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Fat Cat Wednesday
Comments
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grizzly1911 wrote: »The average FTSE 100 boss earned more money by 9am today than a typical British worker will earn this year, a report reveals today.
On a day dubbed ‘Fat Cat Wednesday’, the report warned there is ‘clearly something wrong’ with the excesses of executive pay in this country.
On average, chief executives in the FTSE index of Britain’s 100 biggest public companies earn a total pay package of £4.3million, including their salary and bonus.....
It calculates the boss is earning around £1,100 per hour, based on ‘generous’ assumptions that they work 12-hour days, work three in four weekends and take only 10 days’ holiday a year......
So what? The same society that gets so angry about this barely bats an eyelid at the idea that Rooney earned more than the average wage by the end of the first day of the year let alone the 8th day.
I lost almost all respect for the general mood against high pay when the green party, who campaigned for executive wages to be limited to a multiple of the average wage in the company when they expressly said they'd allow sports people to be counted as contractors and thus get around it.Having a signature removed for mentioning the removal of a previous signature. Blackwhite bellyfeel double plus good...0 -
I wonder how many nurses salaries that ftse100 boss would be paying by 9am on his 45% tax rate.
Quite.
Sums it up really.
I wonder just how much of the package actually gets taxed at the full amount?
Could of course take a nice salary of say £1m and employ say 200 staff to actually improve customer service, who could contribute to society and pay their NI and tax instead of drawing the generous welfare suggested on here.
Or even better for shareholders he could just put it in the dividend pot."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
So what? The same society that gets so angry about this barely bats an eyelid at the idea that Rooney earned more than the average wage by the end of the first day of the year let alone the 8th day.
I lost almost all respect for the general mood against high pay when the green party, who campaigned for executive wages to be limited to a multiple of the average wage in the company when they expressly said they'd allow sports people to be counted as contractors and thus get around it.
Rugged summed it up nicely in the early part of his previous post.
You don't have to waste money on SKY, season tickets, the constantly changing strip or the music or the latest DVD releases. Never been any different in the pop or sport world, they only kept afloat by individual choice.
I wouldn't lose sleep over anything the Green Party prattle on about apart from Fracking."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
I was recently talking to a mate about something similar to this.
I said I was not earning a cool 1.2 million a year.
He said "That's nothing. I'm not earning 2.4 MILLION a year easy"
Well, I was outraged. How could it be right that he was out-not-earning me !!!! The cheek of it.
-- I lack ambition in the not earning stakes apparently. Go figure.0 -
grizzly1911 wrote: »I wouldn't lose sleep over anything the Green Party prattle on about apart from Fracking.
My concern isn't that the greens are somehow going to make it happen. It's that even the minority parties with more obviously socialist policies somehow see a CEO being paid £1 million pa as shocking but would defend the ability to play a footballer £12 million+ pa.
It shows how strongly the population in general dislikes high achievers in business regardless of facts and rational thought. If we limited sports persons to £50k pa then nothing terrible would happen and within a few years we'd probably be happier with sport. Tickets would be cheaper, so would sports TV and teams would have more British players.
Limit CEO wages to £50k and I genuinely think you'd see the British economy decimated.
But guess which one most voters would choose if given a vote, because god forbid that their team lose just one multi-millionaire player.Having a signature removed for mentioning the removal of a previous signature. Blackwhite bellyfeel double plus good...0 -
grizzly1911 wrote: »Quite.
Sums it up really.
I wonder just how much of the package actually gets taxed at the full amount?
Without doubt, he'll be getting taxed on more of his salary than you are on yours (as he won't have a personal allowance) and he'll be paying a highher proportion of it in tax, and a far higher absoute amount.
I work just under the first six months of the year just to pay my tax. That's about twenty four weeks, of 60 hours a week, purely to cover my tax bill. I do hope that you can say the same, before accusing people like me of not paying our fair share.
As you hopefully knnow, the top 1% of earners earn 14% of all wages, and pay 30% of all income tax. To suggest that we are not pulling our weight is simply wrong.0 -
It shows how strongly the population in general dislikes high achievers in business regardless of facts and rational thought.
I've seen research that suggests that people tend to spport punitive taxation starting just a little way above where they think that they will earn in a few years.
Most people (as above) incorrectly assume that high earners do not pay very much in tax, and that we shoudl be shamed and punished for this. When presented with the truth, they will almost invariably move the goalposts.0 -
As you hopefully knnow, the top 1% of earners earn 14% of all wages, and pay 30% of all income tax. To suggest that we are not pulling our weight is simply wrong.
Income tax being the operative word. Indirect taxes have replaced them."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
My concern isn't that the greens are somehow going to make it happen. It's that even the minority parties with more obviously socialist policies somehow see a CEO being paid £1 million pa as shocking but would defend the ability to play a footballer £12 million+ pa.
It shows how strongly the population in general dislikes high achievers in business regardless of facts and rational thought. If we limited sports persons to £50k pa then nothing terrible would happen and within a few years we'd probably be happier with sport. Tickets would be cheaper, so would sports TV and teams would have more British players.
Limit CEO wages to £50k and I genuinely think you'd see the British economy decimated.
But guess which one most voters would choose if given a vote, because god forbid that their team lose just one multi-millionaire player.
I am not suggesting CEO packages of £50K but something like £1m might be a start. The examples used in the article were referring to packages of £4 - 6 million.
Agree with your sports points."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Without doubt, he'll be getting taxed on more of his salary than you are on yours (as he won't have a personal allowance) and he'll be paying a highher proportion of it in tax, and a far higher absoute amount.
I work just under the first six months of the year just to pay my tax. That's about twenty four weeks, of 60 hours a week, purely to cover my tax bill. I do hope that you can say the same, before accusing people like me of not paying our fair share.
I have always paid tax on my share as determined by an elected government and the rules laid down by the HMRC. Yep have done what you are doing and more.
No doubt Mr/Ms Banker or CEO will be in a position to organise their remuneration with the aid of accountants and the HR function to mitigate as far as possible their tax liability."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0
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