The rise of inexpensive Chinese electric vehicles has upped the pressure on legacy automakers who have turned to suppliers, from battery materials makers to chipmakers, to squeeze out costs and develop affordable EVs quicker than previously planned.
A corporation might have 10 C-level guys dividing $50 million amongst themselves and 10.000 workers earning $70K, which costs about $100K due to overheads (health insurance, retirement, etc). Together, that’s a billion, which is 20x more than the C level guys.
The C level guys aren’t the big expense, not by a long shot.
Labour, government and shareholders divide most of the earnings amongst themselves.
For the record, I do think we need to tax the wealthy more and the workers less.
Without the workers there’s no product, no income. The C-suite is dispensable. The workers aren’t.
Besides, worker productivity has been skyrocketing for the last 50 years, as has cost of living, but worker wages have been stagnant. C-suite pay has kept up with the increase in productivity, though, if not outpaced it.
Saying that the C-suite are paid too much compared to workers isn’t contradicting that greedflation is the main reason for higher prices. The two are in no way mutually exclusive.
I’m not downvoting you for responding. I’m downvoting you for spreading commonly believed pro-corporate apologia.
The sad fact of the matter is… math
A corporation might have 10 C-level guys dividing $50 million amongst themselves and 10.000 workers earning $70K, which costs about $100K due to overheads (health insurance, retirement, etc). Together, that’s a billion, which is 20x more than the C level guys.
The C level guys aren’t the big expense, not by a long shot.
Labour, government and shareholders divide most of the earnings amongst themselves.
For the record, I do think we need to tax the wealthy more and the workers less.
Without the workers there’s no product, no income. The C-suite is dispensable. The workers aren’t.
Besides, worker productivity has been skyrocketing for the last 50 years, as has cost of living, but worker wages have been stagnant. C-suite pay has kept up with the increase in productivity, though, if not outpaced it.
I have no disagreement on this argument.
But C-suite compensation is not a significant part of prices.
Energy prices, tax, labour costs and the cost of capital (i.e. returns to shareholders and creditors) are what drives prices.
Fixed that for you. They’re raking it in while blaming it on everything except their own profiteering. It’s greedflation , pure and simple.
You are literally contradicting yourself.
And it’s childish to downvote someone who is actually responding to you.
I’m not going to waste my time on someone who can’t be reasonable and civil.
Saying that the C-suite are paid too much compared to workers isn’t contradicting that greedflation is the main reason for higher prices. The two are in no way mutually exclusive.
I’m not downvoting you for responding. I’m downvoting you for spreading commonly believed pro-corporate apologia.
Too late.