Ultra-Rich: Divest Heavily or Get Eaten

[Loren Pechtel]

The basic problem here is you are defining "fair" as "what you think they should get, whether they are worth that or not".

Businesses do pay similar wages because they are all responding to the same economic pressures. If you're actually being underpaid, move. If you just want more, up your value.

There is no way for labor to up it's value anymore because the Republicans have taken away their unions.

Unions do not up one's value. I'm talking about acquiring skills that employers want.

 

[RVonse]

The basic problem here is you are defining "fair" as "what you think they should get, whether they are worth that or not".

Businesses do pay similar wages because they are all responding to the same economic pressures. If you're actually being underpaid, move. If you just want more, up your value.

There is no way for labor to up it's value anymore because the Republicans have taken away their unions.

Unions do not up one's value. I'm talking about acquiring skills that employers want.

But in a free market economy, ones value is only determined by supply versus demand. While acquiring marketable skills is generally a good idea, skills themselves have nothing to do with the price point of value determined where supply and demand meet.

So yes, unions do up the workers value in our free market capitalistic system. They create scarcity and value for the worker the same way that the CEO maintains his obscene and ludicrous salary. The same way that the holder of a patent or trademark maintains its value...

Its called free market capitalism.

 

[DBT]

Did you read my whole post? You don't comment on Rachel Maddow's greed.

There was no need to comment, I include anyone in the super wealthy bracket, movie stars, sports stars, bankers, developers, etc. The issue is wealth accumulation at the top.

You honestly equate a banker with a movie star or sports star? The average banker in the US makes less than $70k a year. Banking isn't a very good industry anymore.

That's not necessarily true, but scratch the banker example if you like, it makes no difference to the issue I was referring to.

https://www.mergersandinquisitions.com/investment-banker-salary/
Base Salary – Your most reliable income stream. You earn this regardless of whether you’re a superstar or a complete failure – at least until you get fired. Base salaries are $85K, $90K, and $95K USD for 1st, 2nd, and 3rd Year Analysts at mid-sized and large banks. Some elite boutique banks may pay slightly more, while regional boutiques may pay slightly less. Base salaries for Associates go from ~$140K to ~$180K as they move up.

End-of-Year Bonus – This is a percentage of your base salary, and it’s based on your ranking “bucket,” overall deal flow, and how much other banks are planning to pay. Some banks pay this bonus to Analysts at the calendar-year end and offer a “stub bonus” after the first 5-6 months, while others pay this bonus in the summer after an entire year of work has ended. Full-year bonuses for Analysts tend to be between 70% and 100% of base salaries, with numbers at or above 100% for the top performers. Expect higher numbers at elite boutiques and lower numbers at regional boutiques. Top Associate bonuses are 100%+ of base salaries.

 

[DBT]

The basic problem here is you are defining "fair" as "what you think they should get, whether they are worth that or not".

Businesses do pay similar wages because they are all responding to the same economic pressures. If you're actually being underpaid, move. If you just want more, up your value.

The wealth being generated through production and providing services determines fair distribution of income. As it stands, workers are not getting their market share. I have already provided pages and pages of information and stats. Why do you ignore it?

You have produced pages and pages of elephant-ignoring.

I think that may be you. Perhaps you are getting a bit confused.

 

[ZiprHead]

You honestly equate a banker with a movie star or sports star? The average banker in the US makes less than $70k a year. Banking isn't a very good industry anymore.

That's not necessarily true, but scratch the banker example if you like, it makes no difference to the issue I was referring to.

https://www.mergersandinquisitions.com/investment-banker-salary/
Base Salary – Your most reliable income stream. You earn this regardless of whether you’re a superstar or a complete failure – at least until you get fired. Base salaries are $85K, $90K, and $95K USD for 1st, 2nd, and 3rd Year Analysts at mid-sized and large banks. Some elite boutique banks may pay slightly more, while regional boutiques may pay slightly less. Base salaries for Associates go from ~$140K to ~$180K as they move up.

End-of-Year Bonus – This is a percentage of your base salary, and it’s based on your ranking “bucket,” overall deal flow, and how much other banks are planning to pay. Some banks pay this bonus to Analysts at the calendar-year end and offer a “stub bonus” after the first 5-6 months, while others pay this bonus in the summer after an entire year of work has ended. Full-year bonuses for Analysts tend to be between 70% and 100% of base salaries, with numbers at or above 100% for the top performers. Expect higher numbers at elite boutiques and lower numbers at regional boutiques. Top Associate bonuses are 100%+ of base salaries.

How about bank owners?

 

[Jarhyn]

The basic problem here is you are defining "fair" as "what you think they should get, whether they are worth that or not".

Businesses do pay similar wages because they are all responding to the same economic pressures. If you're actually being underpaid, move. If you just want more, up your value.

There is no way for labor to up it's value anymore because the Republicans have taken away their unions.

Unions do not up one's value. I'm talking about acquiring skills that employers want.

Like the skill to say "if you want a job done that requires a human being, one way or another, it's going to cost you the full minimum upkeep on a human being"

 

[DBT]

You honestly equate a banker with a movie star or sports star? The average banker in the US makes less than $70k a year. Banking isn't a very good industry anymore.

That's not necessarily true, but scratch the banker example if you like, it makes no difference to the issue I was referring to.

https://www.mergersandinquisitions.com/investment-banker-salary/
Base Salary – Your most reliable income stream. You earn this regardless of whether you’re a superstar or a complete failure – at least until you get fired. Base salaries are $85K, $90K, and $95K USD for 1st, 2nd, and 3rd Year Analysts at mid-sized and large banks. Some elite boutique banks may pay slightly more, while regional boutiques may pay slightly less. Base salaries for Associates go from ~$140K to ~$180K as they move up.

End-of-Year Bonus – This is a percentage of your base salary, and it’s based on your ranking “bucket,” overall deal flow, and how much other banks are planning to pay. Some banks pay this bonus to Analysts at the calendar-year end and offer a “stub bonus” after the first 5-6 months, while others pay this bonus in the summer after an entire year of work has ended. Full-year bonuses for Analysts tend to be between 70% and 100% of base salaries, with numbers at or above 100% for the top performers. Expect higher numbers at elite boutiques and lower numbers at regional boutiques. Top Associate bonuses are 100%+ of base salaries.

How about bank owners?

Of course. Which is the point: the accumulation of wealth and power in the hands of a small percentage of the population.

 

[Axulus]

If I have a piece of paper and someone offers me $100 billion for it, and I decide to keep it, am I hoarding? Did I take away something from someone else? What if I hired someone to create the piece of paper and purchased it from them for $1 many years ago and, over time, it become massively valuable for some reason. Should I be required to divest it?

 

[Jarhyn]

If I have a piece of paper and someone offers me $100 billion for it, and I decide to keep it, am I hoarding? Did I take away something from someone else? What if I hired someone to create the piece of paper and purchased it from them for $1 many years ago and, over time, it become massively valuable for some reason. Should I be required to divest it?

You may have an obligation to document and share what is on it for the edification of society; beyond that, it is a piece of paper, likely a piece of art, whose value is in posterity rather than in function.

Of you decide to keep the information of the thing (irrespective of what you do with the thing itself) all to yourself? Damn right you are fucking hoarding.