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Guest BoomBoomCrash

Pay Gap Widens Between Executives And Their Staff

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http://www.guardian.co.uk/business/2009/se...y-survey-ratios

The rich continue to get richer meanwhile it's pay freezes and redundancies for the people that facilitate their opulent lifestyles.

Typical guardian, begging for more taxes to fund their public sector non-job section.

Read the small print and you'll see that the executives are taking a pay cut (10% is more than offset by their rate of income tax going from 40 to 50, a 25% rise). But are you grateful?

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Guest BoomBoomCrash
And all caused by the minimum wage.

Any chance of a cogent explanation of how you arrived at this conclusion?

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Guest BoomBoomCrash
Typical guardian, begging for more taxes to fund their public sector non-job section.

Read the small print and you'll see that the executives are taking a pay cut (10% is more than offset by their rate of income tax going from 40 to 50, a 25% rise). But are you grateful?

With 8 figure salaries it does not really impact their lifestyle. Meanwhile the people creating the wealth to pay those salaries are being subjected to pay cuta and redundancies, and they can ill afford it.

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Guest BoomBoomCrash
500px-Supply-and-demand.svg.png

Basic economics.

Without a legend this chart is rather pointless. Even with it will probably remain so.

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Guest BoomBoomCrash
Kazakhmys-FTSE-100-mining-001.jpg

That's not a steel mill, that's just some xBox game.

Given the atrocious safety record of the company in question I believe they see it as a game too. I imagine the cost of paying out for accidents (some fatal) is lower than following established heath and safety guidelines.

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Without a legend this chart is rather pointless. Even with it will probably remain so.

Ah sorry. It's the classic supply and demand motif.

I thought you'd spot it right away!

:lol:

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Given the atrocious safety record of the company in question I believe they see it as a game too. I imagine the cost of paying out for accidents (some fatal) is lower than following established heath and safety guidelines.

No doubt your solution is more regulation?

:lol::lol::lol::lol:

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Guest BoomBoomCrash
Ah sorry. It's the classic supply and demand motif.

I thought you'd spot it right away!

:lol:

I asked you to provide a cogent explanation not post a chart. If supply and demand were the cause then these executives would not be earning what they do.

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I asked you to provide a cogent explanation not post a chart. If supply and demand were the cause then these executives would not be earning what they do.

That's right - it's the minimum wage that's creating their huge salaries because it's keeping competition out.

Only competition will bring wages in line and the minimum wage is the barrier to competing.

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That's right - it's the minimum wage that's creating their huge salaries because it's keeping competition out.

Only competition will bring wages in line and the minimum wage is the barrier to competing.

Oh dear, oh dear :lol: So how do you explain high executive salaries prior to 1999? No, let me guess, it's the big nasty government stopping people from having a level playing field isn't it <-- NOTE: Cuts out endless pointless posts from Injin

I think my work here is done.

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Guest DissipatedYouthIsValuable
That's right - it's the minimum wage that's creating their huge salaries because it's keeping competition out.

Only competition will bring wages in line and the minimum wage is the barrier to competing.

********.

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Without a legend this chart is rather pointless. Even with it will probably remain so.

Par for the course for most graphs posted on here.

As far as I understand it, the unwritten 'Figure Legend' of the posters is typically 'I am considerably cleverer than yuw.' We had a little discussion about this a few weeks back amongst the OT-Subforum Morlocks.

I assumed Injin was having a laugh along these lines, as he visited us at around the time we had said discussion.

Edited by General Melchett

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Only competition will bring wages in line and the minimum wage is the barrier to competing.

I'm not completely thick but this just doesn't make sense to me; no matter how much I read it. It seems more likely to me that throughout history human greed has been the barrier to competing. You can't point to a recent time (1999) and blame that.

Edited by MinceBalls

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Competition only applies for the worker, it's a closed shop monopoly for CEO's. The larger the discrepancy between the top and bottom the bigger the bust. Trickle down economics is a fallacy. And the gap will widen even more as we return to our feudal system perfected in the middle ages. Unlucky for us serfs. Green shoots, not in this lifetime.

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