Quote:
Originally Posted by Bucco
With the current situation in this country, I cannot see again another Lee Iacocca.
We are in a country now where redistribution of income is the by word...no need to try and pull yourself up and be somebody. Those days, I am afraid, are over ! Being successful seems now to be something to be ashamed of !
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Bucco is right, we probably won't see another innovator like Iacocca coming from the CEO "CLASS"- In fact, the ACTUAL "redistribution" of wealth is the fully-documented obscene surge of CEO, management and Board compensation compared to the average American worker over the past 20 years.
CEO's and Boards are no longer concerned with innovation, rather they are more concerned with monopolies through Mergers and Aquisitions. THAT is the real income redistribution and class warfare that no-so-"Free Marketeers" would hoodwink the American people with. Class warfare from Free Marketeers are what is really choking off innovation, competition, capitalism and free enterprise.
"Being successful seems now to be something to be ashamed of." Well, if you look at the WANTON financial rape that CEO's and their Boards are perpetrating, THEY
should be ashamed!
Iacocca, Sam Walton, Bill Gates, Buffett and other innovators
should make as much as they possibly want to/or can. On the other hand, the incestuous relationship between CEO's and their Boards has bred a newer job category- "Professional CEO." These individuals may or may not be entrepreneurial, but their job classification makes them virtually immune to that criteria. Let's not even get started with trust funders like the 5 Walton Children and their "hard earned" 7 billion dollar (each) inheritances.
The real class war begins with corporate CEO shills. Take Robert Nardelli- who, fired from his $129 million debacle as CEO Home Depot, now runs Chrysler- into the ground. The argument was that Nardelli was not part of a public corporation (Chrysler went private in 2007)- but look who's got to bail them out now.
Making all of this "Socialist redistribution" crap even more offensive to intelligent people is the fact that stock options and payouts are taxed as Capital Gains rates,not as regular income. Guess who wants to
eliminate the Capital Gains tax? Hint: It's not the "Socialist Redistributionists."
To make it even more offensive? Some corporate officers are offered compensation at "off-shore" tax rates- like zero percent in Grand Cayman or Luxembourg. While the IRA has cracked down on this, we've seen that large corporations are not always the most trustworthy when dealing with their P & L statements,or their compensation disclosures. Do we blame the poor schmoe who works for $10 an hour on an assembly line... or Enron or AIG or Citibank for this long-brewing economic crisis?
So folks, when you hear from the rear end of the horse how the "noble" front end of the horse can't "pull itself up and be somebody," consider the sources, generally speaking. Class warfare has been waged since Rome had slaves- and generally speaking, Rome always wins! Put blame for this where it belongs. Fortunately, the American people saw through the horse, uh, stuff, and bounced the greediest shills out of office. The problem, the Demcorats who replaced them are virtually identically indentured to those same Big Business warriors.
By the way- some interesting- and incontrovertible- statistics:
According to the U.S.Bureau of Labor Statistics:
In 1965, U.S. CEOs in major companies earned 24 times more than an average worker; this ratio grew to 35X in 1978, to 71X in 1989, and 143X in 2002.
In 2005 that figure was a whopping 262 times the average worker!
If you guys want to complain about schemes for "income redistribution" let's have a little honesty in the room.
During the same period in 2004, Japanese executives earned, on average 11times that of the Japanese worker, and in Germany CEO's earned 14X more. Neither of these countries have any of the "Socialist" redistribution systems that not-so-free-marketeers use as a diversion from their obscene apologetics of U.S. corporate executive greed.