The group's report, based on 2006 salaries of publicly traded companies, included the pay of people such as Jim Balsillie ($54.7 million) and Michael Lazaridis ($33 million), both of Research In Motion, and Rogers Communications' Ted Rogers ($16.4 million).
The report added that by 1:04 p.m. New Year's Day, these CEOs had already earned what will take a minimum-wage earner all year to make.
"We have to ask ourselves, are those at the top of the income heap really worth so much? And are those at the bottom really worth so little?" Mackenzie added.
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Top CEOs Have Already Earned Average Year's Pay
Posted on Thursday, January 03 at 08:13 by N SayContributed By
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Nobody can "earn" that much. The question of salary differences has been going on since the Greeks. I think it was Plato, or one of the oldie philosophers, who already contemplated that it shouldn't be more that 10:1. Which would be an acceptable figure.
These "earnings" are stolen from the public's pocket with the overcharging for goods and services and from their employees .
So, what is the difference between holding somebody up with a gun, or the use of the perceived power of imaginary capital ?
I would like to see this question tested in the courts.
Then we come to the question of overcapitalization for the purpose of theft, once prominently featured, but now missing from economic textbooks.
Ed Deak.