Friday, December 16, 2011

Today's Quote

It's actually a few days old:
Chief executive pay has roared back after two years of stagnation and decline. America's top bosses enjoyed pay hikes of between 27 and 40% last year, according to the largest survey of US CEO pay. The dramatic bounceback comes as the latest government figures show wages for the majority of Americans are failing to keep up with inflation.
America's highest paid executive took home more than $145.2m, and as stock prices recovered across the board, the median value of bosses' profits on stock options rose 70% in 2010, from $950,400 to $1.3m. The news comes against the backdrop of an Occupy Wall Street movement that has focused Washington's attention on the pay packages of America's highest paid.
This is probably because those CEOs are the only Americans willing to work very very hard. Or perhaps they are such rare geniuses that they can command any price they wish in that mythical free market for executive talents?

What other wingnut explanations could one find? That these are the job-providers and deserve to be paid for it, whether jobs are forthcoming or not?