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  •  Executive Pay Not the Point (2+ / 0-)
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    Silverleaf, jct

    Even absurdly high executive pay wouldn't skew numbers significantly -- there simply aren't enough executives.   What this IS about is an economy driven exclusively by and for the interest of corporations AND THEIR STOCKHOLDERS.  That's where the income disparity is real: between large-scale stockholders and everyone else.  

    •  We ARE the stockholders (0+ / 0-)

      That's why Republicans win in states like NJ and CT.  It's because we have money in our 401Ks in these companies.  

      -3.63, -4.46 "Choose something like a star to stay your mind on- and be staid"

      by goldberry on Wed Feb 07, 2007 at 11:18:32 AM PST

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      •  I have read that eighty per cent (0+ / 0-)

        of the market is owned by the wealthy. Probably wealthy foreigners are part of that 80%.

        The 401ks own the 20% probably. Correct me if I am wrong.

        The way I look at my 401k now, is it is going to help pay the higher prices that are caused by stock market profits. I will not make enough off my stock funds to pay totally for the increases in everything I buy, but it will help.  

        Staying in Iraq, we continue to kill many, slowly. If we leave Iraq, many will die, faster. The outcome is the same in the long run. Sad.

        by relentless on Wed Feb 07, 2007 at 11:25:31 AM PST

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      •  No we're not. (1+ / 0-)
        Recommended by:
        Canadian Reader

        That's the myth: that we're all in this together.  No we're not.  We got a small taste, one that doesn't come close to covering the rise in costs of other services (health care, education, housing, etc.), while they get a feast.

      •  According to Federal Reserve research (0+ / 0-)

        using data from 2004 (summarized at my blog):

        • The wealthiest 1 percent of Americans held 33.4 of the wealth in 2004.  The top 5 percent collectively held 55.5 percent of the wealth in 2004.
        • The poorest 50 percent of the American population collectively held 2.5 percent of the wealth, the very wealthiest 1 percent of Americans own a bigger piece of the pie (33.4 percent) than the poorest 90 percent put together (30.4 percent).
        • The wealthiest 1 percent of Americans owned 62.3 percent of the business assets in 2004.
        • The wealthiest 5 percent collectively owned 88.7 percent of business assets.
        • The wealthiest 5 percent also owned 93.7 percent of the value of bonds, 71.7 percent of the nonresidential real estate, and 79.1 percent of the value of stock.

        The family net worth cutoffs referenced above are:

        99th percentile at $6,006,000
        95th percentile at $1,393,000
        90th percentile at $827,600
        50th percentile at $92,900

        About 8% of Americans are millionaires.

        "Those who can make you believe absurdities can make you commit atrocities" -- Voltaire

        by ohwilleke on Wed Feb 07, 2007 at 02:07:09 PM PST

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    •  Top executive pay lifts the ceiling (0+ / 0-)

      on pay for other senior executives whose pay doesn't get recorded.  Generally, corporations that employ thousands of people are only reporting the top five officer's pay.  But, there are legions of Vice Presidents and Junior Vice Presidents, etc. that don't make that list and still get gobs of money, and there are a great many privately held companies in which top executives likewise get gobs of money.

      Keep in mind that if, e.g. a venture capital firm or investment bank is a major shareholder of a company, it probably isn't publicly traded.

      "Those who can make you believe absurdities can make you commit atrocities" -- Voltaire

      by ohwilleke on Wed Feb 07, 2007 at 02:02:41 PM PST

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