Dividends and cap gains r taxed much less too
People who obsess over CEO salaries but never mention dividends or capital gains, which are often thousands of times larger, play into the idea that rich people make money the same way we do: from labor. But they don't, they make it from our labor.
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As any good economist knows, there are excellent reasons for this. You see, if rich people got less of a return on their effortless, passive generation of money, they wouldn't be as inclined to exploit workers and the economy would periodically collapse. Oh wait.
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And people who don't pay attention to the implication of CEOs getting $20-$30 million for the rest of the wage distribution (as opposed to $2-3 million) are not serious about addressing inequality.
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Also like how Amazon was able to come out ahead even after raising everybody's wages (in US) to $15/hr by removing all stock options, esp from Whole Foods employees.
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We have to debunk this "common sense" that suggests that people can get rich through wage labour. It fortifies the "pull yourself up by your boot straps" lie. Labour is the source of capital's accumulation because it is the source of value. Withdraw labour, collapse capital!
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Wealthy corporate execs make money from stocks/investments and capital gains. Corporate revenues are parked in offshore accounts to avoid taxation. This is why you'll see CEOs paying themselves a $1 salary a year...they don't need to live off earnings like the rest of us.
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Unfortunately, and I'm not saying this disparagingly, this has been the norm for about 14,000 years, and exploded during the Ind. Rev.pic.twitter.com/o4DtaltMSU
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All history is the history of class struggle. Other forms of exploitative class society predated capitalism. But there are also examples of non-hierarchical human societies. The goal should always be to abolish class society and thus unlock humanity’s full potential.
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