Coming on the heels of the high-profile murder of UnitedHealthcare CEO Brian Thompson, the fact Jacobin Magazine is asking this question is, in and of itself, vile. But the question is also idiotic and terrible.
Pay, in a capitalist society, is based on value. You get paid baed on the value you bring to your company. Which is why a grocery store bagger makes less than the cashier who makes less than the produce manager who makes less than the store manager.
You get where we're going with this.
But the Left? They don't understand basic economic principles. They do understand greed, however.
The ratio of CEO pay to worker pay is almost 300 to 1. Are we really supposed to believe CEOs work 300 times harder or create 300 times more value than us?https://t.co/lAcONoAMLy
— Jacobin (@jacobin) December 20, 2024
This argument has always been a myth, but that has not stopped the average ratio of CEO to worker pay from widening tremendously. In 1965, America’s average CEO to worker pay ratio was 21:1. According to a 2022 analysis conducted by the AFL-CIO, it is now 272:1, with the average wages of CEOs and workers at $16.7 million and $61,900 respectively. It’s already pretty hard to make a moral case for inequality on this scale — but, as it turns out, the efficiency and desert arguments for it don’t hold water either.
A new analysis jointly conducted by the Institute for Policy Studies (IPS) and the Congressional Progressive Caucus Center (CPCC) suggests that colossal increases in CEO pay are unrelated to improved performance and reflect little more than “a rigged system that extracts wealth from ordinary workers and channels profits to the top of the corporate ladder.” This is immediately evident when you look at the methods used to inflate compensation for the highest-paid executives.
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What a bunch of communist claptrap.
CEOs run companies that give all those employees jobs. By the way, if the average wages of workers is $61,900, that comes out to a pay rate of just under $30 an hour. We thought the Left wanted half that as a 'living wage', right?
If someone is willing to pay that, then yes. By definition.
— Charles X Proxy™ (@Charlemagne0814) December 21, 2024
But you people only know central committees and guillotines. Economic concepts are not in your quiver.
Exactly.
Oh, you certainly live up to your name.
— Jay (@OneFineJay) December 21, 2024
They sure do.
Yes, you worthless Communist s**tbags.
— JWF (@JammieWF) December 21, 2024
Yes. The answer to their question is yes.
The CEO is responsible for every employee and the organization as a whole. So yeah, they earn that ratio.
— Jeremy E. Neuman (@JerOHMee) December 21, 2024
They give all those people jobs and keep the company profitable so those people continue to have jobs.
Yes, comrade. pic.twitter.com/qpgmNN0nTm
— SciroccoMark (@MarkCoffin14) December 22, 2024
Maybe that they'll understand.
Pay does not reward how hard you work but rather the value you create
— John Ennis (@john_ennis_btc) December 20, 2024
And, yes, top CEOs definitely create 300 times more value than regular workers, probably much more than that
For example, look at Elon
He value is so great it’s almost immeasurable
They don't understand this, because they've created nothing of value.
Take Jacobin, for example.
You get paid based on the scarcity of your marketable skills.
— Jesse Kelly (@JesseKellyDC) December 21, 2024
How many people can do what you do?
If it’s a lot, you’re not gonna get paid a lot.
The star quarterback makes what he makes because not many people can do what he does. https://t.co/Vq8rj2Bnqu
Trained monkeys could do what Jacobin does, so point taken.
One very-early-on point here is that the data set is trash - the pool used is only the Fortune 500, not "every business." https://t.co/ILJolxvv15
— Wilfred Reilly (@wil_da_beast630) December 22, 2024
Fair point.
A publicly traded CEO creates 300 times
— Connor Keppel (@Con_Keppel) December 22, 2024
More value than an entry level employee.
Easily.
The hard work is the wrong metric. That only works if we’re all paid the same for what we do. I don’t see any mention of pressure or quality of life here, of course 😏 https://t.co/sue4zMJIoZ
Easily.
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