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Sanders Hosts "CEOs vs. Workers" Town Hall to Take on "Extravagant" Executive Pay and Poverty Wages


#1

Sanders Hosts "CEOs vs. Workers" Town Hall to Take on "Extravagant" Executive Pay and Poverty Wages

Andrea Germanos, staff writer

Sen. Bernie Sanders (I-Vt.) is hosting a live-streamed town hall Monday evening, where he, along with low-paid employees of corporate giants, will take on "the enormous disparity between the wealth of corporate executives and the wages and treatment of the companies' workers."

The"CEOs vs. Workers forum" will stream live on Sanders' Facebook page beginning at 7pm EST.


#2

The problem is not “abusive” corporations. The problem is that as fundamental institutions of capitalism, corporations are DESIGNED to increase profits at the expense of everything else: e.g. the common good; workers’ rights; sustainability; peace and justice, etc. This is not about bad people taking advantage of a flawed system. It is about a political-economy that is for the few and against the many.


#3

CEOs ARE abusive. They write their own contracts and they know full well that their lavish lifestyles are funded by the ‘little people’ who work for their companies. It wasn’t that long ago (80’s?) that these multi-million dollar pay packages were introduced. Believe me, there were plenty of rich people then. Now there are more of ‘them’ (Obscenely rich) AND there are many, many more people who are accessing food stamps, etc because their wages don’t cover the cost of living.

Bernie gets bashed a lot on this site, but do we hear Anyone, Anywhere else that is raising the issue? His energy and willingness to take on TPTB is a huge asset to ‘we the people’.


#4

Truly astounding how poverty pimping capitalists make money on the poorest.


#5

And simultaneously there was an explosion of homelessness…


#6

When there were regulations on these capitalist companies, they appointed heads of the corporations who followed the laws and dealt fairly and honesty with employees.
NOT all of them, of course. When they were able to turn the tide back to predatory capitalism, they appointed CEO’s who would conduct business accordingly – guess that might have been the beginning of “downsizing”?


#7

“From 2008 to 2015, 100 profitable Fortune 500 companies paid zero dollars in federal income taxes in at least one profitable year. Of those, 18 paid nothing during the entire eight-year period.”

18 Corps Paying zip:
PEPCO
PG&E
WISCONSIN ENERGY
NISOURCE
INTERNATIONAL PAPER
FAST ENERGY


ATMOS ENERGY
GENERAL ELECTRIC
AMERICAN ELECTRIC POWER
RYDER SYSTME
DUKE ENERGY
NEXTERA ENERGY
EXCEL ENERGY
AMEREN
CMS ENERGY
SEMPRA ENERGY
EVERSOURCE ENERGY

Source: American Prospect - Summer Issue 2018
The Two Big Lies Behind Donald Trump’s Tax Plan


#8

For whatever reason even most so-called progressive candidates seem to fear even touching the citadel of extreme corporate power. Bastille Day just passed. Could Wall Street yet become the Bastille of our time?


#9

We should all have but one question of our oligarchy (and we are an oligarchy)
So, when’s it going to work? It’s been nearly 40 years since you you guys presented the idea that the “free market” could cure societies ills. To hear you guys during the Reagan administration all we had to do was eliminate your taxes and burdensome regulations and put our faith in capitalism and we would all benefit in the form of higher wages, better benefits, and safer working conditions. All these things would make the governments social safety net obsolete.
The problem of course is that the average American, being a fucking idiot, doesn’t understand capitalism. They believe the fallacy that capitalism creates competition, and that competition will create those better jobs and benefits for all, without realizing of course that capitalism is designed not to create competition, but to ELIMINATE it.


#10

Everything you wrote is a fallacy. CEO’s don’t write their own salaries. They’re employees. They’re accountable to the board of directors and shareholders. They have the greatest responsibility and expectations of every employee in the entire company, whether the company is 10 people or 10,000 people. They are the first person people look to when the company is failing or growing below projections. They work the longest hours of everyone. They make make major life sacrifices by choosing to take on the exorbitant responsibility of the job and take the high salaries many receive but at the price of never seeing their family. You think Steve Jobs and Bill Gates just sat around on their expensive couches at home and watched the money flow in? Uhh, no. They presumably worked 80-100 hours every week for decades.


#11

I’ll gladly take your challenge and point you to reality which shows that do to the advent of markets, we have seen globally abject poverty slashed over the last 30-50 years. We can go back to communism in the eastern Bloc. Millions of people would be coming at you with pitchforks if you proposed that in their countries. Which country is doing better these days? North or South Korea. Which had more growth and prosperity? East or West Germany?


#12

I am not sure that is has anything to do with Capitalism per se. Reading Dickens and the Workhouse, Oliver Twist and the London Poor… so much is still the same and this is prior to rise of corporations…

So much wealth is concentrated in the hands of a few and they continue to enrich themselves… It is TIME TO RESTORE the EISENHOWER/REAGAN tax rates and even a wealth tax for education… No other industrialized country is using the regressive property tax to fund education… This real estate property tax needs to be replaced with a FIRE tax so that the financial property is taxed…


#13

I remember hearing consultants on CSPAN back in the 1980s say that if income taxes were raised, then the CEOs would just have their incomes raised to conpensate for that … However on the flip side when tax rates were cut, did anyone anyone anyone see a dime cut in the CEO compensation…NOT at all…NOT ever…


#14

Good. Then you should be for all the generous social programs, healthcare for all, and worker, consumer, and environmental protections that Germany and South Korea (or Norway or France) have that, in the name of “free markets”, we don’t have here in the USA.


#15

No. In contrast, countries like Sweden have begun to move away from those programs after years of stagnation. Sweden built up its wealth before those programs and has slowly been eating away at itself after becoming more of a social democracy. It’s finally beginning to figure things out. Whereas the rest of Europe is heading towards bankruptcy.

Socialism works (albeit inefficiently) until you ru out of other people’s money.


#16

Hey, I will listen to what ever Bernie has to say, but cant get my hopes up like the last time. All of it went POOF!


#17

Actually, twenty years before our crash Sweden had its own financial crisis brought on by: inflated real estate market, loose credit and financial deregulation. For years their economy suffered from high inflation, low real wage growth, and unsustainable public debt (sound familiar). How did they recover? In 1992 they acted swiftly and with political consensus to nationalize their banks. By the way, the Nordic countries define themselves as a social democracy not socialists. They are capitalists, but they use their tax structure to ensure the economic and social security of its citizens.

And in that social democracy, there is actually a surprising amount of wealth inequality. But the disparity there is not so alarming according to Credit Suisse: “Strong social security programs, good public pensions, free higher education or generous student loans, unemployment and health insurance can greatly reduce the need for personal financial assets. Public housing programs can do the same for real assets. This is one explanation for the high level of wealth inequality we identify in Denmark, Norway and Sweden: the top groups continue to accumulate for business and investment purposes, while the middle and lower classes have no pressing need for personal saving.”


#18

But let’s be honest. You all don’t even support mixed economies. You support true socialism. And this is what results from true socialism:


#19

Don’t know who this “you all” is to whom you refer. And to this black woman that term is too uncomfortably like “you people”.

You are mistaken in in your assumption that I don’t support mixed economies. I have actually spent time in both Norway and Denmark. My point in the post was that there is a way for those who need to fulfill themselves through the pursuit of wealth to do so without sacrificing the well being of their fellow citizens who may have other paths to fulfillment.

As for Venezuela, like us, there are a myriad of reasons for the country’s chaos. U.S. intervention certainly played its role, and “our leaders” are considering doing it again. History continues to teach us that no political or economical construct can succeed if it suppresses the will of the people. And the will of the people can only succeed if they are an informed and engaged citizenry.


#20

It is too bad Bernie couldn’t have been elected president in 2016. Polls in 2016 demonstrated that Bernie could have run as a Democrat against Trump in 2016 and won. He is speaking out for us peasant class in America while corporate executive pigs rake in billions of dollars in profits.

What are we going to do in the 2020 elections? Repeat basically of 2016 and a second term of Trump, one of the very worst presidents in our entire history. Trump and his cabinet are the richest ever president and cabinet and they can ranked down there as among the very worst presidents and cabinets in our entire history.