For example, we hear a great deal about economic “inequality,” a term that, in an open and dynamic society, means almost nothing. What the Left wants it to mean is that the poor are poor because the rich are rich, and that the middle class is struggling because corporate profits are high and billionaire playboys forget how many yachts they have. But that simply is not the case, as anybody who has even a passing familiarity with the actual economics literature on the subject can tell you. A $10-an-hour job pays $10 an hour because $10 an hour gets you somebody who can do that job. It’s not the case that it would have been a $12-an-hour job if only the CEO made $500,000 a year instead of $700,000.
But CEO pay usually isn’t a real big chunk of a corporation’s financial picture. In 2011, Apple’s chief executive, Tim Cook, was the highest-paid CEO on God’s green Earth, and his paycheck, large though it was ($376 million), amounted to about three-tenths of 1 percent of Apple’s revenue that year. The groundskeepers and secretaries in Cupertino don’t get paid what they get paid because of fluctuations within an approximately 0.3-percent-of-revenue outlay. You might see some compensation-rejiggering effects from a proportionally much larger outlay, such as the 24.2 percent of its profit Apple paid in taxes that year.
Read more at: http://www.nationalreview.com/article/438995/inequality-executive-pay-taxes-false-blame?utm_source=Sailthru&utm_medium=email&utm_campaign=Daily%20Trending%20Email%20Reoccurring-%20Monday%20to%20Thursday%202016-08-15&utm_term=NR5PM%20Actives
But CEO pay usually isn’t a real big chunk of a corporation’s financial picture. In 2011, Apple’s chief executive, Tim Cook, was the highest-paid CEO on God’s green Earth, and his paycheck, large though it was ($376 million), amounted to about three-tenths of 1 percent of Apple’s revenue that year. The groundskeepers and secretaries in Cupertino don’t get paid what they get paid because of fluctuations within an approximately 0.3-percent-of-revenue outlay. You might see some compensation-rejiggering effects from a proportionally much larger outlay, such as the 24.2 percent of its profit Apple paid in taxes that year.
Read more at: http://www.nationalreview.com/article/438995/inequality-executive-pay-taxes-false-blame?utm_source=Sailthru&utm_medium=email&utm_campaign=Daily%20Trending%20Email%20Reoccurring-%20Monday%20to%20Thursday%202016-08-15&utm_term=NR5PM%20Actives
No comments:
Post a Comment