Ronald Reagan on Economics, 1976: "The Modern Little Red Hen"

[AJ_Skins]

I agree, I don't think anyone should be getting handouts but I also don't think the govt (or a party) should work on behalf of those who have the most to help keep and earn more than what they already have as I feel our current administration does. Your story showed how socialism can kill the spirit, mine showed how when unregulated in capitalism, corporations can exploit workers taking much more than their share again sapping the spirit. Both sides have flaws, there needs to be a medium. No one should get handouts but at the same time, almost 30% of our counrty works for near minimum wage and have to work 60 and 80 hours a week to get by. I don't think that's right. Obviously, some jobs should pay more than others but I just think it's insane that CEO and the like need 400 million dollar severance packages. I'm not talking about socialism, I'm talking about adjustements in the pay scale because the people at the top take a lot more than they deserve.

You're saying the government should regulate how much people are paid for different jobs?

By the way, I'm not nearly as offended by that kind of pay for a CEO who leads a company from losing money to making billions of dollars in profits, providing goods and services, jobs, and retirement wealth for shareholders as I am by people who make the same kind of money for being a professional athlete or a movie star. Yet somehow, nobody ever seems to complain about them.

[AJ_Skins]

Capitalism in it's purest form doesn't work either.

Neither extreme does. The answer, like all things, lies in the middle.

The only thing that lies in the middle is mediocrity.

[DCsportsfan53]

Capitalism in it's purest form doesn't work either.

Neither extreme does. The answer, like all things, lies in the middle.

Why do I have to be so long winded? This is exactly what I was getting at, Zoony.

[DCsportsfan53]

You're saying the government should regulate how much people are paid for different jobs?

By the way, I'm not nearly as offended by that kind of pay for a CEO who leads a company from losing money to making billions of dollars in profits, providing goods and services, jobs, and retirement wealth for shareholders as I am by people who make the same kind of money for being a professional athlete or a movie star. Yet somehow, nobody ever seems to complain about them.

They still make pennies compared to the owners and the only reason they have what they do is because they're in the public spotlight and have more resources as such to bargain with. I still have a problem with a CEO making more in a day than his factory workers, without whom the CEO would nothing, make in a year.

[AJ_Skins]

I still have a problem with a CEO making more in a day than his factory workers, without whom the CEO would nothing, make in a year.

Wait a minute, I misread that. I thought you were saying they should be paid the same. The problem is, you can't go around dictating what people can be paid in a free country.

[DCsportsfan53]

Wait a minute, I misread that. I thought you were saying they should be paid the same. The problem is, you can't go around dictating what people can be paid in a free country.

I never once said they should be paid the same. I specifically stated some jobs should pay more than others and that I'm not talking about socialism. All I'm saying is there's a little to much disparity between the 400 million dollar CEO and $9 an hour factory worker. No one needs as much as the CEO and it's hard for anyone to live in this country at the worker's wage. My hope would be (this is completely idealistic, I know it will never happen) that companies would sacrifice a little in top end profit so that all their employees can at least live comfortably. But it won't happen, the more power and money they have, the more they'll try to take and the more they'll try to exploit their workers, unfortunately, greed is a big part of human nature. Just take Walmart (sams club) vs Costco as an example. Costco pays there workers well, gives good benefits and still turns a nice profit. Walmart shafts their employees, begrudges benefits while the owners become some of the richest men in the world. I'm not saying I want socialism, I just wish more companies would behave like Costco in the example. Unfortunately, I doubt it'll ever happen and it certainly will never happen because of the good will of those at the top.

[AJ_Skins]

You don't have a good understanding of how corporations work. The job of every employee of a publicly held corporation (which all of the biggest ones are) is one thing, and one thing only: to make as much money as possible for the shareholders. Every economic decision made by the company is directed towards that goal.

The bigger the company, typically, the larger number of shareholders there are. I have a small amount of savings (which I hope to increase) in mutual funds. I am, indirectly, a shareholder of Microsoft, Pfizer, and a number of other large corporations. I am far from rich. When they make a profit, their stock price goes up, they pay dividends, and I make money.

[AlexRS]

The only thing that lies in the middle is mediocrity.

Yeah we all heard about "The Wisdom of Extremism"

[AlexRS]

You don't have a good understanding of how corporations work. The job of every employee of a publicly held corporation (which all of the biggest ones are) is one thing, and one thing only: to make as much money as possible for the shareholders. Every economic decision made by the company is directed towards that goal.

Are you familiar with the concept of Ethics?

[AJ_Skins]

Yeah we all heard about "The Wisdom of Extremism"

Let me put it this way: one person says 2+2=4. Another one says 2+2=8. You say 2+2=6. You're in the middle, only one of you is right, and it's not you.

[AJ_Skins]

Are you familiar with the concept of Ethics?

I think there have to be laws in place to make sure companies don't cheat their shareholders or their customers, and to make sure there is competition in the market. That's a far cry from the government getting into the business of setting wages, which is destructive to the economy in the long term.

If you want to talk about extreme positions, that's one. You don't even hear the most far-left Democrats proposing wage controls. There is a minimum wage, but that's as far as it goes.

[Destino]

Let me put it this way: one person says 2+2=4. Another one says 2+2=8. You say 2+2=6. You're in the middle, only one of you is right, and it's not you.

No matter how you put it, you're preaching nonsense. The extremes yield nothing but blind idealists more concerned with purity of ideology then actually getting anything done.

[AJ_Skins]

No matter how you put it, you're preaching nonsense. The extremes yield nothing but blind idealists more concerned with purity of ideology then actually getting anything done.

I'm not arguing for extremism, so much as arguing against moderation as an ideology of its own. There are very often right and wrong answers, and halfway between right and wrong is nothing but a bog.

[Destino]

I think there have to be laws in place to make sure companies don't cheat their shareholders or their customers, and to make sure there is competition in the market. That's a far cry from the government getting into the business of setting wages, which is destructive to the economy in the long term.

If you want to talk about extreme positions, that's one. You don't even hear the most far-left Democrats proposing wage controls. There is a minimum wage, but that's as far as it goes.

I agree with you on wages but the government did have to step in and regulate the work day, child labor, safety, hiring practices, and other issues.

[DCsportsfan53]

I think there have to be laws in place to make sure companies don't cheat their shareholders or their customers, and to make sure there is competition in the market. That's a far cry from the government getting into the business of setting wages, which is destructive to the economy in the long term.

If you want to talk about extreme positions, that's one. You don't even hear the most far-left Democrats proposing wage controls. There is a minimum wage, but that's as far as it goes.

Man, come on, I never said the govt should set wages. I never offered a solution to the problem because honestly, I don't know what that would be. All I was trying to say I believe that the current wage disparity, which is increasing and the rich are becoming exponentially richer, is not right. I wish corporations would take it on themselves to treat and pay their workers fairly. I don't think the govt should set wages so much as raise minimum wage and make certain benefits a requirement. I'm not after a socialist state. I just think that anyone who works hard and puts in their hours shouldn't have to struggle as much as many hard working americans currently do.