This editorial was written on the massive amounts of money that high ranking officials get paid. The editorial was written for the taxpayers who would have to pay for the sum of these expenditures. The author made the claim that the these officials get paid ridiculous amounts of money that exceed their job descriptions. Moreover they are paid a certain percentage of their salary in their pension. These executives can also increase their pension by trying to increase their ending salary by working over time and serve on boards. The taxpayers would be the ones who would take care of the pension which would be a burden by itself. But, adding on to that is the fact that the pension is adjusted for inflation. The author gathered their information from the list made by The Wall Street Journal for the twenty five CEOs paid the most in the last ten years which stated that most of them made over a two hundred and fifty million dollars over the course of a year. As bad as the economy has been over the last ten years for most Americans it does not seem fair that the executive class should live a complete opposite lifestyle. Their pensions paid by the taxpayers when they retire and while they work they live luxuriously as well. The salary of these workers is not even the biggest issue as stated in the editorial but the pension which seems to be unchangeable. Another alarming fact is that these salaries are mostly undeserved as one might expect that companies with better performances such as Apple, their CEOs would get paid more but, that is not the case. Even the CEO of companies that have been destroyed are being paid these outrageous amounts of money. The fact of the matter is that the claims made here are justifiable and have caused major problems in the economy and if it keeps up could damage it further.
No comments:
Post a Comment