In my estimation we have gone from a reasonably fair and successful capitalistic economic system to one that’s gone bonkers. An individual that, through hard work and smart thinking, could produce something that would be successful in the market place and create income for him and those he chose to help him. Even after he “incorporated” the constantly increasing income would be distributed fairly to those that had invested in his efforts and those that helped maintain it. That algorithm doesn’t work anymore. Today we have a misdistribution of wealth. The poor get poorer and the rich get richer. Too many cannot find work with adequate pay and others work for wages that are inadequate.
Corporate executives are grossly overpaid. The board members of their companies are made of others just like them and see to it they get ever increasing salaries and bonuses of corporate stock that can be sold at inflated prices. Their shareholders don’t care as long as the company makes sufficient profit while keeping expenses, which includes the pay for their workers and the workers benefits as low as possible.
And then there are those who make unbelievably huge salaries for having produced nothing – except entertainment. Millions of dollars are paid to people who may be able to throw a ball but can hardly speak decent English. And, unfortunately, the costs to go watch them throw the ball have risen to levels that only those previously referred to executives can afford. The poor working slob can watch on T.V. if he can afford the cable company’s rapidly rising costs. It’s a sad U.S. of A.