re: #94 EPR-radar

We’re starting to see $500 million payouts to some CEOs and hedge fund types.

Assuming that this is for 1 years work, that works out to $250,000 >per hour (assuming 8 hour days and 250 working days per year).

So the more common $50 million executive payouts come to $25,000 per hour.

This is totally obscene.

The thing is, a lot of wingers will tell you that how much one of those guys makes has no effect on how much YOU make. I disagree, for the following reason -

First, hedge fund managers are at best commensal, and more likely parasitic on the economy at large, since what they do doesn’t actually create anything of value to the economy at large, and is really just gambling. Yet, they pay a much lower tax rate because of how unearned income is taxed.

Second, CEOs are evaluated on the profitability and stock price of their companies, so naturally anything they can do to increase profit is in their interest. Increasing automation, offshoring, outsourcing are all ways to cut the cost of what is for most companies their biggest expense. Their compensation literally depends on reducing their employees compensation.