What bothers me is there is no conceivable way these individuals could have performed over a billion dollars worth of labor, ever. I'm not advocating communism or socialism, I'm just pointing out a basic truth. None of these people could have conceivably done more useful work than the entire lifetimes work of thousands of people.
Sure, corporate CEOs and super rich are much more productive than the average person....but their brains still tick at a mere 1000hz. They can still only speak at a slowish 150w
Now hold on a minute here, accusing these people of stealing is taking things a BIT far.
What you're failing to recognize is the difference between net worth and salary. Salary is generally recognized as a compensation for labor.
Gates and Jobs, for example, were founders of their companies. They took risks, they had good ideas, and they had the leadership to drive their companies to financial success (you can argue amonst yourselves about the technical success of their products, but the financial accomplishments of their companies is pretty evident).
Most of their net worth came about through equity that they have as the founders of these companies, NOT through their salaries. Yes, their salaries are high, but not $40 billion high. Most of this net worth was accumulated through the appreciation of their equity.
Then Gates decided to pay dividends on his stock and instantly became a few billion dollars richer.
Now hang on just a minute here. The original poster I was replying to wrote:
In most cases, the money was stolen from the shareholders of the corporation in question, who by rights should have either had the money in dividends or seen the money re-invested in the corporate machine.
So now, if you don't give dividends, you're "stealing from the shareholders," but if you do give dividends, you're just tr
While Microsoft supports your argument (BillG only makes around $500K if I recall correctly) other companies like Boeing (top execs take home millions a year in salary and bonuses - not including stock) prove your point wrong. Microsoft is part of a relatively new breed of corporations that believes more in stock compensation than cash compensation (which makes sense). Many corporations still operate as Boeing does - they allow execs to get grossly overpaid even when their business if flailing financially
While Microsoft supports your argument (BillG only makes around $500K if I recall correctly) other companies like Boeing (top execs take home millions a year in salary and bonuses - not including stock) prove your point wrong. Microsoft is part of a relatively new breed of corporations that believes more in stock compensation than cash compensation (which makes sense). Many corporations still operate as Boeing does - they allow execs to get grossly overpaid even when their business if flailing financiall
It's not about dollar figure, it's about the disparity of income between an owner and his workers. I'm not saying I have all the answers, I just see something that doesn't look right.
It's not about dollar figure, it's about the disparity of income between an owner and his workers. I'm not saying I have all the answers, I just see something that doesn't look right.
What's not right? What is to stop any of those workers from creating and executing on an idea, educating themselves, succeeding?
Look at how much wealth has been created in the last couple of generations in America. There are obviously not impenetrable barriers to entry to the "millionaires club."
So go out and be your own boss.Have good ideas and then make money off them. That's how to make lots of money.
Yes it's risky, yes there's no steady salary, yes you've risked your life savings, yes for every one that makes it big there's a score that crash and burn.
But it is probably the best (maybe the only) way to become rich. Some old proveb about those who risk a lot get a lot.
That being said, I'm very comfortable with my nice steady job. Will I become rich? No, most likely not. Do I care? No, I don't
"Be there. Aloha."
-- Steve McGarret, _Hawaii Five-Oh_
What bothers me (Score:5, Interesting)
Sure, corporate CEOs and super rich are much more productive than the average person....but their brains still tick at a mere 1000hz. They can still only speak at a slowish 150w
Re:What bothers me (Score:5, Insightful)
What you're failing to recognize is the difference between net worth and salary. Salary is generally recognized as a compensation for labor.
Gates and Jobs, for example, were founders of their companies. They took risks, they had good ideas, and they had the leadership to drive their companies to financial success (you can argue amonst yourselves about the technical success of their products, but the financial accomplishments of their companies is pretty evident).
Most of their net worth came about through equity that they have as the founders of these companies, NOT through their salaries. Yes, their salaries are high, but not $40 billion high. Most of this net worth was accumulated through the appreciation of their equity.
Re:What bothers me (Score:2)
Now hang on just a minute here. The original poster I was replying to wrote:
So now, if you don't give dividends, you're "stealing from the shareholders," but if you do give dividends, you're just tr
Re:What bothers me (Score:1, Informative)
Re:What bothers me (Score:2)
Re:What bothers me (Score:2)
Re:What bothers me (Score:2)
Re:What bothers me (Score:2)
What's not right? What is to stop any of those workers from creating and executing on an idea, educating themselves, succeeding?
Look at how much wealth has been created in the last couple of generations in America. There are obviously not impenetrable barriers to entry to the "millionaires club."
I know a lot of people
Re:What bothers me (Score:2)
How's that for stopping 'em?
Re:What bothers me (Score:2)
Yes it's risky, yes there's no steady salary, yes you've risked your life savings, yes for every one that makes it big there's a score that crash and burn.
But it is probably the best (maybe the only) way to become rich. Some old proveb about those who risk a lot get a lot.
That being said, I'm very comfortable with my nice steady job. Will I become rich? No, most likely not. Do I care? No, I don't