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Food for thought: A CEO makes as much in a day as a teacher does in a year

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n2doc Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-03-06 11:41 AM
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Food for thought: A CEO makes as much in a day as a teacher does in a year
A Teachers Year, a C.E.O.s Day: The Pays Similar

By HUBERT B. HERRING
Published: September 3, 2006
Enough already on how many millions this or that chief executive earns, how many stock options are tossed around to keep the Champagne flowing, the McMansion dusted, the Bentley polished.

As a little back-to-school thought, lets shift gears to a group of workers who earn pennies in comparison but who, it could be argued, play at least as vital a role in society. It is teachers, after all, who try to make sure that those captains of industry have educated workers.

According to the American Federation of Teachers, the state with the highest average pay for teachers in 2003-04 was Connecticut, at $56,516; the lowest was South Dakota, at $33,236.

Or look at it this way: Pick a corporate chieftain say, Jeffrey R. Immelt of General Electric. He earns $15.4 million a year. Every single day including Thanksgiving and Christmas he makes almost what the average teacher does for a year of taming wild children, staying up nights planning lessons, and, really, helping to shape a generation.

http://www.nytimes.com/2006/09/03/business/yourmoney/03...
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brentspeak Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-03-06 11:45 AM
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1. A tax cut for the rich lifts all yachts
And provides absolutely no benefit for the economy.
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XOKCowboy Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-03-06 11:47 AM
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2. That surprises me!
I figured it'd be more like they make a teacher's yearly salary while at lunch.
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n2doc Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-03-06 11:56 AM
Response to Reply #2
3. Give 'em a few years
Most recent economikc report showed that only the top 5% had income increases that outpaced inflation. If you were in the lower 95%, you fell behind. Even in the next 5% below the top, folks making 6 figures a year....
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pooja Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-03-06 11:57 AM
Response to Reply #2
4. Maybe once you add in the retirement package and all the perks.
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dogday Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-03-06 11:57 AM
Response to Original message
5. The Rich get Richer while the poor get poorer
and the middle class is squeezed out....

This is part of the problem in this country, we are drawing the lines between those who have, and those who have not.....
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BadgerKid Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-03-06 11:59 AM
Response to Original message
6. Pretty much correlates w/Dem. states
Compare to 2004 electoral votes:

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clydefrand Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-03-06 12:52 PM
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7. Using your figures,
since a teacher works about 180 school days (depending on area), that means they make almost $60,000.00 a work day? I don't think so.
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Sinti Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-03-06 01:15 PM
Response to Reply #7
9. The OP is talking about yearly salaries, comparing the two
The example salary used is $15.4 million - $15,200,000

Average U.S. Teachers Salary = $46,600

$15,200,000/365 = $41,643 (rounded down to the nearest dollar)


OTOH if they only worked 180 days and spent the others golfing, vacationing, schmoozing at social functions, cocktail parties and so on:

$15,200,000/180 = $84,444 (rounded down to the nearest dollar)

Salary is salary, not a daily or hourly wage.
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Horse with no Name Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-03-06 01:00 PM
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8. That is criminal
NO other word fits as nicely.
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ulysses Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-03-06 01:23 PM
Response to Original message
10. hey, pay just reflects the values of the society.
Edited on Sun Sep-03-06 01:23 PM by ulysses
That's only partly true, of course. In Georgia, I make substantially more than my sister does in Oklahoma, for the same special ed teaching job in which she has a lot more experience than I do. That's due in part to our repuke governor who likes to "throw money at education" during election years. :D

Still, the society pays what it thinks a job is worth. I think we have a sick society, but that's me.

edited for problematic smiley
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n2doc Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-03-06 02:06 PM
Response to Reply #10
11. Unfortunately, that isn't true
The reason CEO pay is so high is that it is set by compensation boards packed with the friends of the CEO, usually other CEO's who use the pay levels as justification for their own raises. And anyone who thinks that this is controlled by stockholders is living in a fantasy world- stockholder driven pay measures are defeated in the overwhelming number of cases. CEO pay has skyrocketed in the last 2 decades, much more than other fields. And companies aren't peanized for it, in fact they can use it as a tax deduction (Thanks, CONgress!) Teacher salary, is, unfortunately something that is set by society, as we (non-teachers) rarely put pressure on the pols to raise salaries.
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