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April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review April 5, 2011 / 30 Adar II, 5771

Spreading Wealth the Right Way

By Cal Thomas




http://www.JewishWorldReview.com | During the 2008 presidential campaign when candidate Barack Obama told "Joe the Plumber" that he wanted to "spread the wealth around," it sounded to a lot of conservatives like socialism: "From each according to his ability, to each according to his need," in the words of Karl Marx.

There is a kind of wealth spreading, however, that ought to meet the political litmus test of conservative Republicans, liberal Democrats and radical Independents. At a time of high unemployment, too many layoffs and too few new jobs in the private sector (230,000 jobs were created last month, according to the Labor Department, but unemployment continues to officially hover at just under 9 percent and Gallup calculates it, without seasonal adjustment, at 10.0 percent), it is disheartening to see so many CEOs having recovered enough from their personal recession to pay themselves salaries and benefits that would have shamed the super-rich in America's Gilded Age.

USA Today reported last week in a story on CEO compensation that "three-quarters of CEOs got raises -- and, in many cases, the increases were substantial." Employee pay, on the other hand, effectively stalled. Median CEO pay, reported the newspaper, increased 27 percent last year, meaning the average CEO received $9 million in 2010. Even in a struggling economy, I wager most people could get by on $9 million a year. In a strange twist, General Electric, whose chairman Jeffrey Immelt now advises President Obama on job creation, paid no taxes last year, despite earning $14 billion. But that's another column.

Unlike my liberal friends, I don't obsess about how much money other people make. Whatever compensation someone can negotiate is fine with me. Whether a person is "worth" their pay is a subjective matter and open to debate.



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The moral issue in executive pay is whether management deserves these high salaries while employees are laid off, or denied pay increases.

Last April the Baltimore Sun reported that Stanley-Black and Decker in Towson, Md., announced plans to lay off 4,000 of its 38,000 employees. Yet, according to USA Today, Stanley-Black & Decker CEO John Lundgren made more than $32 million in 2010, up 253.1 percent from the previous year.

U.S. Bancorp Chairman Richard Davis was paid $16.1 million in 2010, a 143.0 percent compensation boost. In January, U.S. Bancorp announced that 64 workers in its Milwaukee office would be cut.

If I were a CEO being paid such astronomical amounts and people were being laid off, or struggling in a recession, at least in part due to the lack of pay increases, I would feel morally obligated to take less money. I would ask the chief financial officer of my company to share some of my wealth with loyal employees so that they could continue caring for their families.

One doesn't have to be a liberal who believes in income redistribution to see the unfairness in disproportionate pay. Think of the kudos and favorable press coverage that would come to a corporate chief who shared his wealth, rather than lay off employees. It could change not only the media coverage of big business, but also the way the public perceives the super rich. Heck, some of them might even start voting Republican!

Five CEOs saw a slight decline in compensation, according to the USA Today/GovernanceMetrics international data, but they still earned more than most lottery winners receive.

President Obama has spoken of some of these CEOs as not "needing" the money they get. Again, that is a subjective judgment. What he should be doing is shaming those companies that lay off workers while paying their top management such exorbitant salaries and benefits. Stockholders ought to demand that no competent worker should be laid off if a CEO earns above a certain amount of money. Stockholders also have a moral responsibility beyond the dividends they receive.

Making money is a noble American objective, making a living is a nobler one. Corporations ought to have enough decency and compassion to make sure no worker is let go solely to increase the bottom line or pad the boss's pockets with more money than he (or she) can ever hope to spend in a lifetime.


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Cal Thomas Archives

JWR contributor Cal Thomas is co-author with Bob Beckel, a liberal Democratic Party strategist, of "Common Ground: How to Stop the Partisan War That is Destroying America". Comment by clicking here.

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