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The MSM had another pearl-clutching hissy fit yesterday over President Obama's 'assaults' on Mitt Romney's Bain Capital record.

The president mocked the ideathat if weathy CEOs make more money, then there will be more jobs. And he said it's not enough to say people would be doing better if they just worked harder. In addition, he said, "You don’t make America stronger by shipping jobs over seas."
And CNBC's Michelle Caruso-Cabrera got in on it:
Michelle Caruso-Cabrera, guest host of CNBC's Kudlow Report, said the President "is once again at another fundraiser...attacking Mitt Romney, big business and private equity."
Watch the vicious 'mocking' attack the President engages is, but be sure to have your handkerchief and fainting couch nearby:
“His working assumption is CEOs and wealthy investors like him get rich, then the rest of us automatically will, too."
"The challenge we face right now, and the challenge we’ve faced for over a decade, is that harder work has not led to higher incomes, and bigger profits at the top haven’t led to better jobs," Obama added.
Watch here as the President 'mocks':

This is mocking Gov. Romney, because, everyone knows that when CEO pay rises, workers' pay rises, too. Right? Because, when CEO's make more money, there are more jobs to go around. Right?  Is that what they'tre trying to say? Poor deluded President Obama who must not know that jobs are up, way up, following the meteoric rise in CEO pay and unemployment is down, way down.

If it were true that higher CEO pay leads to more jobs, shouldn't it follow that we'd be experiencing historically low unemployment now - since CEO pay has risen to 380 times that of average workers, an increase of 298% from 1995 to 2005?

After all, according to Romney, a drop in unemployment from 8.2% to 8.1% is a 'terrible' jobs report, no 'cause for celebration',  and nothing greater than 4% is acceptable. So how does he square that with a meteoric rise in CEO pay? Newsflash to Gov. Romney - heady times for the 1% does not equate to prosperity for the 99%.  And it's not a 'assault' to point out this truth.

Average CEO pay vs. Average Worker Pay

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http://consumerist.com/...

Jobs Growth from 1995 to 2005 - less than 2% overall:

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http://www.businessweek.com/...

This begs the most obvious of questions. If CEO success equal success for everyone, why isn't everyone employed, and rich?

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Comment Preferences

  •  Tip Jar (8+ / 0-)

    "I'm sculpting now. Landscapes mostly." ~ Yogi Bear

    by eXtina on Thu May 24, 2012 at 10:42:34 AM PDT

  •  HP Is Cutting 27,000 Jobs (1+ / 0-)
    Recommended by:
    eXtina

    because they are not making enough profit for their stockholders.  Big corporations are all about the profit and nothing else.  What is wrong with stockholders getting less profit so workers can keep their jobs?  It used to be big corporations cared about America and employees and touted their products made in America.  Big corporations will kill American jobs and send them overseas if the labor is cheaper just so their stockholders will earn billions instead of millions.  It doesn't matter how low big corporations taxes are because it is all about the profit and the extra money they pocket in taxes will not create jobs but go to their stockholders.

    "Don't Let Them Catch You With Your Eyes Closed"

    by rssrai on Thu May 24, 2012 at 11:03:34 AM PDT

    •  Shareholders aren't benefitting much. (2+ / 0-)
      Recommended by:
      eXtina, OldDragon

      Average dividend payout from American corporations has held steady at just over 2% for more than 50 years. Increased profits are not being passed on to shareholders but are being siphoned off by massive increases in executive pay and massive increases in corporate debt.

      Congress shall make no law abridging the right of the people peaceably to assemble.

      by edg on Thu May 24, 2012 at 11:21:33 AM PDT

      [ Parent ]

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