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Is a Racing Driver Really worth £1,000,000 per week in this Financial Climate of Hardship?

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posted on Feb, 27 2015 @ 02:41 AM
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Sorry to moan but when the tv said Lewis Hamilton - already a tax dodger - is to earn One million per week just for driving around a race track as fast as he can periodically, the money is simply way, way too much for me to stomach.

Why are we paying such huge amounts for such trivial jobs when people who do the everyday heroic work that society as a whole couldn't survive with out earn peanuts?

Surely in this economic age some form of parity should be coming to play here. Being a tax dodger makes it even worse for me as its simply obscene IMHO?




posted on Feb, 27 2015 @ 02:50 AM
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a reply to: Shiloh7
But "we" are not paying him.
Basic capitalist economics- the people who do pay him decide what he is worth, and if they can afford it, they must be making enough money themselves to cover it.



edit on 27-2-2015 by DISRAELI because: (no reason given)



posted on Feb, 27 2015 @ 03:00 AM
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I hate to point out that you are not the one paying it out so that point is not close to being valid. Do I believe he is worth it ? I don't even recognize the name so I doubt it. Someone...those paying him must feel that he is worth it to them in some form of revenue they receive, and most likely that is thru advertising.

I don't believe anyone is worth a million a week but if someone out there wants to pay me a million I will not object to it...it is their money and if they want me to have some then I would take it. The man does risk life and limb to provide entertainment for loads of people and at any turn his life could be ended or he could suffer some rather unpleasant injuries.

It becomes a dangerous and very slippery slope when are to be the arbitrators of who makes what and how much. I understand what you are saying but again they want to pay him so who am I to argue against it. Here in the US we spend billions on elections which in my opinion is extremely wasteful considering who and what we get for it but its not my money and if that's how they wish to spend it then so be it.

If we do decide to regulate salaries, then where does the excess money go ? The corporations would just keep it. Are we also to take it from them ? There is no way to have a balance across the board as there are always haves and have nots. Do we just give it away to everyone ? Who would grow our food ? Who would build all our toys ? If someone was to give me a salary I most likely would not report to work for it if I didn''t have too, so while it sounds nice it just doesn't work.

Whom ever pays him is making more than what they pay him so they should pay him enough to make it worth his time just like most everyone should be making more he most likely should be too.



posted on Feb, 27 2015 @ 03:08 AM
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a reply to: Shiloh7

Those with money are not having any financial hardship,they are living it up and spending like champions,the only hard ship is for people without money...........the ones with money are doing their best to keep their money and not let any plebs get it....this guy makes a motza for his employers so they pay him a motza....

What is really screwed up is that in the old days these guys were the fools,the court jesters ..now they are some of the highest paid people on the planet
edit on 27-2-2015 by hopenotfeariswhatweneed because: (no reason given)



posted on Feb, 27 2015 @ 03:08 AM
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Good on him, he just thankful his dad bought him a go kart when he was young.
But thats nothing...
I watched some UEFA cup match during the week, some English team and some other.
They mentioned that one of the little Spanish/South American whatever players is getting 80 million pounds next season.
80 Million pounds!!! Just for chasing a little soccer ball around, and you cant even catch it with your hands!!!
.
THen there is the American crazy sports pay....then actors, then CEOs etc.
Still, someone's got to do the work around the place.....these characters certainly dont.



posted on Feb, 27 2015 @ 03:22 AM
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originally posted by: DISRAELI
a reply to: Shiloh7
But "we" are not paying him.
Basic capitalist economics- the people who do pay him decide what he is worth, and if they can afford it, they must be making enough money themselves to cover it.




This!

A business doesn't pay someone more than they are making from them. Same with all personalities, they are worth every penny or they were a bad business case.



posted on Feb, 27 2015 @ 03:27 AM
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a reply to: Shiloh7

Formula 1 drivers shouldn't be paid £1 million per week even in good economic times.

Who should be paid more? A surgeon who saves lives, or a Play Boy racing around a track?

I know the answer to that one.



posted on Feb, 27 2015 @ 03:27 AM
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Guys I know I am not paying the guy but I was thinking more on the lines that somehow our values have gone to such a shallow level with our complete consent, that the things that count for society are so undervalued when you look at such a huge weekly salary for driving a racing car. Our celebrity culture that so many buy into worships tax dodgers and I am wondering why? I know its a short career and anyone would swop places to have that. Its more about our reinforcing an elite over the rest of the world without any form of discernment. (sounds frightfully pompous but it just gets my goat)



posted on Feb, 27 2015 @ 04:44 AM
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It is a stupid amount. But if private money is going to it, I have no right to complain. Is it worth it? Probably not. It's similar to Wayne Rooney who gets something like £350,000 per week salary, plus bonuses, appearances and sponsor deals. Again, are we paying him? No, but the only difference is Rooney pay's taxes, which actually bring a LOT of money in.



posted on Feb, 27 2015 @ 05:36 AM
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originally posted by: DISRAELI
a reply to: Shiloh7
But "we" are not paying him.
Basic capitalist economics- the people who do pay him decide what he is worth, and if they can afford it, they must be making enough money themselves to cover it.




We as a collective do pay him since we choose to participate in this capitalistic game, paying for PPV or buying tickets, therefore encouraging someone to pay millions of dollars for them to entertain us and make money out of it.

It's the same trick as in the days of the Colosseum. We pay with where our feet goes.



posted on Feb, 27 2015 @ 05:36 AM
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originally posted by: brace22
It is a stupid amount. But if private money is going to it, I have no right to complain. Is it worth it? Probably not. It's similar to Wayne Rooney who gets something like £350,000 per week salary, plus bonuses, appearances and sponsor deals. Again, are we paying him? No, but the only difference is Rooney pay's taxes, which actually bring a LOT of money in.





Again, are we paying him? No


We are paying him to a fashion. Through over priced admission and season ticket costs. Through the cost of paying to watch, Sky Sports, BT Sport etc. Through the cost of hugely inflated Football Shirt costs.

The punter always coughs up in the end.



posted on Feb, 27 2015 @ 05:37 AM
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a reply to: Shiloh7

We are the ones paying him though.


He does not earn that money cause someone gives him it out the goodness of there heart.
And he is not getting that money off the goverment.


We the people pay for the tickets and watch the raceing on TV that makes millions iof adveritising.


If people stopped buying tickits and watching the raceing on TV then that money would dry up fast!

We facilitate those high wages.

Its why I rarely watch proffesional sport.


As for the tax dodging thats another mater.
If down to me id conficate all UK property and money until he pays his taxes.
edit on 27-2-2015 by crazyewok because: (no reason given)

edit on 27-2-2015 by crazyewok because: (no reason given)



posted on Feb, 27 2015 @ 05:57 AM
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a reply to: alldaylong

Very true!

But in that respect we cannot complain, because we choose to pay for those services. The 2 biggest rip offs in football however are the tickets, and as you said, the shirts.



posted on Feb, 27 2015 @ 06:57 AM
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There are plenty of drivers out there who could probably beat these guys if they had the funds and investing these rich guys had.
It's rare that you get someone like Schumacher or Senna behind the wheel whom actually is a good driver.
F1 has been a poster sport since the 50's, big company's strategically places ads all over the car.
It's not that the driver asked for that money it's that the teams managers and such fought for those ads, those investors to give them the off track advantage, Hamilton is a decent driver and it just makes it that much more appealing to companys to put their brands on the car he is driving.

Should he be earning that much?
Well, he did work hard for it, not just anyone can whip one of those cars around a track, I highly doubt any of us could.
So, if the money is coming then sure why not. He's gonna retire when he's probably mid 30's anyways.



posted on Feb, 27 2015 @ 07:02 AM
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a reply to: Shiloh7

If someone can afford to pay him for that and is willing to do so, then why wouldn't it be worth it? It's not the government's money, therefore it isn't tax money. So why do you care what someone else does with their money (spends it on paying a race car driver)?



posted on Feb, 27 2015 @ 07:27 AM
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I think what's wrong with it is that his wages alone could have a massive impact on poverty. It just doesn't seem right to me that there are people starving to death all over the world, but you have a small minority of people who earn enough money to change the world. Little wonder I'm so cynical.



posted on Feb, 27 2015 @ 08:04 AM
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originally posted by: SensiblyReckless
I think what's wrong with it is that his wages alone could have a massive impact on poverty. It just doesn't seem right to me that there are people starving to death all over the world, but you have a small minority of people who earn enough money to change the world. Little wonder I'm so cynical.


But that is not his fault.

If someone offered you a million a week would you turn that down?

I highly doubt it.


If you watch professional sport or buy the tickets or merchandise it is YOU who are saying that they are worth that amount of money.

Boycott it if you you think they are paid to much. If ticket/merchandise and advertising sales went down so would there wages.

As long as suckers will pay the inflated prices then the high wages will continue.



posted on Feb, 27 2015 @ 08:59 AM
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originally posted by: SensiblyReckless
I think what's wrong with it is that his wages alone could have a massive impact on poverty. It just doesn't seem right to me that there are people starving to death all over the world, but you have a small minority of people who earn enough money to change the world. Little wonder I'm so cynical.


His wages wouldn't exist though if he weren't driving the car and the creating the demand for the advertisers and fans to watch F1 races. This is the flaw in your argument. There isn't a fixed pie of wages and wealthy were if someone is getting rich doing something it is taking away money from someone else. The entire pie grows, not just an individual slice.

Wages are nothing more than where supply and demand curves meet. When there is a scarcity of resources, cost (wages) will increase. This is why certain individuals can command obscene amounts of income because they are of a handful of people who can perform at the level required. In addition, the companies paying these people are making many times more than their salaries so it is worth it. If I am a movie producer and Will Smith charges $20 million to be in a film but I know the film will make $250 million or more, it is worth it to me to pay him given his track record of attracting eyeballs.

Life is not fair. Some people have inherent or honed talents that are worth more than others. We don't and never will live in a Utopia where those who may do more "important" work make as much as those who may goof off for a living. The laws of economics zero to do with emotion.



posted on Feb, 27 2015 @ 09:12 AM
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Lewis is a bargoon.

Schumacher was getting 50% more than that!

I think we're getting superb value.

When the son of a Grenadian bus driver and the only person of colour in Formula 1 can become the best driver in the world it speaks volumes.

Also it just drives the bigots CRAZY!

LOL



posted on Feb, 27 2015 @ 09:28 AM
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a reply to: crazyewok

I do boycott these things.

And no it's not his fault. Capitalism is the cause.

There's enough food, water, money for every single person on the planet, but instead of helping our fellow humans we pay some pretty boy millions to kick a ball or drive a car round a circuit.



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