Look. I'm not an activist. I don't "do" causes very often. I'm too cynical to be around the true believers out there and when I DO find debate I'm interested in I tend to play the part of the contrarian more often than not.
I do this for a very specific reason. I believe in free speech but what I really can't tolerate is people trying to sell me their personal beliefs as something that I should be interested in. I take as an article of faith that its our own responsibility to make our own way and develop ourselves as we personally see fit.
That having been said, what I've read today makes me angry. And not just a passing, "I've noted it and now its over with" anger, but actually angry enough to post on this and share it with anyone who'll read it.
CNN ran an article today (read it here)that has now been followed by a slew of other major media reports on this same topic, so I'm certainly NOT making history here by talking about this - in fact, as I type now, I'm sure that the debate has already begun to rage throughout the so-called "blogosphere" and if I'm just adding additional noise to said debate, so be it. Apparently every so often the Institute for Policy Studies (IPS) posts a report on the situation on wages in the U.S. Now, I'm not naive. The IPS is so left that you can see where they're coming from a mile out, but just because they have an overt political slant doesn't necessarily mean they are wrong.
Findings of the report are as follows:
- CEOs of large U.S. companies last year made as much moeny fromjust one day on the job as average workers made over the entire year. These top executives averaged $10.8 million in total compensation, over 364 times the pay of the average American worker.
- The private equity boom has pushed the pay ceiling for American business leaders considerably further in the economic stratosphere. The top 20 private equity and hedge fund managers pocketed an average of $675 million, or 22,255 time the pay of an average U.S. worker.
- [a proposed tax break cap, if it had been in place] would have generated more than $1.4 billion from fewer than 400 companies. This would have been enough to hire 30,000 elementary school teachers for an entire year.
- information taken from "Executive Excess 2007," IPS 2007
Now, I'm hardly a liberal. I'm centrist at best. But just the same it pisses me off and it should make you mad too.
For those of you interested in reading the entire article, click on the arrow to the right of the file before and you can view it if you have Adobat Reader on your computer.
6 comments:
Its just like we were discussing yesterday...there is no longer a "middle class". The rich bitches want to keep the poor people poor because they have less of a voice. The salary ranges you noted were just, well....disgusting. Its sad that the US is suppost to be THE place a equality and freedom, yet instead of giving it to us, they slowly take it, bit by bit, hoping no one will notice. Are we headed towards Communism? Maybe go back to having a "royal family" like England? For being known as the "most developed" country, we sure have a bunch of greedy dumbasses running it.
I agree Tracy...but boy wouldn't it be nice to not HATE coming into work...so be financially secure, travel when you want, allow your kids to grow up and experience different cultures and things. BUT instead of enjoying life, we will continue to work 1-2 jobs and have daycares raise our kids and never get ahead. At what point are we supposed to get fulfillment out of life??? I am in a rut these days and I can't pull myself out. This is all very depressing, and nothing we do is ever going to change those facts.
I disagree Margo, maybe not completely but certainly to some extent. I think first of all you have to remember that there's only so much money and the people that have more money than you do would rather you not have more because then they would have less. So, the acquisition of a better life is really fighting an up hill battle. I think you have to look at it really economically. I don't have expertise, so my time is worth very little. My avenues for making more money and economic power (whether I use it for acquiring goods or working less) are limited to either a) gaining expertise or b) working more hours to increase the amount I can make. Thus, you either have education or more working as ultimate avenues to economic stability and independence. I'm casting my lot with the education thing because at least there's a hope that I can enter a field that I may enjoy, wherein I can then begin working long hours, and so forth.
I can't believe you disagreed with me and called me out!! lol For me, basically being a single mom, I have no way to go to school. Not just money, but I struggle enough with sitters while I go to work. Plus, I feel like I am already missing out on enough of Maddex with having to work. It's a sad cycle, but I don't see an end to mine. I don't have many avenues to choose from. Unless I want to go from work to school and NEVER see him and pay out the ass for sitters and never get ahead. (I am just venting now) Education would be great, if you could afford both the time and money. Thats another issue with me...the price of education...don't get me started.
Eh, what're you gonna do? I say we burn the mother down and start a new society. A nekkid society.
I'm voting for tossing molatovs through storefronts myself. . . .
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