’s. The CEO has huge impact as his decision and leadership affects the hundred thousand workers at the stores.

Unions aren’t popular because workers don’t want to pay the dues for them. In the recent 10 years or so, workers have had the upper hand in wage negotiations but compensation is capped at the impact provided by the person.

I think a closer look would show this "paid according to impact" not to be true, but only seeming to be true if one doesn't look to closely. Reich's thesis makes somewhat more sense to me.

newwurldmn · Jun 28, 2023

piezoe said:
I think a closer look would show this "paid according to impact" not to be true, but only seeming to be true if one doesn't look to closely. Reich's thesis makes somewhat more sense to me.

please elaborate.

newwurldmn · Jun 28, 2023

Frederick Foresight said:
Looks like you got me pegged. Thank goodness I'm one-dimensional.

I’m good that way.

engineering · Jun 28, 2023

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

By "some" you actually mean thousands of instances:
"OLMS investigations also led to 2,297 indictments and 2166 convictions"

Unlike a bad CEO at a single company, a union will take over an entire field.

Frederick Foresight said:
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.

No it's more about envy. I have yet to see a detailed analysis explaining why Joe new guy in the shipping department should have his wages linked to the CEO of a multi-billion dollar organization.
Skilled labor is in very high demand right now. Companies are willing to pay to train. If you're still working for minimum wage in spite of that, the problem is not unfair CEO pay.

Frederick Foresight said:
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!.

Unions didn't do that, the labor movement did. You'll note that these things exist for people regardless of union membership. The union people are the ones engaging in harassment, intimidation, trespassing, etc. If you want to see their true colors, try crossing a picket line.

SunTrader · Jun 29, 2023

engineering said:
By "some" you actually mean thousands of instances:
"OLMS investigations also led to 2,297 indictments and 2166 convictions"

Let's see a link - which provides who (not an unnamed faceless group) that is actually saying this. As well as their data source.

Frederick Foresight · Jun 29, 2023

engineering said:
No it's more about envy.

engineering said:
You'll note that these things exist for people regardless of union membership.

Are you sure you understood the points you responded to?

murray t turtle · Jun 29, 2023

2rosy said:
surprised he didn't end with: Workers of the world unite, you have nothing to lose but your chains

%%
LOL, exactly+ no wonder he looks so sad :caution:

Dave Ramsey helps much more than him.
Some workers do some side business, or better...........................................