fatbrit

A small group of people keep the money well within the circle.

Whilst I can understand your general principles, I think they break down when we pay one person in a company 10,000 times more than another. Really, nobody is worth that much. Not you, not me, not the CEO of a health care company. It's obscene.

garfro

of course its obscene.....thats why Americans dont like to take CEO positions in Europe, because they cant extort those salaries as i believe there is a formula on earnings between regualar employees and upper management

Giantaxe

Indeed. The compensation committee at US companies is often populated by people selected by the CEO. And shareholders have no binding say in compensation. Additionally, lobbying $$$s often help ensure that the CEO's company benefits from a legislation-friendly environment. It's not that I disagree with Ian's general hypothesism it's just that the we simply don't have a level playing field for compensation in the US.

There's definitely a moral aspect to this, as well as a societal one. Do we really want a society where an increasing share of wealth is owned by a decreasing percentage of the population?

Budawang

Spot on. It makes me laugh when some twit says CEO X is paid $30,000,000 per year and the guy flipping hamburgers is paid $7 an hour because that's what they're both worth and it's simply market forces at work. You'd really have to be a bit of a moron to think that. The CEO is paid 2,000 times more than his employee because he's very good at using the power invested in his position to feather his own nest. That's one reason why all developed countries have varying degrees of income redistribution through a progressive tax system and social security.

It seems to me that there are more flat-earthers who deny the above in America than most other places.

scrubbedexpat091

I will say one thing, in the US atleast there is the food stamp program, along with other services to feed people who can't afford food.

Due to a prolonged illness that had me hospitalized for 6 weeks and thus no income, and still no income as I am unable to work, I am on social assistance, I receive 375 for rent, and I 235/month in assistance that has to cover all other expenses including food.

There is no food stamp program. I can use the food bank once per month, and if I can make the 1 hour period at noon free soup at the Salvation Army 6 days a week.

I am in Canada and poverty is alive and well and the social safety net isn't very good.

At least the US has somewhat better safety net for the poorest and assistance programs for food.

Giantaxe

Healthcare? In the US only four states give Medicaid to adults without children.

Good point about food stamps. That is one thing that is keeping a friend afloat right now, although I don't know what's going to happen once her house is foreclosed on.

Marocco

Wouldn't that be something for the shareholders to decide?

ian-mstm

Well... thanks for tarring the entire state, however unwarranted that might be. It's a shame you can't see beyond your own prejudice and bigotry of the south! It's a typical reaction that was most pronounced during the War of Northern Aggression.

But, that said, while my wife and I might live in Kentucky, neither of us work in Kentucky.

Ian

Marocco

I remember being surprised by many homeless I saw in Toronto less than two years ago. Most of them seemed to congregate near shopping malls, and appeared to be able bodied and of working age.

fatbrit

Better suited to the tooth fairy I would think.

Sally Redux

Just heard that the new vice chancellor of Birmingham University is getting a salary and benefits package of 419,000 pounds. Now we see the way the wind is blowing with privatising British universities.

http://onestowatchmedia.com/2011/12/...rises-to-419k/

sid50

Re: The show

I think there was an element of sensationalism and bias in what they showed. Billions are spent on Medicare and Medicaid for the poor so dont see why that health camp was set up.

The health camp was set up mainly for dental. Hey they need one in UK given NHS densitry has gone.

re: guy with the hernia could have gone to a county hospital. hospitals write off billions in unpaid bills. go figure why that occurs.

Marocco

The US?! You must be kidding...

ian-mstm

Respectfully, it really is as simple as that. If the burger guy believes he is worth more than that, he should look elsewhere for work. Perhaps he's happy getting $7 an hour for what he's doing. Perhaps he enjoys a Bohemian lifestyle. Money, by itself (as we all know), doesn't bring satisfaction.


I am, by no means, a moron... but you're free to believe that if it brings you some comfort or feelings of superiority.


And if the guy flipping burgers was able to do the same, I can assure you he would. Never, for a moment, think that the burger guy is any less concerned about his own well being.


Hmm... income distribution via a progressive tax system. Well, I guess that's one way of looking at it. I don't see it as distribution... in the sense that I'm not getting income distributed from anyone other than my employer.

Ian

Sally Redux

Again, you are assuming a level playing field in who is able to enter lucrative organizations and progress within them. Do you really believe there is no nepotism and no prejudice in the world, and everyone is judged entirely on his or her merits?