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Income minimums and caps today seem innocuous enough; we’ve had a minimum wage law for years, and the salaries and bonuses of corporate big shots always appear to be way out of line, especially when compared to the income of the average corporate worker. So how can any argument opposed to them be valid, moral and practical?
Well, a free market is either free, or it is not. A free market is a private market; that is, it is not subject to government intervention. Otherwise, if it is a government market, as opposed to a private market, then it is not a free market. It is a government controlled market, to the degree that the government controls any part of it. A free market operates independently of government, as do the people who have the liberty required to participate in it. It is the most important sphere of private human activity that operates outside the reach of government and impervious to government control of it. The only legitimate (i.e., Constitutional) government controls affecting the free market place are those laws and regulations that enforce contract law, limit monopoly and so forth, in order to keep it free.
Just as the natural laws of supply and demand set the price for products and services produced in the free market, the same laws of supply and demand set the income levels of various workers who produce the goods and services for sale in the free market place. I submit that a Lee Iacocca is indeed worth more pay than I was worth as an assembly line worker at the old GM Fleetwood plant on Fort street in Detroit when I got out of the army. Or any other typical hourly worker.
For one thing, there were quite a few more like me than like him available on the job market at that time. Hundreds of thousands more, perhaps even millions.
The notion that pay and bonuses of big shots like Lee Iacocca and perhaps the next lower three to ten tiers of management detract from corporate profits is nothing but a boatload of poo-poo. These people add, enormously, to corporate profits. How many are there out there in the job market that can compare to the likes of Iacocca? How many are there who can turn a corporation around, and change it from a loser to a winner? Damned few, that’s how many, and they don’t come cheap, because there is a strong market for that kind of talent. The private market already knows that; government does not. Government is not smart enough to know that. Corporations compete for that kind of unique talent. People who solve big, major problems, who take on extreme challenges, turn red ink into black ink, and who regularly meet really big payrolls do not come cheap.
Sometimes, like us lower mortals, they screw up or make less than good major decisions. The Edsel model is a good example. But then, more than making up for it, everybody recognizes that the Mustang was a marketing concept that hit the corporate economic ball completely out of the park. How much does that sort of thing bring to a corporation profit, to corporate expansion, to increasing jobs, to growing the economy? It’s almost incalculable.
To think that you can get that same sort of passion, commitment and performance from talented people who spent a major part of their lives immersed in the education and training to get themselves to this point, with some sort of fixed amount of compensation comparable to hourly workers is just ridiculous. People don’t become engineers or MBAs and work their way up for twenty years or more just to make a “comparable wage.” Go to Cuba if you want to do that; America is the place of dreams; the place where you can truly be whatever you want to be and make of yourself whatever you are determined enough to make of yourself.Our American Marxists who are currently running the House, the Senate, the White House and the SLIMC1 may be counted upon to regularly demonize executive pay and bonuses in their ongoing effort to increase class envy, and to demonize even wealth itself in the eyes of the overall populace. They are out to kill the free market and bring us into a typical Socialist dictatorship; that is their real but hidden agenda.
Consider this: if you paid for your kid to go to college and get a better education, did you expect and hope that your kid might thereby make more money as a result?
Would you have spent the money to send your kid to college if the only hope for your kid’s future was pay comparable to everyone else’s pay, and should your kid have gone through the difficulty of all that study for no greater financial reward?
At the other end of the spectrum we are stuck with an annually increasing minimum wage law that produces nothing but increased unemployment among the poorest and least qualified workers in America. That’s about all it produces. I believe unemployment of the poorest among us is the purpose for the law; it’s just too obvious to have any other true reason for being. The purpose is to increase discontent among the poor, and sympathy for them among the middle class. Again, this is stoking class envy, wealth envy, and social guilt.
The existence of a vast market for lower wage workers in America is born out by the huge illegal workforce currently working “under the table” in the orchards, vineyards and fields of America. Many if not most of the workers are here illegally – they came here to work jobs that pay less than the minimum wage. There are millions and millions of them. Their very presence here proves that there is a giant market for less than minimum wage workers in America. The market will be satisfied.
Eliminating the minimum wage would bring these people out from hiding – at least the ones who are here legally. It would also go far to eliminate or at least minimize the mistreatment and exploitation of these workers by unscrupulous and even criminal employers, and open up the job marketplace so that legitimate employers could compete with each other for good workers. Lower wage workers are definitely in demand, or there wouldn’t be so many of them already here and working.
Marxists claim that the illegal aliens who get jobs here are “only doing jobs Americans would not do.” I don’t believe it. Americans are doing these jobs; however, they are doing them illegally, because they are breaking the minimum wage laws, and so they are working under the table. If it were not against any law, plenty of other Americans would be willing to do the same work. Preferably, they would do the work above the table, where everyone could see what was going on.
I previously said, in Kill the Illegal Alien Market Place, among other pages, that it would be relatively easy to get our current illegal alien population to leave us, on their own. At least, those of them who are not here under the auspices of organized crime families or gangsters. The workers among them. (That was before I had studied the Fair Tax -- I now concede that my national sales tax is less thought-out and researched than the Fair Tax, which should be implemented.) Getting rid of the minimum wage, instituting Fair Tax, prosecuting and shutting down illegal alien employers would do the trick. Americans and legal aliens could then compete for legal jobs at the lower end just as CEOs do at the upper end of our economy.
Bottom line, the government needs to get out of the free market’s way and let it operate. In describing the Rule Of Subsidiarity we described the American principle of the lowest jurisdiction possible handling problems, not the highest, and we described a private sphere of activity completely beyond the scope and reach of government. This rule is almost a definition of proper liberty of man in a moral culture.
Today, we have a President, Obama, who dares to hire and fire CEOs of private corporations; and who dares to oversee and direct bankruptcy reorganizations in the place of the court; and who previously publicly lied about billions of our dollars in a bail-out that specifically would prevent his pre-planned and orchestrated bankruptcy reorganization, and this is just the beginning.
How? By what authority? Has he already become supreme dictator?
The other two so-called co-equal branches of government, meanwhile, sit on their hands and do nothing.
And yet, the American principle remains, in spite of Obama’s travesties against the free market and liberty. Corporate executive pay and bonuses are what they are because the free market demands it, and free market competition establishes it. And it’s the same with all wages for work, including the lowest ranking ones. There is no dishonor in honest work, and there is no dishonor in accepting one’s pay, even when the Marxists don’t like it, and this remains true no matter how much they politicize and publicly demonize it.
Truth has a life of its own.
Pray for America.
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Date: Thu May 07 06:11:28 2009
From: Vic Biorseth
Just saw another reporter going bananas over another “executive party” thrown, this time, by GM, for their best fleet customers at a cost of umpty-ump kazillion dollars (O.K., I don’t remember how much they spent.) The upshot was that after receiving billions of our tax dollars in bail out funds they had the unmitigated gall to throw a huge party at another posh resort, presumably using our money to do it.
The breathless and obviously angry journalist was negatively reporting this story on the Fox News Network, showing that even the best in journalism today is infected with the super simplistic wealth-envy and class-envy that bloomed from Marxist seeds sown long ago, and well tended over the years since. Nevertheless, journalists are not businessmen, they don’t have to meet any payrolls or handle any business crisis situations, and, basically, in the business arena, they usually don’t really know what they're talking about. The fundamental business point journalists (and Marxists) miss, or miss-represent, is that it takes money to make money.
I know that in at least one such incident from the past the story ravaged executives for an annual party at an expensive resort that was not even thrown for executives, but for sales staff, who had met or exceeded quotas during the past business period. An annual event. For the un-initiated or less-informed, the sales staff is the only part of the corporation that actually brings in revenue; everyone else in the company only spends it. Workers can make product, but if it doesn’t get sold, workers will soon be out of a job. Only sales produce any company income. Period. Without sales the business dies.
I never heard any corrections to the story or any apology to the executives regarding raking them over the coals for honoring their best salesmen and their families, so I’m assuming none was ever made.
Now the latest brouhaha involves a similar party at a similar resort at a similar expense, this time for the best customers of GM, who account for upwards of a quarter of all corporate sales dollars on an annual basis. We’re talking fleet sales here; people and companies who buy whole fleets of cars and trucks and vans at a time. It bears repeating: It takes money to make money. This is a sales event. A chance to show top customers new products, and, yes, to entertain them and their families. That’s what sales are all about.
So, the only conclusion we can draw from the negative rush to judgment against horrid GM for this further wanton economic travesty is that they are expected to stop selling.
Yeah, right; that ought to solve the problems.
Date: Sun Oct 09 11:05:41 2011
What do you think of "Occupy the Wall Street" movement that seems to be gathering momentum? Do you think this might end up being the liberal version of the tea party?
Date: Mon Oct 10 05:49:47 2011
From: Vic Biorseth
No, not even close.
Occupy Wall Street is a Communist funded and Communist organized “event” for the objects of community organization and purposeful educational indoctrination. I’m sure the funders and organizers – George Soros, Comrade Obama, etc. – would prefer to be called Progressives rather than Communist, but as a simple matter of fact progressives are Communists.
Most of the pitifully few (in comparison with Tea Party events) out demonstrating cannot put together a coherent sentence, let alone explain in detail what they are demonstrating about. They don’t even know what they are doing there. The ones who are not being paid are just doing what their teachers or professors told them to do.
Union thugs are now joining them and upping the violence ante, and I’m sure there are real revolutionaries and real anarchists in among them all. But the important thing is that, while this is yet another attempt at actual violent revolution, ala 1968, it too will fail for lack of popular support.
You can’t have a popular revolution without popular support. That’s why all the “revolutions” of 1848 failed; see the Refuting Marx page.The real Tea Party members are staying out of it, staying home, and letting the kiddies and the Commies burn themselves out trying to start trouble with the local police. They will eventually lose, despite the best efforts and the support of our thoroughly Marxist Democrat Party, our thoroughly Marxist SLIMC1 , our thoroughly Marxist education system, our thoroughly Marxist President, and the funding of the thoroughly Marxist George Soros.
Thursday, January 17,
Converted Page to SBI! Release 3.0 BB 2.0.
Date: Sun Nov 09 2014
From: Vic Biorseth
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The Anti Capitalism Pages
The Free Market, i.e., Capitalism, is a natural economic system obeying the natural economic laws of supply and demand. Marxism - an unnatural, human-engineered economic and political system of man - uses it as a target to demonize, establishing it's bogus bourgeois and proletariat "classes" in the minds of men to foment disharmony, chaos and revolution, for the purpose of eventually assuming dictatorial power.
All the anti Capitalist lies in Marxist propaganda. Most old Marxist anti-Capitalist lies are now common "academic truths" in formal education and news reporting.
Definition of Capitalism: Economic Organization based on Private Property. Any true definition of Capitalism must state that it is purely an Economic system, not a Government system, and it works most efficiently and profitably under Representative Government.
Do detractors even know what Trickle Down economic theory is? Those who condemn Trickle Down economic theory either don't understand it, or they are trying to fool someone.
The Class Warfare Lies of "Social Justice" infecting theology and philosophy. Most every time Social Justice is invoked, you are about to hear some Class Warfare Lies.
Of all the dumb-assed ideas in the world, the dumbest is The Equality Stupidity. The Equality Stupidity takes the prize for the most imbecilic of all ideologies.
What does income inequality, or any inequality, have to do with morality? When did we become so stupid? Income inequality, wealth gaps, etc., are not moral issues
We argue against income minimums and caps, and for a free and private market. Income minimums and caps are Marxism’s “moral” bait to gain popular support for Socialism on the path to typical Marxist absolute dictatorship.
Property = Wealth = A Penny Saved = A Fundamental Human Civil Right. Wealth Redistribution = confiscating private property from those who earned it to benefit those who did not earn it.
On the lost human virtue of Industry. From Industry to Indolence: how the most industrious nation in history has slipped into almost pure sloth.
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Hope, from the Easter series on the Three Theological Virtues. The virtue of Hope; One of the Seven Heavenly Virtues.
Love, from the Easter series on the Three Theological Virtues. The virtue of Love; One of the Seven Heavenly Virtues.
Prudence, from the Lenten series on the Four Cardinal Virtues. The virtue of Prudence; One of the Seven Heavenly Virtues.
Justice, from the Lenten series on the Four Cardinal Virtues. The virtue of Justice; One of the Seven Heavenly Virtues.
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