I would like to add my comments on the wealth redistribution efforts that the Republican Party likes to accuse the Democrats of attempting.
Recent news articles stated that the average CEO in 1980 made 43 times as much as the average worker. In 2011, this disparity has grown to about 345. Since this an average, there must be even higher extremes. Isn’t this ludicrous?
If CEOs would take a modest cut in this gap – down to, say, 100 times – the businesses could reduce the cost of their products or services. This probably would result in an increase in sales (demand). An increase in sales would require an increase in production, thus an increase in hiring. This is, after all, the secret to capitalism.
Since this is not likely to happen, the government might step in and take part of this excess, through taxes, and use it to create jobs. We all know this is not the preferred method, because government bureaucrats would not get the bang for the buck needed.
The CEOs could do a better job – if they only would.