Home2020 Elections10/1 Rocktober Begins…and With Some News for Justice; Sanders to Air First TV ads in Iowa; Afternoon/Evening OT

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“Good for Sanders” in WaPo


Last week, the Census Bureau released figures showing income inequality in the United States is at its highest recorded level in 50 years. Sen. Bernie Sanders (I-Vt.) has a plan to fix that. On Monday, Sanders debuted a proposal tackling CEO pay. His plan would impose a tax on companies with at least $100 million in annual revenue where the chief executive earns more than 50 times the wage of the median employee. “It is time to send a message to corporate America: If you do not end your greed and corruption, we will end it for you,” he said in a statement.

Good for Sanders! In 2018, the average S&P 500 CEO earned 287 times more than their median employee, according to an analysis by the AFL-CIO. According to yet another analysis, this one by the consultancy Equilar and the Associated Press, the typical worker would need to put in more than 150 years on the job before they brought home what their company’s CEO did in one year. Not surprisingly, Americans — after decades of stagnant wages — are furious. The staggering CEO-to-worker pay gap has played a role in everything from the Fight for $15 movement to the current GM strike. Yet there is no justification for their giant pays days — from either a bottom line or moral perspective.

The business case for outrageous CEO pay does not exist. Shareholders get better returns from companies where the CEO is underpaid relative to peers than from companies that are more generous toward their chief executive. And when company employees believe their CEO is overpaid and they are underpaid, employee turnover increases, and corporate performance suffers.

One expert told The Post he believed the current Sanders proposal, if enacted, it would force some companies to hire less-than-qualified CEOs going forward. That’s balderdash. First, European and Japanese companies pay their heads significantly less than do American firms. There’s no evidence they’ve experienced a recruitment problem. Second, the higher CEO pay in the United States has not prevented bad management. It’s done the opposite: Just look at Wells Fargo, where executives enacted and promoted a hard charging sales quota that ultimately led bank staff to set up millions of fake accounts for its own customers.

If anything, shareholders and boards of directors alike should celebrate Sanders’s effort, not condemn it. He’s offering American companies a graceful way out of a dilemma, giving them a ready-made excuse they can offer the next time an avaricious CEO demands an even greater (undeserved) compensation package. If anything, the socialist’s plan will not just fight inequality but help capitalist corporations to improve their bottom lines. The irony is delicious.



Sen. Cory Booker raised more than $6 million in the third quarter, his presidential campaign said Tuesday, buoyed by a surge of more than 46,000 donations totaling $2.1 million in the final 10 days of September.

It’s Booker’s best quarterly fundraising total to date, and he raised more money in September than any other month this year. But Booker’s fundraising is still lagging far behind the leaders in the 2020 Democratic presidential primary. Sen. Bernie Sanders announced earlier Tuesday that he raised more than $25 million in the third quarter, while South Bend, Ind., Mayor Pete Buttigieg raised $19.1 million.


I was amazed that Guyger tried to use the castle doctrine defense.

But I’ve been reading that the fact the judge ruled that the jury could consider it may help to avoid the decision from being overturned, so that’s good.



Thought of you when I saw this! Grrrrrr





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