A disturbing factoid

[skip coyne]

just got my homeowners insurance renewall today

150% increase over last year .

wonder how the CEO salary is doing

[Curt Fuller]

The other night I was watching a PBS program that had Bill Gates and Warren Buffet answering questions from a large group of college students. Remember these two guys are the two most wealthy people in the world. When asked what they felt was one of the most serious problems facing our country both said it was the growing division of wealth and class. Warren Buffet said that if he wanted he could manipulate his wealth so that he would pay absolutely no income taxes while the average middle class wage earner is forced to pay the standard tax rates. He felt that anyone should be free to earn whatever they can as long as it's legal. But he said it was immoral for our government to not tax the wealthy accordingly. And he blamed that for part of the division being created between the wealthy and middle class.

The opportunity to better yourself to the point that you're so stinking rich is just part of the American way. But to then use your wealth and influence in a way that turns your back on and ignores the system that allowed you to become rich just doesn't seem right to me. I applaud people like Bill Gates and Warren Buffet that are funnelling some of their wealth back for the benefit of the rest of the people.

As for CEO salaries, they're determined by stockholders and the board of directors of their respective companies. If you don't like what the CEO is being paid, don't purchase their product or services. But if you don't like the way the burden of taxes is distributed, well then you have a chance to express your opinion on November 7. There are either a lot of folks that like the way things are going or else there are too many that aren't concerned enough to make a change.

[Paul Prescott]

My 2 cents, as an M.D. for 30+ years:

Wall Street owns health care and this country. Corporations do whatever is necessary to raise their bottom line to inflate stock prices, including outright fraud (Enron, Global Crossing, and too many more), while the CEOs etc get far more than they deserve. Yeah they "manage" the company (see above) but the workers (pensions dying, health care insurance premiums up every year, home prices out of reach, etc etc etc) struggles to survive. How many of you older members grew up in a home with both parents working, just to make ends meet?

The minimum wage will buy you nothing and hasn't been raised in how many years?

Millions of jobs shipped overseas because there they can pay 10% of salaries here. Bottom line again. Make your company look good, get more money.

RE: board of directors set salaries, compensation, bonuses, "golden parachutes." Yep - I sit on your board, you sit on mine, we raise each others pay. "Corporate incest."

Years ago CEOs earned about 10 times the average worker (who actually makes the company profitable by their labor). Now they average 40-50 times, while getting so many 'benefits' (use of the corporate jet, paid insurance, guaranteed 'pensions' even if the company loses money...).

The middle class, the workers, the backbone of the USA, is dying. The gov passes 'tax reform' that saved Bill Gates $12,000,000, Dick Cheney in the neighborhood of $500,000, etc etc etc, while 'saving' the rest of us mayber a thousand, while the national debt skyrockets.

And, in my field, those without insurance crowd ERs, and YOU pay the bill. (BTW, I'm a pediatrician because I like it. Lowest paid 'specialty' in this country, and I'm certainly not getting rich.)

Now, look at other countries. A friend in Canada paid 48% in taxes last year. My taxes (income, FICA, Medicare, sales, property, etc etc etc) amounted to 54%. What do I get for that compared to him? Meanwhile I see people who can't buy their meds (WAY high priced compared to other countries 'cause we don't dare question BigPharm). I see people that go to the ER with serious conditions, who can do nothing but get worse because they can't get the needed follow-up.

So, add up your TOTAL taxes sometime. Then figure out what you get for it. 'Socialism' is a nasty word, designed to raise peoples' disgust. But for what we pay we get little.

Unless you're a CEO, or sell your company (YouTube to Google) to get rich.

[R Payne]

It's a problem of ignorance and greed. The greed is obvious to see, everyone wants everything. Some are lucky enough to find a way but then just want more and don't care at whose expense. The ingnorance comes in because this is a cycle that repeats. History is repleat with examples of the upper or ruling class getting everything at the expense of the middle or working class. This makes the working class the starving class. People are only willing to starve so long before they rise up violently, usually killing the upper class to redistribute the wealth. By the indicators I see (upper class pay, increased violence, etc) I guess we in America are less that 50 years from riots and rebellion if nothing changes.

ron

[Jim Bell]

Most work and sell themselves at wholsale level. These are called employees. Employers make a little off each worker and normally sell the product/service at the retail level for a profit. The employees in turn take their wholesale paycheck and shop/spend in the retail sector. This explains why when you think that little extra cash is at hand generally SOMETHING happens to put the employee back where he was last week. If you want things to be different you must do something different. Working hard isn't always the answer. To succeed you must work smart. You make a living working 9-5. You make a fortune working from 5- midnight. I agree the CEO salaries seem outrageous. So become a CEO. With a little research you will find many CEO's and self made millionaires are not highly educated. Many never finished high school. Attitude, work ethic and tenacity will go a long way to making a brighter future. I hope this is of value to you. It sure helped me.I grew up in a home with no plumbing or electricity. My parents had little except 6 kids and I was the oldest. I could go on but my point has been made. It is up to each of us to find our way. I wish you all the best.
Jim

[Kristian Wild]

Yeah it gets me stirred up too. Here's another little factoid I found eye-popping: The three richest people in the world are worth just slightly more than the 48 poorest countries in the world. Wow...now that's just not right.

Kris