(04-21-2014 01:36 PM)Fitbud Wrote:  The median pay for the top 100 highest-paid CEOs at America’s publicly traded companies was a handsome $13.9 million in 2013. That’s a 9 percent increase from the previous year, according to a new Equilar pay study for The New York Times.

These types of jumps in executive compensation may have more of an effect on our widening income inequality than previously thought. A new book that’s the talk of academia and the media, Capital in the Twenty-First Century by Thomas Piketty, a 42-year-old who teaches at the Paris School of Economics, shows that two-thirds of America’s increase in income inequality over the past four decades is the result of steep raises given to the country’s highest earners.

http://www.salon.com/2014/04/21/paul_kru...m_partner/

What does this have to do with old money?

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Blame Obama.

An accommodating Fed with trillions of leveraged dollars in circulation with a promise to cover these expenses on the backs of the wealthy, but no concrete plans to do so has cause business to engage in a wide variety of high leverage, short term practices that don't lead to job creation, but DO lead to increased corporate earnings.... and CEOs are rewarded for increasing earnings... and that alone. We're now going into what, year 7 of no plan on how to cover all of these expenses?

You can dismiss my comments as partisan and that would certainly be easy because they lay the blame at the feet of the architect of current policy, but they are hard to dispute in fact. MOST recent Presidents have faced a similar dilemma. Clinton more than either Bush, but not as much as Obama. Clinton had Gingrich to keep him fiscally honest and Sr had 'read my lips'. Jr didn't do it until so late in his Presidency that he didn't have to have a plan. Doesn't make him better... just lucky. Reagan spent a lot, but his policies also created a lot of jobs... somewhat unheard of at the time. Obama should have known better, because I'm far from the smartest guy in the world and I predicted this before he took office.

The problem I have is that some families like the Waltons make bookoo money only to have a lot of it go overseas or sit in their bank accounts. Worse is that their employees are paid so little that they require our tax dollars to make up the difference. It's like a subsidy to the worlds richest retailer and we're paying for it. Either pay more to have American made stuff (and don't pass off the damn costs) so we aren't funding communists or pay your damn employees so our tax dollars don't have to pay for their food stamps and rent. That's why I exercise my right not to shop there..

(04-21-2014 01:36 PM)Fitbud Wrote:  The median pay for the top 100 highest-paid CEOs at America’s publicly traded companies was a handsome $13.9 million in 2013. That’s a 9 percent increase from the previous year, according to a new Equilar pay study for The New York Times.

These types of jumps in executive compensation may have more of an effect on our widening income inequality than previously thought. A new book that’s the talk of academia and the media, Capital in the Twenty-First Century by Thomas Piketty, a 42-year-old who teaches at the Paris School of Economics, shows that two-thirds of America’s increase in income inequality over the past four decades is the result of steep raises given to the country’s highest earners.

http://www.salon.com/2014/04/21/paul_kru...m_partner/

Brittany Spears and Beyoncé make a lot more than $13.9 mil. Some actors get that for one movie. Some athletes get that as a signing bonus and might not even make the team. Tiger Woods is on track to become the first billion dollar athlete. Why are you picking on the people who create jobs and products we actually need instead of Snoop Dogg's and his rap music which makes him worth $135 million?

Oh, and Krugman just got a teaching job for $200,000+ per year and he doesn't have to actually teach anything.