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 awallejr makes some very good points.

I would also like to add this point: Take a man with a bacehlor's degree and 5 years of industry related experience making 50,000 year. Now take an executive at that same company with a bachelor's degree in the same field, with 15 years industry related experience making 2,000,000/yr excluding bonuses etc.

Is the executive 40 times more productive (beneficial to the economy) than the man making 50,000/yr!?

To put this another way: I'd have to take the middle income earner and replicate him 40 times to make them equivalent to the executive's economic productivity. That is insane. If I separated the one executive from the 40 middle income earners and said "build me a business" and asked you to make a bet on which group would be more successful, you'd have to be completely delusional to pick the executive.

In short, I'm not saying people shouldn't be able to make over $1mill/yr, but I feel in many cases, salaries at a certain level (250 to 500k) seriously start to lose any connection with economic reality. 

 

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