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The Silent Redistribution of Wealth in America

Anonymous Coward
User ID: 1447155
United States
10/07/2011 05:13 PM
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The Silent Redistribution of Wealth in America
The silent redistribution of wealth in America, as seen by me, an American by Birth, and Red Bearded by the grace of God.

A CEO lays off a large amount of staff (More often the bulk of are low paid worker bees).
Those that remain must do their part and the work of those who were laid off.
Then the CEO adds in pay cut as well.

Imagine that, the company is now making newly found profits, who gets it?

New profits for company do not go to bringing back those laid off or worker bees still there.
The CEO, Directors, and other big wigs receive the redistributed wealth that used to be the pay to the poorer worker bees, in the form of performance bonuses. “Job well done slave drivers!”

Who else gets the money for the hard work of others? Wealthy shareholders who have enough money to invest, they too get the redistributed wealth in dividends. (Unlike the less fortunate who live check to check and don’t have cash to invest in stocks.) Now I realize many of us have stocks and we make a few bucks, but who really sees the profit? I believe it to be those who abuse their position of power and live off the sweat and hard work of others.

Want an example? In 2008-10 a company that well, we’ll call it “Happy People” (HP for short), did exactly that.
The pay was cut right after layoffs. 5% pay but to general staff, 10% for the directors, 15% for the board and 20% to for the CEO.

General staff sucked it up for 2 years without pay raises, although after a year, they were rewarded with their missing pay in the form of a onetime bonus. A bonus that gave back the pay that was taken from them, when they should have seen a raise. Meanwhile… Directors and other big wigs got all that back and a whole lot more. (Games were played matching 401K plans as well but I’m too tired to bark up that tree.)

The CEO who’s trade MARK was a big TURD on his people, was caught in a questionable relationship with a former porn star... Well he had to suffer the consequences for breaking Happy People’s ethics. And so he left with over a 35 million dollar plus severance package.

Why are the rich getting richer and the poor getting poorer? See the 1 example of greed above; one of many.

Should the Rich have their money redistributed just because they make more? No.
However, when they wrongfully take it via abuse of power and redistribute to themselves while lowering the quality of life for others and making them work even harder for less. It is just returning what they wrongfully took.

And that is my thought for the day.