Chippy_boy
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So what's your problem?
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Maximum Wage Law - Corbyn
- Thread starter SWP's back
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So what's your problem?
The perfect fumble
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So what's your problem?
Because capitalism is the most successful mechanism for generating wealth the world has ever seen, to undermine it puts in jeopardy the prosperity of all of us.
Chippy_boy
Well-Known Member
Paul Polman is the CEO of Unilever and has been quite vocal in the past about him being overpaid at something like €10m/year. I think he's decided not to take a pay rise for a while, which is what I would hope and expect responsible CEO's might do, without any need for meddling by the government.
Now €10m is a lot by any standards, but suppose he was awarded a 50% pay increase, i.e. an extra €5m. Let's say he decides he doesn't want to take this rise either, and he will distribute the €5m amongst his employees, equally. How much extra do they get?
The answer is 46p a week, before tax. 37p a week after tax. Of course he could share it out differently, with mpre senior managers getting say £1/week and the lowest paid only getting 20p.
But the point is, whether he takes this pay rise or not, makes fuck all difference to anyone. The only thing is "the principle of the thing". "it's not right that someone is earning 500x more than someone else". etc etc.
i.e. this has nothing to do with economics, it's simply bitterness and jealousy. The people at the bottom would not actually get anything more, they just want to see the guy at the top get less.
Now €10m is a lot by any standards, but suppose he was awarded a 50% pay increase, i.e. an extra €5m. Let's say he decides he doesn't want to take this rise either, and he will distribute the €5m amongst his employees, equally. How much extra do they get?
The answer is 46p a week, before tax. 37p a week after tax. Of course he could share it out differently, with mpre senior managers getting say £1/week and the lowest paid only getting 20p.
But the point is, whether he takes this pay rise or not, makes fuck all difference to anyone. The only thing is "the principle of the thing". "it's not right that someone is earning 500x more than someone else". etc etc.
i.e. this has nothing to do with economics, it's simply bitterness and jealousy. The people at the bottom would not actually get anything more, they just want to see the guy at the top get less.
mancityvstoke
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CEO's must pay loads of tax....whats the problem
Chippy_boy
Well-Known Member
Because capitalism is the most successful mechanism for generating wealth the world has ever seen, to undermine it puts in jeopardy the prosperity of all of us.
Is this a Clarkie? I fully understand and agree with the above, I just thought you struggled with it?
gordondaviesmoustache
Well-Known Member
I recognise this, but like you, it doesn't stop me having concerns about its worse excesses. Wage capping isn't the answer though, or anything vaguely resembling it.Because capitalism is the most successful mechanism for generating wealth the world has ever seen, to undermine it puts in jeopardy the prosperity of all of us.
aguero93:20
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I think you'll find the shareholders have the option of replacing the lot of them at an AGM or EGM.Jesus Christ!! a board votes in excessive pay for themselves, irrespective of their own performance and often irrespective of the performance of the company and they ensure that shareholders have no mechanism to stop them, but that's OK with you!
Chippy_boy
Well-Known Member
I think you'll find the shareholders have the option of replacing the lot of them at an AGM or EGM.
Oh, you've gone and spoilt it now.
What are his exit plans by the way?
He wants us to know that he is not 'wedded' to the idea of open borders and we should be considering stopping immigration and then in the next breath he said he believes that we should restrict immigration but only in respect of job agencies who exploit cheap labour in eastern european countries otherwise there should be open borders.
So in answer to your question he hasn't got a plan.
The perfect fumble
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Is this a Clarkie? I fully understand and agree with the above, I just thought you struggled with it?
I'm a social democrat, capitalism is great at generating wealth, it is becoming less successful at generating jobs and is crap at distributing the fruits of its endeavours. I hate capitalism red in tooth and claw it has exploitation at its heart, but my greatest hate is crony capitalism, it is nothing more than theft.
I work with small companies all the time, they put food on the table for millions, I want to see a more diverse model of ownership and I hate the pervasive nature of inherited wealth and privilege.
I support Jeremy Corbyn not because I agree with him on everything, I don't, but he is a counter-weight to the increasing influence of neo liberalism in this country. In a democracy we must have a strong truthful left which is people centred otherwise we leave it to the Bullingdon Boys, inside traders and crony capitalists.