DrVenture420
97654
2580
51
May 15, 2021 2:31 PM
DrVenture420
97654
2580
51
Iliekbirbs
Yet people will still defend the rich and why a burger flipper can't make 15.00 an hour. :/
swinglinered
@OP: Source?
RVME
Not at CBS. He lost his golden parachute package of $125 million for sexual harassment. 2018 Hah Hah!
VaultGirl69
We could fix this, but these lies about how it will hurt the economy and partisan tribalism keep ppl voting against their own interests.
liam1201jb5772
There are salary caps in sports. Seems elsewhere could do wonders as well. Ethically, I don't see more than 10x being okay for the very top
TodayIsSlapANaziDay
Yeah, „earn“. As if they‘d actually do any valuable work. It‘s more like stealing
pdxenburg
I guess you can start a company then... Show them how it's done
TheDogEnd
#EatTheRich
Forgotmyoldaccountbutohwell
Fucking parasites.
pdxenburg
80% of that is from stock going up - not from money they take from profits that could go towards employees
godwithashotgun
battousai124
than the AVERAGE worker, which means they make much more than the lowest paid worker, just fucking strangle them already....
writeymcwriterson
They don’t care because the lower tiers are replaceable
thokling
Start your own business. Pay your workers fairly. Start a grassroots trend.
thedissident
I always believed there should be a cap on executive pay.
Hotato
Problem is they start getting "gifts" instead like shares and houses
CunningLingu1st
"Earn"
swifter66
“Now.”
JohnnyDS60
Oh yes, I just need to become a CEO
DelCorazon
And where do expect them to get the $ for their yachts and shit...? We commoners just can’t relate to their struggles.../s
MartinStevel
Im angry
peoplecalltheromanstheygothehouse
I'm a CEO and I earn EXACTLY the same as everyone in my company.
pdxenburg
So.... It's just you?
BitchButcher
I don't remember where I got that number, but I always thought the highest wage should max. be 20 times the lowest wage.
szepasszony
It is mentioned in the utopian socialist writings of the 1800s. Morris Hillquit mentions it in the History of the Socialist Party of America
DidItForScience
Value of the US dollar since 1978. https://www.in2013dollars.com/us/inflation/1978?amount=1
tzahtman
That's gonna raise the price of Big Macs
ensensu
Since the Big Macs are going to be 'unaffordable' can there be more Little Macs?
poochyena
Now compare their pay to how many employees they have. It'll look much less significant. $11m split among 210k workers isn't much money.
Greenwaxy
But they make terrible decisions because they know they’ll personally be rich no matter what.
poochyena
What do you mean? Terrible CEOs get fired, and there are plenty of incredible CEOs that ABSOLUTELY deserve their pay like Lisa Su
Greenwaxy
Fired. But still multimillionaires who will never go hungry.
poochyena
everyone gets paid for the job they do, even if its a bad job. Can't really stop companies from making bad choices with the CEO pick.
poochyena
and its not like they are picking random people off the streets, its usually people already high up in management.
blisfulloblivion
And lots of terrible ones who ruin companies and leave with their golden parachutes like carol bartz, Hank mckinnel, Adam Neumann and more
poochyena
right
Xero999
US minimum wage in 1978 was $11.32 compared to now which is 7.25. I'm not sure how you get a positive percentage? It should be -36.95%
Xero999
The median wage in 1978 was $33.03 while today it is $19.33 or -41.48%.
pdxenburg
No, it wasn't, unless you're adjusting for inflation
Xero999
Which is what I did as that is the equivalent and buying a power
thesameasyours
Coulda had 320 employees
sprfrkdvd
Or 315 from the CEO's pay, over 200 from the CFO's, and so on and so on.
SneezeFarts
Well CEOs clearly work 320 times as hard and 320 times as many hours so its super justified. /S
TheFeralDog
Nah the ceo should be making more than their avg employees but not more than 10x which is pushing it. 320 is just greedy
Allusernamesaretakensoichoosethis
It's perverted.
DrVenture420
My man!
thesameasyours
GravyEducation
I have no business posting this gif but I've already walked out of my house drunk today so
v
thesameasyours
GravyEducation
See you on the other side
v
Exoticz
CEO wages don't always justify their output of value, but 320 extra employees might not benefit the company as much as one person with
Exoticz
the right experience and ideas. Just saying.
qyrriqat
Do you really think they're arguing to just go out and hire 320 randos?
pdxenburg
I mean, that's what they said
caerulakid
I think if your company can afford to pay someone 320x their average worker, they’ve already figured out business well enough they don’t...
caerulakid
Need a “Ringer” that badly.
Cyynic
Or 160 more employees at double the wages... Or 80 more employees at quadruple the wages...
VitaminBeaPositive
Your math skills are breathtaking.
Cyynic
Thanks, I've had a few years of practice.
thesameasyours
Or 1 more employee at 320x the wages.....wait.
jadack
Or 200 more workers with vacation a proper pay increase and sick leave
minervabro
Or half the employee at 640x the w- okay this is getting silly now.
beziot
I want a leg of this employee ! How much does it cost ?
thesameasyours
An arm
FuzzyX
Set the law that CEOs cannot earn more than 10 times their lowest paid worker then see those lowest wages shoot up.
ignimbrite
No, wages will stay the same and bonuses will quintuple. Gotta patch every loophole.
CrimeBrulee
That's why you make the income tax for upper brackets high. The government doesnt really get the money, it just disincentivizes excessive $$
CrimeBrulee
And so the exec compensation money gets plowed into the company instead (and ergo wages, as long as we reregulate stock bullshit).
AsheLake
If it weren't for loopholes, sure.
Dionysus187
Even with loop holes this would still close the gap quite a bit. Only backing perfect solutions with zero flaws is just analysis paralysis
Daarst
The salary would just be set at the 10x the lowest page, then they'd get millions in 'bonuses'
FuzzyX
All forms of payment including bonuses, gifts, shares, delayed funds, are included in that 10x.
Lbdubs
Politicians should only be paid the median wage for their state too. I wonder if the minimum wage would rise?
BrokeMyFunnyBone
Nah, cause they know they'd still make more selling their vote.
pdxenburg
They are including value of these company owned by the CEO - not compensation from profits. Bezos, for example, only earns $1.8m
Greenwaxy
Is that ALL?!? ONLY a lifetime supply of cash money in a single year?
pdxenburg
That's only 60x the starting salary of Amazon employees. If you want to be shocked over that, have at it
Greenwaxy
I think 8 to 15x starting salary including stock options and bonuses is sufficient.
pdxenburg
You're entitled to your opinion, but he also runs one of the biggest and complex companies in the world. 8 delivery boys couldn't take over
Greenwaxy
Then raise the wages of the lowest paid employees if he deserves more.
Bridgiebird
I keep seeing Amazon commercial propaganda on youtube. Workers saying their pay is awesome and their jobs are awesome, no peeing in bottles
pdxenburg
Peeing in bottles has more to do with public restrooms being closed than company not letting them stop.
Bridgiebird
Are you sure because I've read otherwise. They can't take their half hour breaks because they will become behind in deliveries.
pdxenburg
Probably a combination. Closed bathrooms means it takes more time than they have to find something open
CareIDoNot
I think you guys are confusing regular small business franchises with mega conglomerates. Mom and pop shops don't have margins to support
evilcarp
But, Their employees just like the ones for corporations, have families to support.
pdxenburg
The point it's they aren't making 300 times those family earnings
evilcarp
Are they pretending to a be a real business? Maybe that don't actually have a viable business model and cant afford employees?
xyrax
Why do you assume we are confusing this when the article specifies CEOS? This would scale regardless of size of business.
pdxenburg
They only looked at S&P 500 companies, so you are confusing the two groups though
CareIDoNot
It doesn't scale, small businesses can't just take a pay cut somewhere to pay employees more
GerardEngelage
So that is a thousand times minimum wage?
talynen
I'm unsure if you're misinterpreting the post or implying that many workers are being paid less than the minimum wage.
SomeDetroitGuy
Implying that they are being paid ABOVE minimum wage, about 3 times on average.
aintnothinbutahounddog28
Yeah but I'm betting that $46,800 is the average income when your management and CEOs are included. Non management workers?? Definitely less
NotWelcomehere
Average is different than minimum by quite a bit.
Gaelwyn
Average wages are about 3x minimum wage. So yes, CEOs are making about 1000x minimum wage.
poderous
Ok, now I understand whatcha mean ?
poderous
Ummm, no, it’s ~10x
SomeDetroitGuy
If they are making 10 times minimum wage but 300 times average wage, that would mean the average worker makes 1/30th of minimum wage.
pdxenburg
They don't make 300x average wage
BigDaddysMeatWagon
You can't deduce that at all. It gives no numbers regarding what workers or the CEOs actually make, just the ratio between them.
Gaelwyn
That’s true based on this post, but the data is available online. US jobs reports including salary data are released to the public.
Gaelwyn
https://www.bls.gov/news.release/pdf/empsit.pdf
Gaelwyn
So CEO pay is about 1000x minimum wage, since it is 320x average and average is about 3x minimum.
poderous
Umm I just meant 1000% is 10x...
SteelyDad
Right, 1000% is the CEO increase since 1978, 320 to 1 is the ratio of current CEO pay to current average worker pay.
SomeDetroitGuy
It is but it is irrelevant. The average CEO is making 1,000 times the wage of a gull time minimum wage worker
Troillort
Average it's not the minimum. According to what I could find the USA is $46,800/yr so 320 x that is 14.97 million US$
SomeDetroitGuy
Which is just about 1,000 times US minimum wage
aintnothinbutahounddog28
Where do you get that $46,800 though?? The overall average will include CEOs and whatnot. The average salary for non management is WAY less
Troillort
US Bureau of Labor Statistics, average salary in America for standard full-time employee was approximated at $46,800
aintnothinbutahounddog28
And when I read the 'average worker' in the original I feel like it means regular level employees, not the average of all incomes
jlill09
Minimum wage is 15,000 a year.
pdxenburg
That's definitely not the average CEO salary unless they include wealth from stocks and just ignore that's not company compensation
Troillort
US Bureau of Labor Statistics, average salary in America for standard full-time employee was approximated at $46,800
pdxenburg
Most of the CEO "earnings" they are using is from increase in stock value owned outside of company compensation. It's not company profits
pdxenburg
Bezos made more last year than Amazon because of the stock market. Not because he was taking from profits that should have gone to workers
pdxenburg
I think it's an important distinction