Tuesday, March 5, 2013
RT: Video: The Big Picture: Thom Hartmann: "Taking Control of Corporate America": How to Create an Economy That Benefits More Americans
Is it bad for a Chief Executive to make I don't know five hundred times more then their workforce. Not if the Chief Executive is worth that much more then their workforce, meaning they are worth that much more to the company. Might sound harsh but thats just a cold hearted fact about Capitalism and if you don't like Capitalism. Find an economic system that works better and show me a country where that system is working and you are free to send that to me. Now if a Chief Executive is doing a lousy job or a mediocre job or a good job but not to the point where they are worth that. Much more then their workforce, then no that person probably deserves a serious pay cut. And maybe the Chief Executive no matter how much they are worth to the company shouldn't decide how much they. Make just like Congress shouldn't decide how much they make as well. That these decisions should be left to the Board and the committee that oversees compensation and perhaps the stockholders. Should have a say in that as well.
But my real point goes to this notion of income inequality that I believe doesn't exist and I'll explain why. And if you are further left to me, you probably think that sound crazy or I'm some type of sellout to corporate America. Or a corporatist or fill in the labels yourself but I'll explain why I don't believe so called income inequality doesn't exist. For people who are well educated, work hard and are productive in any Capitalist economy, those people are simply. Going to do a lot better then the people who aren't, thats just part of economics 101. If you look at the education levels of the people who are part of the so called 1-10% of the country. And you look at the education levels of the people who aren't doing very well. Whether they live in poverty or are in the lower middle class, perhaps struggling to pay for healthcare. That sorta thing but don't qualify as poor, you are going to find that this population isn't very well educated. Or don't have the skills to do much better then they are currently doing.
Capitalism is based and built around what people bring to the table. Their skills set and how they apply those skills to the job they have and if you look at the very wealthy or just. Wealthy in this country, you are going to see Americans who bring a lot of skills to the table and who apply those skills very well. Thats exactly why we have few Americans doing great, a few other others doing very well, a few others doing well. A lot of other people doing okay and too many people not doing well at all and where survival for them is literally a struggle for. Them everyday so if you want to lower what I call the success gap in America, few people doing great at least compared with a lot of other Americans. Who aren't doing very well at all, the people who aren't doing very well simply need to get better skills in this country and then. Take advantage of those skills they just received.
We don't have income inequality in America except for CEO's who are way overpaid. But there are ways to deal with that without passing huge tax hikes by simply employees, stockholders and. Consumers using the power that they have and passing regulations to empower Boards and stockholders more. But what we really have is a success gap with few people doing very well because they've gotten themselves the skills. And applied those skills very well and then we have a large population of people who aren't doing very well. So to close the success gap, we simply need a better education and job training system in this country.