Friday, July 2, 2010

Thank Goodness we have government to tell us how much everyone should be paid

A chicago alderman is calling out a walmart executive for getting paid too much. He certainly should. This terrible CEO is making more than an hour than his employees do in a year, that is if you argue he makes nearly double what he actually makes. The alderman's math was wrong by more than 50%, but that is not even the point. The CEO and the worker are getting paid the same wage. What can I possibly mean by that. One is paid in the millions, and one will make between 8-10 dollars per hour. I simply mean they are paid exactly what the market would bear. The CEO of Walmart would not be the CEO of Walmart if someone else offered him a better package. The same is true of the Walmart bagger, cashier, manager, etc. They are paid exactly what the market thinks they are worth, no more no less.

In the more hilarious/upsetting news of the article, the alderman who is upset that Walmart pays their workers so little is paid in the six figures for his work. The CEO gets his salary from the sales and profits of the company he helps run. He is not taking a single penny out of his worker's pockets to line his own. The alderman who is disparaging that CEO is the exact opposite. His salary exclusively is lined with the money of others. He never has to prove that he has acted efficiently, or that he has increased profits. All he has to do is sit back and collect his paycheck paid from people like you, me and the workers he feels oh so bad for.

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