Like clockwork, the Canadian Centre for Policy Alternatives’ annual greed report was published this week, painting a stark portrait of inequality in earnings between Canada’s top CEOs and the average Canadian.
I agree that the report shows greed—not of the CEOs, but of the "average" Canadians who think that high earners aren’t entitled to the fruits of their labour.
The report suggested that the top-paid CEOs in Canada will earn what the average Canadian earns in a year by 11:47 am on the first working day of 2017—in this case, Tuesday Jan. 3.
That may be true, but so what?
First off, CEOs aren’t performing average work, nor are they people of average backgrounds. Most of them are MBA-holders, have paid hundreds of thousands of dollars for their education, and have a proven track record of generating millions or billions of dollars of profit for their companies.
A Walmart stockboy doesn’t have the same responsibilities, but the left wants to make sure that CEO salaries aren’t allowed to rise beyond a certain multiple of what a company’s lowest paid employee makes.
It’s also a flawed study in the first place:
The Canadian Centre for Policy Alternatives is comparing 100 of the wealthiest people in Canada—extreme examples even by corporate standards—to an average calculated by looking at the general population.
What if we reversed it and compared the average Canadian making $49,000 with the lowest paid 100 Canadians (who all make nothing, of course)?
The average Canadian makes more the second they step into their office than the lowest paid 100. Look at that inequality!
It’s absurd to compare an extreme to an average and expect the result to be meaningful, but the left isn’t looking for meaningful numbers here. They want to stoke the flames of discontent against the wealthy.
Margaret Thatcher warned against this mentality—I’ll show you how in my video, and explain some other key flaws with this report.