How strong is the work ethic of a person who demands more than $500K/annum to take and keep a job? While the industry of such a person is open to question, there can be no question about his/her greed; it is indubitable.
Does getting the best really cost more? How much more?
Talented quarterback Matthew Stafford's record $41.7 to $78 million deal with the Detroit Lions is a current example. Not bad for a 20-something-year-old. To me the pay is totally out of proportion to the value of any athlete -- but who else is complaining? The free market system is at work.
Consider a similar case, starring the leaders of business, the CEOs. They are being demonized over earning a great deal less money for positions that are a whole lot more important to our collective well-being than one NFL quarterback.
If we were in a position to decide, would we not want the very best and brightest talent running our nation's businesses, too? Historically the free market system has set the price of that leadership, just as it has for athletic stars. But lately many want to demonize the top leaders, sanctimoniously crying that "we" should not have to pay that much.
President Obama says that $500,000 per year is plenty. It may sound like plenty. But when the first-round-draft-star CEO succumbs to incredible assailing pressure and quits, his employing company is left to be managed by second- and third-rate players. How smart is that? Is that the result that anyone interested in success would really want?
One situation involves a promising upstart selling himself in a free-market system -- the other, proven leaders bowing to those who would settle for mediocrity. The difference, of course, is that the government is now involved in business -- through bailouts, regulation, investing and other similar euphemisms.
What would you choose: free market or government control?
I hope capitalism wins, every time.
Tom Robertson
Augusta
Comments
How strong is the work ethic of a person who demands more than $500K/annum to take and keep a job? While the industry of such a person is open to question, there can be no question about his/her greed; it is indubitable.
greed and the ability to earn a lot of money fuels inventiveness, creativity and a get-it-done attitude that this country needs to move us out of this mess....i will agree that our recent troubles appear to have been caused by the greed of unethical, evil people but it was not the greed, just the lack of ethics and actual criminal behaviors....enforce the laws but don't try to outlaw greed
justus4, i don't agree that free market is a joke but the rest of your post actually makes a lot of sense
Sir Fred, that "inventiveness" and"creativity" got us into a terrible mess, because mostly it was in service to their own greed. The letter writer says these guys are "the very best and brightest talent". If so, we're in deeper sh** than we yet realize. Perhaps some of that dazzling talent should be tempered with accountability (and not just to shareholders, but to the company's employees) and foresight....you think?
Craig Spinks feels mediocrity is good enough, justus4 , after contradicting himself, feels success is the result of politics and most of the other posters feel greed is necessary for success. I think the definition of greed has been the epitome of relativism and therefore is the whipping boy for wealth envy. "A selfish and excessive desire for more of something than is necessary". The non-achievers always seem to feel the achievers have "more than is necessary" and the achievers always feel the over-achievers have "more than is necessary". So, which says the most about a person? The amount of greed they display, or the amount of wealth envy they display? From my humble perspective, our president has declared his value at $500,000 and decided no one is of more value. For perspective, each of the Clintons felt their autobiography was worth 20 times what Obama thinks he's worth.
Wow, Look at all of the wealth envy on here this morning! If I started a company, I SHOULD be able to hire whoever I want and pay them as much as I want as long as I am not getting a govt bailout. The rest SHOULD be nobody else's business.
To take it a step further, a salary of $500,000 after Obama's tax increase should be cut in half. So someone that is working their tail off for a promotion will take another look. Why would someone want to take on more responsibility, more hours, more stress, less time with their family, so they can pay more taxes because SOME people think that is what is "fair". Doesnt that sound ridiculous? So, if you are smart, you will not take the promotion and the person that is less qualified and not as "bright" will take it. Unless Obama plans to force people to take these jobs just as he plans to force doctors to work and accept his socialized health plan. Doesnt anyone care about free will anymore??
free market is very expensive under this administration. Sieg heil
A requirement to run for public office - At least 1 year of experience working in the business world.
The Fortune 500 CEO creates jobs and employs thousands of people with his leadership--remember that not all CEOs are corrupt! Companies like General Electric, Walmart, AT&T, IBM and McKesson Corp. have outstanding leadership, and the strength of their corporate structure is what keeps our prices low and keeps the products we need flowing into our homes. The athelete only passes his wealth on to one person at a time; the maid, the waiter, the hotel clerk, the masseuse. Who impacts our economy more for the better? The CEO!
The free market also allows for the culling of poor leadership. Stockholders can and do demand the removal of bad CEOs. Once the government takes over the marketplace, there will be no getting rid of the corrupt leaders that will infect our system! They will be in for life, and our economy will finally know REAL poverty for generations to come.
Tom, you used a football analogy, not bad, but you needed to take it one step further. If Matthew Stafford doesn't live up to the hype in about 3 years time, do you think he'll see a dime over the $41M that he's guaranteed? He won't. There are many players in the NFL that don't live up to the hype and are released, cut or traded. Let's take that over to the business world. CEO's making millions in bonuses. As I understand this, a bonus should be paid for superior performance, not for running your company into bankruptcy. If your company is going bankrupt, where's the superior performance to justify being paid a retention bonus? If you have to take billions in taxpayer money to keep your company afloat, you definately have fallen short of superior performance. We aren't settling for mediocrity, just not wanting to play the same old games anymore. If the 1st round draft star CEO quits, there are many more lined up behind him waiting to take his place.
Please remember that we aren't talking about people who started companies, but people who ran them into the ground and came begging to the federal government. They are free makret capitalists only when it suits them, like most of the right wingers on this comment board.
Wrong ReasonRules, again. The problem came only after government interfered in the free market system. Until the impossible guarantees of Freddie and Fannie, there was no reason to give unsecured loans or to package and resale these loans to raise investment cash. Those were terrible techniques for staying in business and the companies knew it, that's why the interference was "necessary" to promote the social engineering. The free market was unable to survive the social engineering efforts. Now, fools and other easily tricked people are defending the interference and supporting ADDITIONAL interference.
ReasonRules, who let the CEO's run the companies into the ground? I am all for ousting those that took bailout money. Bailout money should never have been given in the first place. But putting a cap on other companies is taking things too far.
Excellent point, Reason. What many mistake for a working model of capitalism is actually a capitalist pyramid where there's no improvement in anyone's situation.
As long as there are stupid people who will pay $100 or more to watch the Loser Lions, then Mr. Stafford will be rich. Come to think of it there are still people who will pay $1,000 or more to go and see Dick (Wide Load) Cheney lie about the US Constitution. So there are a lot of stupid people with money in the USA. Isn't life wonderful. We need laughter, and it's right in front of us, so take the opportunity and look on the lighter side.
What many mistake for a capitalist pyramid is actually government interference in the free market.
Laughing at and insulting achievers is a wonderful way for the easily tricked to feel justified. No harm done and the easily tricked tricks themselves.
If Stafford doesn't produce, he'll be out. It won't be up to his buddies on the board to keep him in place and increase his bonuses and salary. Interesting that some gripe about what the average worker makes, and say he can go elsewhere to get a job if he doen't like what a place is paying, but defend the excessive salaries and bonuses of those at the top who aren't producing and in some cases running the company into the ground.
Not defend those at the top, TechLover, just defend the company's right to keep or remove those at the top. This is not a job for government. (except for Chavez and Castro). Also, the bailout isn't a job for the government....anywhere. Neither Bush nor Obama should use taxpayer money to support these companies, but it was part of the "interference agreement" with Freddie and Fannie. As things got worse (as a result of interference) the rules of the agreement kept changing. We're now in danger of nationalizing businesses. The government is refusing loan repayment and want common(voting) stock instead. "DANGER, WILL ROBINSON!"
It's pretty obvious Niko has some sort of weight issues. Do you post anything w/o mentioning a FAT Republican? haha cause there certainly aren't any "wide load" Dems, right?
I would think your NFL reference would not be the first choice in exemplifying free-market capitalism. Are you pro-union??
Stafford will play in Ford Field, 51% of it's $430 million dollar pricetag was paid for by taxpayers. Same as Augusta with it's proposed stadium, if it's such a good investmet, let the free market operate and let private businesses pay for it. PT: Are you really as big an idiot as you appear to be on these posts? Your repetitive mantra of supporting oligarchy wears thin. You would have made a good overseer or sweatshop owner. No regulations, no workers rights.. I'm sure you're sorry we no longer have a monarchy. That way you and your select few could have control over everyone. Let them eat cake. After all, only those with money are achievers, whether they work hard for it or not, and should make all the rules, no restrictions, no oversight, scr*w everyone but yourselves. Money is your God. Those with more of it are God's chosen ones. You are a sad, sad person.
TechLover, calm yourself. You've made a series of inaccurate assumptions, as usual. Do you know an oligarchy is government by the few? I'm for a government that DOESN'T micromangage and that DOESN'T decide a person's income and DOESN'T decide what is "hard work". I'm for a government that DOESN'T interfere with a business as long as it operates within the prescribed limits of monopoly and price fixing. I'm definitely for some regulation for the health of the economy of the nation and I'm for reasonable oversight to assure this limited regulation is adhered to. I'm not for caps or over regulation that stifles business or growth. Worker's rights need to be defined and who is responsible for the workers needs to be defined. Minimum wage is a tax on the stupid. Nobody else supports it and it prevents the young from getting necessary experience in the work world. I'm for allowing cake eating for those that can afford it, but for allowing those that choose to spend their money elsewhere to do so. I'm not for condoning sloth, drug abuse, child abuse and the growing criminal class just to buy a vote. And I'm not for punishing the achieving class to reward the parasite class.
I understood and agreed with your first post patriciathomas. Your second explanation was very thorough and would be hard to disagree with. Oh wait, what am I saying? Ofcourse, someone will come along and say you are a racist or an idiot. But I am with you! Well said!!
PT, that's madness, I tell you, madness!
Is it 2012 yet?
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