While Bernie makes a million for his efforts, the average senate legislative assistant earns about $35,000 which ain’t much if you work in DC. [by the way I have no problem with what Sanders earns, he worked for it, mostly from books]
Old naive Bernie is still at it. This time hammering at CEO pay and misleading and or misunderstanding the issue as usual.
When most people hear the words “he made” they think of salary, cash pay that people receive in a year regardless of performance or results. But that’s not what CEO pay is. (🤑)
Most CEOs receive a minority of their compensation in cash. The balance is at risk and varies based on personal and corporate performance and the value ultimately is determined by the price of the company’s stock.
While Sanders and others point to CEO pay as a cause of inequality, nary a word is spoken about the outrageous pay of celebrities and sports stars who create very little in the way of jobs or contributions to a better society, but instead draw their incomes directly from purchases made by average Americans. In addition, unlike most CEO compensation, their pay is often guaranteed regardless of their performance or the success of their projects.
The term sheet calls for Mr. Johnson to be paid $22 million and 30% of the movie’s profits or box-office bonuses at key benchmarks—whichever number is higher. If the film is a blockbuster like “Jumanji,” which has grossed $922 million world-wide, that could add tens of millions to his paycheck. The Rock, Red Notice, WSJ 3-9-18
Make no mistake; some CEOs are overpaid and they are not adequately held accountable for performance, but that’s a problem for the Board of Directors and the company’s shareholders, not politicians or government. And hey Bernie, cut CEO pay and you lower federal revenues 🤑
(🤑) The very use of “CEO” is misleading because what is really being referred to are CEOs of the few largest corporations in America that employ a small percentage of (156,000,000) US workers. Average total CEO pay is quite modest.