A Great article at “Labor Union Report”
Union bosses have been engaging in class warfare for so long now that it’s become standard for the media to echo the meme without challenge. An example of such mainstream Marxism is in today’s Bloomberg piece entitled ‘Runaway CEO Pay’ Could Support 102,000 U.S. Jobs, AFL-CIO Says. Bloomberg’s piece relies heavily on the AFL-CIO’s Executive Pay Watch, which was set up years ago to conduct a haves vs. have nots class warfare campaign to eventually have CEO pay limited by law or regulation. This was something union bosses accomplished to some degree with last year’s “Wall Street Reform.
Here is the AFL-CIO’s statement:
In 2010, Standard & Poor’s 500 Index company CEOs received, on average, $11.4 million in total compensation. Based on 299 companies’ most recent pay data for 2010, their combined total CEO pay of $3.4 billion could support 102,325 median workers’ jobs.
Using a simple calculator, it is easy to determine that the “workers’ jobs” would pay $33,227 per year (about $16 per hour), not counting union dues, of course.
What the article says is truth. CEO’s do make a lot of money, taking ALL of it would leave WHO to run the corporation? Nobody works for free and Unions don’t hire, produce or develop anything. They are LABOR.
Here’s the basic math on union dues and jobs they would create:
If we were to use a conservative figure of $50 per month for union dues, in 2010, unions collected $735,000,000 per month in union dues from America’s unionized workers. Multiply $735,000,000 by 12 months and you get a whopping $8,820,000,000 that was collected in union dues in 2010.
Divide $8,820,000,000 by $33,227 and you’ll find that if unions did not take union dues from workers in 2010, 265,447 workers’ jobs could have been supported.
So union dues would cover DOUBLE the jobs CEO’s salary’s would… WOW, I’m all for that.
The article misses a little though. Consider this: $33,227 a year is the salary, it doesn’t take into account benefit deductions, union dues, FICA, and State Taxes. Your take home pay would be closer to 25k than 33k. A take home pay of 25k a year doesn’t afford the worker much more than a full time employee at burger king.
Now, let’s look at the CEO’s salary. Why? Well because liberals love to talk about what someone else makes… CEO’s make a LOT of money, but why are they paid so much? They are paid to make a company profitable, they are paid to RUN a company/Corporation and they have to have the ability to lead a group of people in attaining that goal. There are very few high school drop outs who are CEO’s Most of them are HIGHLY educated, very intelligent men or women. They made some good choices in their education and in their lives to put them in that position. IF a company or corporations shareholders pay it’s CEO a gazillion trajillion dollars, it’s because they can afford it, he/she is worth it, and they are good at their job. Regardless of HOW MANY JOBS their salary would produce.
Class warfare. Where do you stand?