Many wealthy take the position that I invented this product or created this factory using my talent or my money therefore I should reap as much reward as possible for as long as possible. Is there a time limit or a reward unit that should cut off this way of thinking and give credit to the [people who make the product and are loyal to the company?
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Feel free to reply to any comment by clicking the "Reply" button.It seems that all you need to live out the rest of your life in comfort is about 7 million dollars, the rest is all ostentatious spending. I don’t see why rewards should be higher than that, it just feeds people’s greed and creates tycoons, dynasties, inherited wealth and all that.
Denker
Level 7
Feb 5, 2019
0
They should be rewarded with whatever profit is left when all their workers make a living wage.
MLinoge
Level 7
Jan 28, 2019
1
A living wage means living from pay check to pay check. They must take part in the profit of the company in order to grow into the middle class and many employers will pay the least amt. they are able to get away with.
@MLinoge This is the problem: the Middle Class is one of those moving targets. Who knows what it means today or next year.
Not all companies are run like slave labor camps. In fact, I think very few are. Many of them pay fair wages based on the level of value the employee provides to the company, and that's fine. Some companies operate under a different model; one where there is a pay-for-performance component that rewards the employee over and above their regular salary for superior performance/productivity. UPS does this on a time-basis to reward drivers who complete their routes early. There are other ways of doing this too. I think this is the best and fairest way to handle things. The suggestion above doesn't really work, IMO. Ownership means something. Also, the enormous effort required to build a successful business and the risk (all being taken by the owner, not the employee) isn't taken into account at all and in mainstream media articles that talk about this (in the context of "income inequality" ) is completely disregarded. I realize there are CEOs who were voted in/appointed and did not do the value creation and that is a different issue. The creator of a successful business is the one that makes it possible for anyone else to have a job. He or she has done the nitty-gritty work of making it successful enough that he can provide work for others. That should never be forgotten.
IAMGROOT
Level 7
Jan 20, 2019
1
There are those companies with a heart and social bearing however I worked for three major corporations and a variety of other businesses that did not fall into the latter condition. It amazes me that when I worked for these companies I thought they were so secure that they would never go out of business. One is gone the second is in bankruptcy and the third is selling various departments to reduce their cash outflow..
@Marine I co-own a small business. It's tiny. My ex and I incorporated it in 2000. We sell some items online, mostly through Amazon and Ebay and have also used other online comparison engines as well as our own site. We have 2 p/t employees and one of them serves as our office manager. She earns more from the business than either of us does (we draw a combined salary of $2K/Mo from the business). Our other part-timer is earning around $12HR for pretty easy work. We value our people and I feel they are very fairly compensated for their effort. I have held various positions in the private sector. Most recently, I had an 8 year career working in IT at Intel Corp, arguably one of the most stable companies in existence generating billions in revenue each quarter. Working in IT, however, is a losing proposition unless you are in the project mgt area or managing some aspect of it because their mission is to do more with less, automate wherever possible. That said, I spent more than half of my career there trying to stay ahead of the layoff tsunami as they outsourced all of their tech support to Costa Rica. It finally caught up with me and I was laid off in January of 2008. This has shown me that in the US, there is zero corporate loyalty to employees. We truly were nothing more than a "human resource" (and that is a term I despise). Interestingly, I had Intel colleagues on virtual teams working overseas in Ireland and Israel who had been working in the same relative position for 20+ years. This is why I said "In the US." So, I do fully understand and appreciate why people are so down on what is served up as Capitalism, but that is still the only way to raise the aggregate standard of living for everyone and if done in a fully free-market way, without government interference, I believe it will continue to drive human progress. Sorry for the rant. LOL!
The patent office has set the limit to 17 years. That seems reasonable enough if we could only get the Chinese to honor our patents.
BD66
Level 8
Jan 20, 2019
2
The chinese want their Rice back!!!!!
I do not think there is any point in the future that should change things rather it should be from the first day of operations that the worker shares in the product being made and sold. Without his labor it remains just an idea and produces nothing. The reward for the product belongs not only to the one that thinks of it but also to the one who makes it and the reward should be fair. It is fine to become a multi millionaire but it should not be on the backs of workers not given fair wages.
Marine
Level 8
Jan 20, 2019
3
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