Thursday, March 29, 2007
A booming economy for some, perhaps
We read in this morning's New York Times that the income gap become rich and poor continues to widen exponentially. Collectively, the top 300,000 income earners in our country earned as much in 2005 as those residing in the bottom 150 million. The analysis concludes that on average, the top group earned 440 times as much as the bottom group. Also those top earners' incomes rose about 9 percent, on average, or an increase of $139,000. Meanwhile, those at the "bottom," which includes much of the middle class, saw their incomes drop an average .6 percent or $172.
Meanwhile, we hear that Circuit City will lay off 3,400 workers, about 8.5 percent of its workforce, and replace them immediately with lower paid serfs. Those same laid-off workers are invited, however, to apply for these new lower-paid positions. These workers' were earning "well above the market-based salary range for their role," a company official said. Apparently, the $2,17 million in compensation that Circuit City CEO Philip J. Schoonover earns, according to Forbes.com, is just and fair.
To steal from Bob Dole, "Where's the outrage?"
Meanwhile, we hear that Circuit City will lay off 3,400 workers, about 8.5 percent of its workforce, and replace them immediately with lower paid serfs. Those same laid-off workers are invited, however, to apply for these new lower-paid positions. These workers' were earning "well above the market-based salary range for their role," a company official said. Apparently, the $2,17 million in compensation that Circuit City CEO Philip J. Schoonover earns, according to Forbes.com, is just and fair.
To steal from Bob Dole, "Where's the outrage?"
Comments:
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oh, but the trickle-down economics are supposed to work for everyone. Give me a break.
# posted by 
: 8:29 PM PDT
: 8:29 PM PDT
Good grief! Listen to you. Why don't you just pack your bags and move to a country where communism thrives?
How dare businesses operate on a profit basis! They are supposed to be our big mama.
And the audacity of those rich people! We let them work 80 hour weeks, take tremendous risk, and build businesses that employ other people, strengthen the economy, and pay almost all the taxes, and what do they do? They create more businesses, employ more people, drive more income into the tax base (decreasing the tax needed from the rest of us), and...gast!...get rich! They should immediately give all their money to the bottom income level of this country who know how to spend their money...on lottery tickets and Budweiser.
How dare businesses operate on a profit basis! They are supposed to be our big mama.
And the audacity of those rich people! We let them work 80 hour weeks, take tremendous risk, and build businesses that employ other people, strengthen the economy, and pay almost all the taxes, and what do they do? They create more businesses, employ more people, drive more income into the tax base (decreasing the tax needed from the rest of us), and...gast!...get rich! They should immediately give all their money to the bottom income level of this country who know how to spend their money...on lottery tickets and Budweiser.
# posted by : 6:56 AM PDT
: 6:56 AM PDT
There you go, B from D. Spoken like a true right-wing ideologue and free-market worshiper. Again you've held fast to your unyielding opinion that getting rich by screwing others is perfectly OK. How this bonehead Circuit City CEO is some sort of risk taker, as you assert, is beyond me.
Anyone who disagrees with your viewpoint that making money is THE ultimate good is automatically relegated as a communist. In other words, anyone who disagrees with you, hates America and should move to North Korea.
You of course overlook that most Americans think something is rotten these days when folks are fired simply for making too much money. But then of course that's why folks on the Right are increasingly marginalized and irrelevant.
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Anyone who disagrees with your viewpoint that making money is THE ultimate good is automatically relegated as a communist. In other words, anyone who disagrees with you, hates America and should move to North Korea.
You of course overlook that most Americans think something is rotten these days when folks are fired simply for making too much money. But then of course that's why folks on the Right are increasingly marginalized and irrelevant.
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