Lover of Life, Liberty, & the Pursuit of Happiness * Political Hobbyist * News Junky and Recovering Democrat. eLearning Developer. My opinions are mine alone
@3rdDownDraws@AAGDhillon@CivilRights@TheJusticeDept What happened to Martin Luther King’s Dream? If we went by by your standards, my black niece who is a welder would be a better fit for this position than my Hispanic lawyer grandson who looks more like his Irish grandfather than his Hispanic father! Who’s the racist/sexist here?
Socialists imagine a class struggle. In their made-up fantasy the CEO is in competition with low level workers, the wealthy entrepreneur is stealing from the underpaid nurse.
In reality, workers do not compete vertically they compete horizontally.
Entrepreneurs compete with entrepreneurs. Investors outbid each other. CEOs are benchmarked against other CEOs. Nurses are hired from a pool of nurses. Etc.
The CEOs pay has no correlation to the entry level workers. The Football star on £300K a week isn’t linked to the person selling drinks in the stadium. A biotech entrepreneur raising VC capital isn’t paid relative to a cleaner.
What is linked is the demand and supply dynamic of each role.
If a company places an ad for a qualified truck driver and 150 people apply for the role, then the company knows it does not need to increase wages for that role. If the company has an open role for months, it is forced to look at the compensation package.
Same for a CEO. A board representing shareholders would like to hire a CEO for a lot less if they could. Their dream scenario would be to hire a CEO who brings in institutional investors, attracts top executives, drives innovation and growth, keeps margins steady and is a good public face for the business even under pressure. It turns out there aren’t a lot of these people looking for work and if you want one you have to pay more than other companies are offering.
The class struggle isn’t vertical it’s horizontal. CEOs are in competition with CEOs. Retail workers are in competition with retail workers. Demand and supply dynamics set the price.
Sure you can say that a CEO want’s profitability and would like wages to be lower BUT it’s not up to the CEO - demand and supply tension sets the price of workers. An Airline like RyanAir would like free pilots if they could get them but they can’t… so they pay the market rate.
The reason incomes are rising at the top and falling at the bottom is not class warfare. It’s technology and globalisation.
Technology makes basic jobs simple, remote or fully automated. At the same time tech makes executive roles more leveraged, more important and more valuable.
A CEO used to run a smaller organisation. Today a CEO who’s 2% better on a $5B company is generating $100M more. Seems sensible to try and pay a few million to get $100M.
Globalisation has put workers from all over the world in completion with each other - downward pressure on wages. Globalisation has given CEOs more market opportunities to explore - upside opportunity to unlock.
The rich are not very interested in buying houses that poor people own. The poor are not buying up the homes the rich want. They are separate groups living separate lives. Try finding the genuinely rich people whose strategy is to hoard normal residential homes - it barely exists as a thing. About 85% of landlords are people who own 1-4 properties. Super-landlords (100+ properties) are 0.2% of landlords and own a tiny fraction of the 30M homes in the UK… and they’re heavily taxed.
Class warfare isn’t real. It’s an imagined war in the minds of socialists.
Demand and supply dynamics are real. To the degree it is measured in class, it’s a horizontal competition not a vertical one.
@ClayTravis@mirandadevine Rape prosecutions are extremely difficult especially when you have a relationship with the perpetrators and were much better at convicting people in the court of public opinion.
@dagenmcdowell Ironically we’re getting forced to take Medicare A&B at age 65 to keep our current primary health insurance. It will become our “Medicare supplement” or we’ll be dropped from it.
@donnabrazile The convention doesn’t represent the people it represents the Party! Once again Democrats are subverting the will of the people. It’s no longer consent of the governed! Did you all learn nothing from 2024?!?!
@ScottPresler I think everyday Americans have had enough of incumbents and we should upend it! And really we need to start cleaning out the career staffers on Capitol Hill that none of elected!
@mtaibbi Unfortunately due process in sexual assault cases is rarely enforced or accurate and the victims suffer mentally and emotionally for life. We live in a society where men think compliance is consent.
@RepJoshG The Democrats of Maine had a choice of who they wanted to put on the ballot! They chose home despite the allegations and red flags. The voters chose!
@ScottJenningsKY@MattWhitlock Wow! I just lost total respect for you on this! This is a total Weekend at Bernie’s play and reminiscent of Diane Feinstein! Your old friend Mitch needs to step down now for the good of the people of Kentucky, the party and his health!
@DashDobrofsky Let the people of Maine decide if he should be a Senator and not the political class! The people decided Trump with all his flaws was the right man, now Maine should decide!