Re: Who's on your ignore list?
posted at 12/22/2011 6:56 PM EST
In Response to Re: Who's on your ignore list?
In Response to Re: Who's on your ignore list? : From your article: The average annual income in China's cities stood at 17,175 yuan (£1,685) last year, more than three times the average income of 5,153 yuan in the countryside, according to the National Bureau of Statistics. And here's a US statistic for you : The United States is highest at 475 to 1. The most recent chart from the Economic Policy Institute shows a ratio of 185 to 1 for 2009. According to the group’s calculations, the peak since the mid 1960s was almost 299 to 1. But it was never as high as high as 475 to 1. Meanwhile, the most recent ratio from the Institute for Policy Studies is also smaller -- for 2010, it was 325 to 1. In previous years the ratio on two occasions has exceeded 475 to 1 -- to be specific, 516 to 1 in 1999 and 525 to 1 in 2000 . http://www.politifact.com/truth-o-meter/statements/2011/oct/10/facebook-posts/viral-facebook-post-ceo-worker-pay-ratio-has-obscu/
First my challenge: If ya don't but "buy" the specific source of these findings, just go ahead and google something like "CEO to worker pay ratio in The United States." I just took the first 1 on the list, so go 'head & offer me the one that best fits your argument, the most conservative one imaginable...happy hunting. By EVERY stat I've ever seen, The ratio of CEO to Worker (meaning: Someone who IS working) pay, was a 35:1 in 1978...and now it's 275:1 by the most extremely (here's your word) "conservative" estimates. Next: I KNOW that we're discussing U.S. CEO to U.S. Worker pay ratio, while you've offered me a China estimate of "Rural Worker" to "City Worker" ratio... But it doesn't change the simple fact here which I argued previously: In China, the wage differences between employed citizens are NO-where, and Not-even-CLOSE to as grossly unbalanced as they are here. Sorry. And simply because now China's "Un-Balance" of city to rural workers is eeking out a miniscule seperation span at a tiny rate compared to their past estimates...?!? This does NOT even remotely compare to the absurdity of the wealth divide currently in 2011 America.
Posted by LazarusintheSanatorium
Laz, I warn you that you are dipping your toe into the LaBrea Tar Pit of threads.
Just the same, I cannot resist.
The reason for the disparity can be traced back to my post on Tuesday about the 1986 tax law change by Reagan to shift executive comp to stock shares.
These guys hire consultants to tell their shareholders that these guys should get cushier stock option packages, and the execs get them. And if the consultants do not advise the shareholders accordingly, they do not get hired to consult. It is rigged.
Before the tax law change, the average CEO worked his way up from the "mailroom" to CEO, and had worked for the company for 50 YEARS!!!!! Today? It is less than four years. They do not care about the long-term health and wealth of the companies.
If they get canned, they collect a fortune and do it all over again at another company. Look what happened to HP. To WorldCom. And so forth.
It is a closed system, based in college fraternity culture (weird, right? NOW I wish I had pledged, LOL), where the players can't lose, no matter how poorly they perform and how ruinous they are to the corporations.
We are witnessing a fleecing of corporate investors and employees on a scale never before seen in world history. Thus, OWS.