DISQUS

Dudical · 1 year ago

The question is, is he going to do something in terms of legislation to stop this kind of behavior, or at least reduce it as much as he can?

Older_Wiser · 1 year ago

What about cutting bonuses for those making over $100K? Instead, too many companies are cutting bonuses across the board. The $30K worker probably needs her bonus the most, but the boss could probably forego his bonus on his $250K+ salary.

Like I said in another thread, the $30K worker and the $100K worker are not going to compete for the same house, after all, either, if the $30K worker can compete at all.

And I don't believe you can legislate the immorality of greed, either.

Dudical · 1 year ago

Older_Wiser. Sure you can legislate against "the immorality of greed." All you have to do is make laws against it :)
Seriously, it's a load of right-wing propaganda you seem to have fallen for, with all due respect, if you believe this can't be legislated against. Sure, it has to be done the right way, it can't be completely excessive. But good grief, there's no reason whatsoever that, for instance, we can't make it against the law to give top level management of a company going bankrupt millions in "golden parachutes" while they fire workers and rescind their retirement plans. And in general, a reasonable formula for top executive pay caps can be created, there's absolutely no reason to think not, so that workers don't get so much of the fruits of their labor siphoned off to give those who already have millions tens and hundreds of millions more.

Bostonian_Queer_in_Dallas · 1 year ago

There is a very simple way to even it out. It's called raising their taxes...the rich.

Dudical · 1 year ago

That's better than nothing, but it's post hoc. Best is to have an economic system that gives fair compensation for work in the first place, in such a way that "correction" from the tax code would not even be needed. There is no doubt that, for instance, a formula can be worked out which would give a reasonable percentage of revenue that a company must distribute to the low-level workers (minimum amount) and to the executives (maximum amount), which will minimize parasitic behavior from the top.

Older_Wiser · 1 year ago

Pay for executives is generally rubber-stamped by the Board of Directors of companies. If the govt legislates this, Rethugs will cry "foul" and try to block any legislation to regulate these salaries. Of course, they also don't mind the trillions being put out by taxpayers to salvage these POS companies, either.

And no, I don't buy "rightwing" arguments--I would like to see no executive make more than what the president of the US makes--he or she has far more responsibilities than these lazy, greedy executives who are only in it because of greed and don't deserve a dime more.

Older_Wiser · 1 year ago

If what I just heard was true, that the GDP for the US this year was $14 trillion, and the additional govt debt this year is going to be $7 trillion--well, folks, we are in deeper shit than we realize.

green_libertarian · 1 year ago

The petro industry and all that relies on it, (transportation, pharmaceuticals, auto, factory farming, plastics) is one third of the economy, at least. As Aramco goes, so does the nation.

red_dwarf · 1 year ago

Quit asking questions and get back to work. There is not time for this nonsense.

tbhull · 1 year ago

I would go further. I would say any bank or other company taking any, I mean any portion of the bailout, shall have their top 5 officer making no more than $400,000 per year (including salary and any bonuses), the same salary the President receives.

Also below these top 5 no employee (sales folks included) for these same entitiies can make beyond GS-15 pay (salary ad bonues again), the highest civilian salary, which, depending upon their locale and tenure with the company, currently is at a maximum of $136,000 or so.

Soaplady57 · 1 year ago

A bonus should be for a "job well done." None of these guys did the job well!! Why give them or allow them any bonuses? They should not get anything and if they don't like it - QUIT!!

katiec · 1 year ago

The government needs to come down on the financial institutions hard. They are taking our taxpayer money and thumbing their noses at us, and, getting away with it.There should be a cut in wages, especially for the CEO's, perks
taken away, real sacrifices made, starting at the top.
The fact that Citigroup is paying 400 million for their name to be on a stadium is ridiculous, along with all their other outrageous actions.
It appears Paulson/Bush are going to let them do whatever.They look after their own.

Molly Weasley · 1 year ago

Amen to that. While I thankful that my husband and I both still have our jobs, neither of us is getting a bonus -- or a raise. Many I know are in the same boat, unless they've lost their jobs altogether. You'd think high-powered execs wouldn't be as tone deaf as they are.

talk_to_the_hand · 1 year ago

Suggestion for New Yorkers: make posters of these execs getting fat bonuses with pics of their faces & how much $$$ they're getting and paste them all over Manhattan.

Reasons To Be Cheerful, Part 3 · 1 year ago

How do i feel about the bankers? Outraged, disgusted, screaming that Washington should pull the strings they've acquired through the bailouts and the like. But... I don't think anything will be done after all, not here in the US of A. In Europe? Maybe. Call me cynical, I guess.