It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by OnceReturned
3) Do you think that what Bill Gates has done is only woth 40 times more than what the janitor at Microsoft did in the same time period? Sometimes, people produce things which are worth a lot more than what other people produce. Isn't it right to compensate them accordingly? After all, they're the ones who did it, and people willingly paid for it. Who is anyone else to step in and say it was undeserved?
How do you come up with 40 as the number? I ask because arbitrary limits don't work very well economically. If there's no reason to set something at 40, then it probably shouldn't be set at 40. What's not arbitrary is market value. For example, Bill made his money from the value of Microsoft stock. That value is set by a free market. It's worth exactly as much as someone is willing to pay for it, of their own free will. Bill owns the stock, and the market(the people) are willing to pay billions for it. According to the OP, should we tell Bill and the market that his stock can't be worth that much because we say so? Or should we tell Bill that he has to give the janitor a billion, just to make it fair?
Ultimately, I do think that minimum wage in the US is a good thing. However, it is a matter of fact that it is bad for jobs here. We have to balance the benefits and the costs, and if we get carried away on a crusade to pay the lowest earners more money in order to do the exact same job, we're going to find ourselves in trouble.
Originally posted by Flatfish
reply to post by 2manyquestions
As I sit here and contemplate my response to your post, the term "lost cause" keeps coming to mind but I don't believe in lost causes so here I go.
I guess I would like to begin by clarifying a couple of things about the thread. First, no one said anything about changing the system so that everyone would have the same income or converting to communism, only that maybe employee payroll should be correlated with CEO payroll to insure that "everyone" who has contributed to the success of the company, from the chief R&D scientist to the "night janitor" gets to experience some little part of that success.
IMO, I can't think of a better way of instilling team spirit throughout the company's workforce where it is in the best interest of everyone employed to do everything in their power to insure the success of the company.
By the way, what exactly is so wrong with a janitor earning $19.00 per hr.? Are you saying that because this individual is willing to put aside his/her pride and perform a needed service, that at times is somewhat repulsive to say the least, that he/she is undeserving of a living wage? I personally, know several professionals who earn well over $400.00 per hr. and I live here in deep S. Texas, nowhere near the big money markets for the type of professionals I'm talking about.
IMO, many people who work hard to attain a "higher education," do so in order that they can work in a field that they love like teachers, doctors, nurses, etc... If you're a doctor who is only in it for the money, you're not the doctor for me. I would bet that air traffic controllers work just as hard and experience a much higher level of stress than most highly educated professionals ever will yet their pay does not reflect it. Kinda of a hollow argument, isn't it?
Sounds like a lot less than medical school. Regardless, salaries for skilled jobs are still based on demand.
The educational path for air traffic controllers requires a bachelor's degree or related experience, plus an FAA-approved training program, and completion of an 8-hour certification exam. Training for new controllers with only initial controller training, ranges between 2 and 4 years.
Secondly, when it comes to fundamental human rights like respect and dignity, I would argue that "equality" is not such a bad thing. On the other hand, an ego that necessitates the need to look downs one's nose at others in less fortunate situations is not only "bad," it's quite unhealthy.
The only issue that I was attempting to address in the thread was the fact that 30 yrs. ago, the payroll ratio between CEOs and the employees of their companies was around 40 to 1. Today that ratio has grown to over 300 to 1 with no apparent end in sight. I believe that the message to be learned from this could not be clearer, "greed and self interest has taken over corporate America at the expense of the middle class."
When is enough, enough and how do we stop corporate America from walking away with all the bread while leaving everyone else fighting over the crumbs? I think it's a process known as "Trickle Down Economics."
Originally posted by SeekerofTruth101
reply to post by 2manyquestions
Janitor job at $19 an hour while a professional, with experience, school and education is getting, on par or just slightly higher than the janitor?
Why is that so, have you ever thought to ask?
Its because of simple free market laws - supply and demand.
Originally posted by jaynkeel
reply to post by OnceReturned
In example #1 that pretty much sounds like what goes on right now with unions? And that would be why alot of jobs are sent packing overseas, or companies go bankrupt because the people are making more money than they are producing.
Originally posted by Flatfish
reply to post by Alxandro
I think you're trying to compare apples to oranges here.
The GPA of 4.0 was a product of the student's hard work alone and did not require the input of a team of workers to acquire it. When that student starts a business that requires a team of workers to produce a product then the wealth should be shared. If the student doesn't want to share the profits then maybe he/she shouldn't share the workload either. Let that student reap the profits from whatever he/she can produce in solitary and let's see how rich he/she gets.
Originally posted by Flatfish
reply to post by 2manyquestions
First, I didn't mean to offend you by saying, "lost cause" and if I did, I apologize. I was just referring to how vast a span lies between your way of thinking about business success and mine.
I believe that part of the problem I see here, is the fact that some people seem to believe that CEOs are to business, what God is to humanity. I'm not even sure that my church would allow me to anoint them with this level of praise.
No one said that business owners shouldn't be allowed to make a fair profit for their efforts, but they should not be given a license to deprive their workers of a living wage just because they may have a "higher education." Going to school is really not as hard as going to work, I've done both and I know the difference.
You want to know what hard work is? Try loading 500 lb. bales of cotton, by hand, into the hold of a cargo ship for 14 hrs. a day in S. Texas heat where cargo hold temps. exceed 115 degrees in the summer. Or, you might want to try loading 110 lb. bags of wheat, by hand, under the same conditions and more often than not, for the purpose of providing "food aid" to millions of starving people around the world.
On several occasions the "terrible" union I worked for, participated in shipments where we donated all necessary labor for the cargo loading operations as our part in food drives for foreign nations. (would that count as helping to save lives or do I have to actually get my hands bloody?)
That's just what I was doing when I was 17 yrs. old and working to earn money for school. Furthermore, I would not even attempt to compare what I did with the sacrifices of our men and women serving in the armed services today, neither in terms of value or worth. I wonder if our soldiers suffer from stress or if they save lives? I wonder how many of our solders get paid like CEOs?
IMO, having an education should only be rewarded if you use it to help lift others and not to repress them.
I know that a lot of people and many CEOs think that their world, or their company, can't survive without them but I got some news for them, their wrong. One of the first things I learned as a working adult is that no one is indispensable regardless of position, including myself.
Supply & demand mandates that if there is a need, someone will move in to fill the gap. It's the "need" or "demand" that will create and perpetuate "supply" chains, but a chain is just that and it's only as strong as it's weakest link.
Anyway, I noticed that another responder to my thread has really posted an excellent reply to yours and I highly recommend that you give it a read. It's a post by one of my chosen friends, "Sestias" and its directly under your post.