According to Forbes magazine, the average pay of a senior executive in 1980 was 40 times the average workers salary. In 2007 is was 433 times. Want to guess why things got so screwed up? Yeah, I didn’t think it was so difficult to figure out. Greed.
Instead of capping the salaries of the fat cats in the banking industry and on Wall Street, I have a better plan. Make them recite and follow the Rotary 4 way test of the things we think say or do.
Is it the truth. (boy this one should make as big a change as any to the corporate culture).
Is it fair to all concerned (a little bit of careing for all the people in the world would make our planet a nicer place to live in).
Will it build good will and better friendships (this might have slowed down Bernie Maddoff)
Is it beneficial to all concerned. (wouldn’t that be great).
I have run my businesses with these four principles in mind. I go to sleep each night knowing that I am running an ethical and honest company and that in the long run I will make a positive impact on the world. If maybe, just maybe our government and all business would apply this 77 year old ideal to what they do, we’d have no budget deficits, our economy would be far stronger and our environment would be a lot cleaner.
To read more about how the 4-way test was developed, click on the link and read about why Herbert J. Taylor wrote this brilliant manifesto.
Aside from former Senator Lindsey Graham’s opinion that we should stop whining and that things are OK, today’s economic environment is tough, no doubt about it. There are a lot of good things that hopefully will come out of it though. The first is that we, as a society get away from the greed driven mindset that drove us into this economic dilemma in the first place. Secondly, maybe, just maybe we won’t devour our world’s resources in order to one up our neighbors. Maybe this will turn out to be a reprieve for our planet.
The last one is the most important. No matter how bad you think you have it, there are literally millions (maybe billions) of people who have it worse. Also, things will get better if you work at it and change your perspective as to what is important in your life.
In 1981, when Ronald Reagan came to office I was concerned that his economic policies that he was proposing were insane. They made no sense to me as an economics major. Trickle down economics, his theory that giving tax breaks to the rich would trickle down to the middle class and make the economy boom was implausible. It was, in my opinion, one of the most bizarre and illogical ideas I ever heard and even George Bush Sr agreed. Heck he even called it voodoo economics. But heck, I was just a 23 year old and too young to understand things. Or was I?
This week we barely missed going into the Great Depression part two. It was inevitable. What bothers me is that all of the billionaires and millionaires who have made so much money got bailed out and now we, the taxpayers, the hard working individuals and families have to pay for all the losses. Do the rich people who basically stole my money and your money have to pay?Hell no. Now they put up a candidate who not only doesn’t want to pay more taxes, he wants more tax breaks for the wealthy. How much more do they want to steal from us now?
The rich have gotten richer in the past 30 years and the middle class has been squeezed and the poor have gotten nothing and been swelling over the years. On September 16th with the takeovers of AIG, trickle down and the nonsense of the past 30 years have come to an end.
Funny to hear John McCain talking about increasing regulation of the financial markets when his party spent the past three decades espousing deregulation and his chairmanship of commerce commitees were at the forefront of the deregulation movement. What a hypocritical position. While my blog is not intended to be a political blog, I am sitting here in my living room looking at my children wondering how the hell they are going to pay for this mess. I don’t know, do you?
I urge my readers to vote for Barack Obama and end the decades of the same bad economic policies that have put us on the brink of disaster. He may not be the perfect candidate, who is, but he does represent a change we really need badly or all of the sacrifices our ancestors made for this country go for naught.
Before you become jubilant because you are about to get what the President and Congress claim is a rebate understand that it is nothing of the sort. What the money is really is an advance from the 2008 tax year (the return you file in 2009). Bottom line is that they are giving you your own money back! What a sham.
It is a smoke screen, a scam, a big fat lie. Give us $600 now and take it back next year. Imagine all the hardships that will occur next year when people who are expecting a refund on their taxes won’t get it. It is a shell game economically that will not help our country but hurt it in the long run. But then again, politicians don’t care about our future, they care about the election this year. Shame on Washington D.C. for scamming the American public yet again and shame on the media for not making this issue clearer.