New Capitalism

With all of the job cuts being announced right before the holidays, I was wondering if it might be time for a new capitalism. Here’s a rhetorical question, what if the board lowered their salaries and the CEO’s salary instead of firing people? A typical CEO for these big companies like Delta makes a few million. He or she doesn’t need millions – no one does! Somewhere around $50k can allow someone to survive in the US. $100k is very comfortable depending on the housing market. Certainly, $500k could be enough to live VERY well, even in New York. Let’s say they are firing white collar workers who each make $50k. If the CEO were to lower his salary by just $500k, he could save 100 jobs! If we’re talking about people who make less money, even more jobs could be saved! So why can’t they do this? Well, obviously, no one would ever lower their own salary. But why isn’t there much of a public outcry? People are losing their jobs right before Christmas and these CEOs are flying around in private jets. I know we have even more ridiculous things like basketball players making millions, but I would assume that people would say stuff. For the first time today, I heard them say something on CNN this morning. Of course, it was 6 AM and no one was listening – it wasn’t repeated all day like their typical stories. I know it’s a bunch of BS, but I had to get this off my chest – it’s really been bothering me.

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