While perusing Facebook the other day, a friend made a related comment in his post about unions. He asserted that the CEO of his former company made WAAYYYY too much money and took unnecessary business trips.
When someone is hired into management into a company, they are paid at a rate that is negotiated one on one between the employer and employee. But how much is WAAAYYY too much? That CEO has shareholders to answer to. He also has his own employees he's responsible for. He could make bad decisions that lead to massive layoffs. He must LEAD the company on a path to profitability. Unions and socialists decry that people make "WAAYY too much money" and yet negotiate for better wages for their members. A line worker at an assembly plant is responsible for doing his job in a consistent manner. One that he learns as he goes on with the job. That CEO is responsible for an entire company. Why shouldn't he be compensated accordingly?