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Wealth Redistribution or Wealth Return?

If you work from your home on your own time without any need for support services and you add $5 in value to Item X, I might be able to pay you $3 per ItemX.
But remember - I had to buy Item X in its unimproved form, get it to you, get it back from you in its improved form, then market and sell it … so unless that $5 represents a major fraction of the total value of Newly Improved Item X, I probably can’t give you anywhere near 60% of the value you add. If I am paying for rent, lights, heat, sidewalk maintenance, unemployment insurance, liability insurance, payroll costs etc etc etc, you can forget about 60% unless I have a product that is virtually free for me to acquire, needs almost nothing but labor to improve in value by $5, and sells as a commodity (little or no outreach marketing required) in huge quantities - in which case we both make bank. Not a likely scenario.
 

and it is not “luck” that worker wages have not kept up with inflation.
Well, that at least is true. It isn't luck. It isn't anything. Worker wages have kept up with inflation.
LOL - if you look at your link, it is clear that median wages did not keep up with inflation during most of the time period between 1979 and 2021. I count about 10 years where the real wage was at least the minimum wage of 1979. Ten out of 42 is roughly 25% of the time, suggesting that it is luck that in any give year wages do keep up with inflation.

And, of course, that obscures the fact in the view of many people, real wages should rise at least at the rate of productivity increase.
 
As an example of the corporate overpaid CEO, Mary Bara did not invent anything nor did she have any ideas of her own. She certainty did not come up with the automobile. Yet she is CEO of GM mostly because she came up through the ranks and has a vagina.
What the actual fuck? Why did you decide to bring up this? What possible evidence could you have that she ONLY got to where she is because she’s a woman? When women are so incredibly under-represented as CEOs, what POSSIBLE argument could you make that being a women makes becoming a CEO more likely?

This was an asshole - and utterly off-topic - thing to say. Shame on you.
The point wasn't to throw women under bus. Suppose you owned an auto company, would you rather the CEO be Lee Iacocca or Mary Barra? Lee Iacocca obviously knew how to make money running a car company, when he was at Ford he invented the Mustang hugely outselling everyone else then (almost single highhandedly) then moving to and saving Chrysler during the 1970's with his K car platforms and mini-van which also become a mega hit seller. Contrast that kind of CEO performance to Mary Barra who came up as a good engineer paying her dues with a large corporation who was obviously hired to the top CEO for affirmative action only because of her sex due to the government had just bailed GM and had the strings on them.

Look at Iacocca versus Barra as the perfect examples. Iacocca was obviously hugely talented serving as focal point for 2 major (and unreleated) success (in 2 corporations) versus Barra who has been the mediocre manager at best, an affirmative hire on track to lead GM into yet another bankruptcy.

And while we are talking about CEO's Iacocca might have actually been the black swan, the unusual talent worth his huge salary.... Barra is just another woman placed in the top job in order to make undeserved millions doing what everyone else could have done. And Barra represents most of the CEO's of today's corporations, not because she is woman but because she brings no special skills, leadership, and mediocre performance. And because of existing board corporate structures able to scam shareholders out of millions in salary that she obviously does not deserve.
 
. You didn't just materialize as a CEO. You were someone with an idea.
As explained in the OP. There is a big difference between the corporate CEO and the entrepreneur founder who invents an idea that creates wealth. (Musk, Besos, Jobs)

As an example of the corporate overpaid CEO, Mary Bara did not invent anything nor did she have any ideas of her own. She certainty did not come up with the automobile. Yet she is CEO of GM mostly because she came up through the ranks and has a vagina. So there are few CEO's creating the value they are worth. And they have evolved to legally scam the shareholders out of their equity.

In a better world, these mercenary CEO's would not exist but because they do they should be taxed much higher than ordinary labor IMO.
Uh, Musk did not invent an idea that created wealth. He purchased other people's ideas. Jobs is the one who is always mentioned but he would not have gotten far without his cofounder Wozniak. I'm not sure where Bezos would have gotten without his wife but he certainly did build his business on screwing his suppliers. Hard.
But unlike Barra, it is fair to say the Musk has single handedly transformed the auto industry. Were it not for Musk, major players would still be be suppressing EV's with no real innovation in this industry.
 
. You didn't just materialize as a CEO. You were someone with an idea.
As explained in the OP. There is a big difference between the corporate CEO and the entrepreneur founder who invents an idea that creates wealth. (Musk, Besos, Jobs)

As an example of the corporate overpaid CEO, Mary Bara did not invent anything nor did she have any ideas of her own. She certainty did not come up with the automobile.
What evidence do you have that Mary Barra didn't have any ideas of her own? Before she became CEO she was a successful electrical engineer; it's hard to do that if you don't have ideas. And as for entrepreneur founders, David Buick didn't come up with the automobile either. Most sophisticated products are invented by thousands of people, each thinking up a few improvements on what came before. Even Isaac Newton stood on the shoulders of giants.
What kind of successful and innovative GM cars can you think of that she can put her name on? Would you invest your savings with her or with someone like Musk, Gates, or Besos?
 
. You didn't just materialize as a CEO. You were someone with an idea.
As explained in the OP. There is a big difference between the corporate CEO and the entrepreneur founder who invents an idea that creates wealth. (Musk, Besos, Jobs)

As an example of the corporate overpaid CEO, Mary Bara did not invent anything nor did she have any ideas of her own. She certainty did not come up with the automobile. Yet she is CEO of GM mostly because she came up through the ranks and has a vagina. So there are few CEO's creating the value they are worth. And they have evolved to legally scam the shareholders out of their equity.

In a better world, these mercenary CEO's would not exist but because they do they should be taxed much higher than ordinary labor IMO.
Uh, Musk did not invent an idea that created wealth. He purchased other people's ideas. Jobs is the one who is always mentioned but he would not have gotten far without his cofounder Wozniak. I'm not sure where Bezos would have gotten without his wife but he certainly did build his business on screwing his suppliers. Hard.
But unlike Barra, it is fair to say the Musk has single handedly transformed the auto industry. Were it not for Musk, major players would still be be suppressing EV's with no real innovation in this industry.
Really? I think you give him far too much credit. Toyota's Prius has been available in the US years before Musk acquired Tesla.
 
. You didn't just materialize as a CEO. You were someone with an idea.
As explained in the OP. There is a big difference between the corporate CEO and the entrepreneur founder who invents an idea that creates wealth. (Musk, Besos, Jobs)

As an example of the corporate overpaid CEO, Mary Bara did not invent anything nor did she have any ideas of her own. She certainty did not come up with the automobile.
What evidence do you have that Mary Barra didn't have any ideas of her own? Before she became CEO she was a successful electrical engineer; it's hard to do that if you don't have ideas. And as for entrepreneur founders, David Buick didn't come up with the automobile either. Most sophisticated products are invented by thousands of people, each thinking up a few improvements on what came before. Even Isaac Newton stood on the shoulders of giants.
What kind of successful and innovative GM cars can you think of that she can put her name on? Would you invest your savings with her or with someone like Musk, Gates, or Besos?
I'd certainly never invest a penny with Musk, Gates or Bezos.
 

Entrepreneurs have proven that they can make things without a CEO
Oh for the love of god! An entrepreneur is a CEO. You think you can prove the function is unnecessary by renaming it?

An entrepreneur is a CEO but a CEO is not necessarily an entrepreneur and that's the big difference. Elon Musk shows us on a daily basis that Rhea is correct and you are wrong because yes he could easily not be a CEO for either Tesla or SpaceX yet those companies would probably not even know the difference. If CEO's were really worth the big massive salary, how does Musk manage to be CEO of 3 or 4 companies at the same time while naming himself chief engineer of SpaceX as well? Either CEO's really don't do as much as advertised or Musk is able to somehow squeeze 50 hours into a 24 hr day managing all those companies.
 
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and it is not “luck” that worker wages have not kept up with inflation.
Well, that at least is true. It isn't luck. It isn't anything. Worker wages have kept up with inflation.
LOL - if you look at your link, it is clear that median wages did not keep up with inflation during most of the time period between 1979 and 2021. I count about 10 years where the real wage was at least the minimum wage of 1979. Ten out of 42 is roughly 25% of the time, suggesting that it is luck that in any give year wages do keep up with inflation.

And, of course, that obscures the fact in the view of many people, real wages should rise at least at the rate of productivity increase.
IMHO it is more a political problem than a problem with capitalism. All that is needed to fix this is to carefully monitor and make sure unions are strong enough to allow productivity to match wage growth. "If capitalism is fair then unionism must be. If men and women have a right to capitalize their ideas and the resources of their country, then that implies the right of men and women to capitalize their labor." Frank Lloyd Wright.

IMHO it is also a political problem referencing the OP is correct about CEO's as well. Change the laws to allow better diluted shareholder control over CEO salaries in the large corporations.

But leave capitalism alone just as it is today because it works. It just needs to be tweeked.
 
And lets us not mention the century long war on labor unions. Still ongoing as far as legal to do that.
Yes, this is part of the “recovery” argument. When Companies felt it was acceptable to rip people off if you could instead of paying them for what they contributed.

And that’s an issue that I know some will argue. “If I *can* rip them off, I *should* rip them off, because failing to rip them off when I could have, is failing to maximize my money, which is - immoral, right?”

The idea that being just and paying people commensurate with whatt they provided to you is a failing, somehow. “I realize you gave me $5 in value, but if I can bully you into letting me pay only $3, I haven’t done anything wrong, yah? I haven’t harmed society and left you needing public care that you would not have needed if I paid you for the value you gave me. I mean a society where I can pressure you into giving me your lunch money is a good society, right?”
Oddly enough, I agree with at least a couple of the points made by just about everyone on this thread...but let me explain why I love the above post made by Rhea. About 10 years ago, when I was still working, one of the aides told me that she was embarrassed to be receiving SNAP. She saw it as welfare and she hated having to depend on the government. She was a hard working, full time employee and a single mom with just one son. I snapped and told her that she should not feel that way because the truth was that her receiving SNAP was welfare for her employer, who by the way, overworked and underpaid her employees. I told the aide, who was one of the few workers who stayed there for years, that if the owner had paid her a decent wage and offered her any decent benefits, she wouldn't need any help from the government, so in her case, SNAP was welfare for the owners. In fact, at least up until recently, most workers who received any government aide received it because their employers were too cheap or greedy to pay them what they deserved.

The owners of this small assistive living facility where I did part time contract work for quite a few years before retiring, lived a rather extravagant life style. Not extravagant like the CEO of a large corporation, but extravagant compared to the residents of a small town where there was a lot of poverty. They traveled, rented new cars every year, always charged to the business etc., while their employees often depended on programs like SNAP or the EIC to survive. So, don't tell me those programs aren't often welfare for business. Imo, greed is a huge part of the problem these days, but we can discuss that later.

Let me add one more thing. Some of you seem to think that CEOs and/or corporations shouldn't have to pay much taxes. Well, who depends on the infrastructure as much as large corporations? Where would Amazon be if not for roads, air travel and the Internet, for an example? Should only the little guy be responsible for paying for those things? I have a friend who barely made 40 K last year, yet she paid over 4 K in taxes. That's more than Trump and many billionaires pay in taxes due to all their special tax breaks. Even if they do pay more, the percentage is often lower than what my friend pays. Many of them have a lot of influence in government. Yes. We have just about become a corpocracy.

Don't get me wrong. I support well regulated capitalism, with progressive taxation and strong enforcement, but we no longer have that these days. Socialism may have worked well when we were hunter gatherers, but things changed drastically after the agricultural revolution, so imo, those days are over, and only an idealist thinks socialism has any chance of working as humans aren't exactly selfless individuals who want to share their wealth. Now, we have mostly crooked corporations, often run by crooks who have a large influence on politicians, who love their power more than anything.
 
. You didn't just materialize as a CEO. You were someone with an idea.
As explained in the OP. There is a big difference between the corporate CEO and the entrepreneur founder who invents an idea that creates wealth. (Musk, Besos, Jobs)

As an example of the corporate overpaid CEO, Mary Bara did not invent anything nor did she have any ideas of her own. She certainty did not come up with the automobile. Yet she is CEO of GM mostly because she came up through the ranks and has a vagina. So there are few CEO's creating the value they are worth. And they have evolved to legally scam the shareholders out of their equity.

In a better world, these mercenary CEO's would not exist but because they do they should be taxed much higher than ordinary labor IMO.
Uh, Musk did not invent an idea that created wealth. He purchased other people's ideas. Jobs is the one who is always mentioned but he would not have gotten far without his cofounder Wozniak. I'm not sure where Bezos would have gotten without his wife but he certainly did build his business on screwing his suppliers. Hard.
But unlike Barra, it is fair to say the Musk has single handedly transformed the auto industry. Were it not for Musk, major players would still be be suppressing EV's with no real innovation in this industry.
Really? I think you give him far too much credit. Toyota's Prius has been available in the US years before Musk acquired Tesla.
Not to mention that Musk came into Tesla after it had already started up and the people running the Tesla corporation credited the GM EV1 as their inspiration.
 

Entrepreneurs have proven that they can make things without a CEO
Oh for the love of god! An entrepreneur is a CEO. You think you can prove the function is unnecessary by renaming it?

An entrepreneur is a CEO but a CEO is not necessarily an entrepreneur and that's the big difference. Elon Musk shows us on a daily basis that Rhea is correct and you are wrong because yes he could easily not be a CEO for either Tesla or SpaceX yet those companies would probably not even know the difference. If CEO's were really worth the big massive salary, how does Musk manage to be CEO of 3 or 4 companies at the same time while naming himself chief engineer of SpaceX as well? Either CEO's really don't do as much as advertised or Musk is able to somehow squeeze 50 hours into a 24 hr day managing all those companies.
The headquarters of those companies are in Hawthorne CA, Austin TX, and San Francisco CA. Something tells me not all of his companies see him regularly.
 

Entrepreneurs have proven that they can make things without a CEO
Oh for the love of god! An entrepreneur is a CEO. You think you can prove the function is unnecessary by renaming it?

An entrepreneur is a CEO but a CEO is not necessarily an entrepreneur and that's the big difference. Elon Musk shows us on a daily basis that Rhea is correct and you are wrong because yes he could easily not be a CEO for either Tesla or SpaceX yet those companies would probably not even know the difference. If CEO's were really worth the big massive salary, how does Musk manage to be CEO of 3 or 4 companies at the same time while naming himself chief engineer of SpaceX as well? Either CEO's really don't do as much as advertised or Musk is able to somehow squeeze 50 hours into a 24 hr day managing all those companies.
The headquarters of those companies are in Hawthorne CA, Austin TX, and San Francisco CA. Something tells me not all of his companies see him regularly.
It's amazing what can get done without the CEO being there.

Where I worked, the bigwigs parking lot was always empty by noon on Friday.
 
And, of course, that obscures the fact in the view of many people, real wages should rise at least at the rate of productivity increase.
Funny thing about that view is that nobody wants wages to decrease when productivity decreases. That’s an aggravating factor in the income disparity between lowest and highest paid members of a Company.
 

Entrepreneurs have proven that they can make things without a CEO
Oh for the love of god! An entrepreneur is a CEO. You think you can prove the function is unnecessary by renaming it?

An entrepreneur is a CEO but a CEO is not necessarily an entrepreneur and that's the big difference. Elon Musk shows us on a daily basis that Rhea is correct and you are wrong because yes he could easily not be a CEO for either Tesla or SpaceX yet those companies would probably not even know the difference. If CEO's were really worth the big massive salary, how does Musk manage to be CEO of 3 or 4 companies at the same time while naming himself chief engineer of SpaceX as well? Either CEO's really don't do as much as advertised or Musk is able to somehow squeeze 50 hours into a 24 hr day managing all those companies.
The headquarters of those companies are in Hawthorne CA, Austin TX, and San Francisco CA. Something tells me not all of his companies see him regularly.
It's amazing what can get done without the CEO being there.

Where I worked, the bigwigs parking lot was always empty by noon on Friday.
That is true. Never met the man myself, but at least judging from the hearsay of everyone I know who has, Mr Musk comes across an absolute nightmare of an admin.
 
Decades ago, a CEO had a salary about X 60 that of an average employee. Now it has crept up to about X 350 that of an average worker. Plus bonuses, big perks, golden parachutes et al. Yes, there has been wealth redistribution. To the robber baron class.

Wealth redistribution is a buzzword the drives MAGATs crazy. Marxism! Socialism Robber baron capitalism is a better framing phrase. Vulture capitalism, income equality.
Actually, the change hasn't been nearly that dramatic. Rather, what we are really seeing is consolidation. The ratio of CEO pay to worker pay is highly related to the number of workers in the company. As you get fewer, bigger companies you would expect the overall ratio to change.
Why? I would absolutely NOT expect that. I’d expect turnover to become a problem that grows with the number of employees, and exposure to damage from it to grow as well, which I would expect to result in increasing lowest level pay to help with retention. I see no reason that ANYONE should be salaried at hundreds or thousands of times the rate paid to entry level, yet competition for what is apparently a vanishingly small number of people qualified to run large corporations, has run their pay up to that point.
:shrug:
I see nothing that addresses my point. It's not a US-only pattern at all.
 
Who prospers and who winds up poor always comes down to luck, one way or another.
It is not “luck” that corporations have supported and even proposed laws that take away workers’ ability to level the field. It is not “luck” that the health care system in the USA ties your health to corporations, and it is not “luck” that worker wages have not kept up with inflation. It is deliberate, and should not be allowed, let alone supported by laws.
Healthcare got tied to employment because of WWII wage controls. It was a way for employers to make working for them more enticing.

As for keeping up with inflation--they carefully choose jobs that have fallen behind as "evidence" of this--neglecting all the new high-wage jobs that have come along. If they have to cherry-pick to get the result the result is almost certainly false.
 
And, of course, that obscures the fact in the view of many people, real wages should rise at least at the rate of productivity increase.
Many people have ideas that are utterly incompatible with reality. This is one of them--productivity increase is mostly due to better tools. It should be obvious that at least some of that productivity increase has to go into buying said tools. In practice it usually is the majority (as the decision whether to invest in said tools comes down to whether they will produce more than they cost. The breakeven point is where 100% of the productivity gain goes to tools.)
 
And, of course, that obscures the fact in the view of many people, real wages should rise at least at the rate of productivity increase.
Many people have ideas that are utterly incompatible with reality. This is one of them--productivity increase is mostly due to better tools. It should be obvious that at least some of that productivity increase has to go into buying said tools. In practice it usually is the majority (as the decision whether to invest in said tools comes down to whether they will produce more than they cost. The breakeven point is where 100% of the productivity gain goes to tools.)
And where do those tools come from?
 
And, of course, that obscures the fact in the view of many people, real wages should rise at least at the rate of productivity increase.
Many people have ideas that are utterly incompatible with reality. This is one of them--productivity increase is mostly due to better tools. It should be obvious that at least some of that productivity increase has to go into buying said tools. In practice it usually is the majority (as the decision whether to invest in said tools comes down to whether they will produce more than they cost. The breakeven point is where 100% of the productivity gain goes to tools.)
Your fairy tale has nothing to with the actual relationship between productivity and real wages.
 
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