Monday, February 13, 2012

How Much Lazier Are You Than Mitt Romney?

So a site had been posted recently to show how long it would take Mitt Romney to make your annual income (http://www.slate.com/articles/business/moneybox/2012/01/romney_income_calculator_how_much_does_mitt_make_how_long_would_it_take_him_to_earn_your_salary_.html ).


This led to me thinking... how much lazier are you than Mitt Romney?


Actually, what I'm really thinking about is if our economic systems really gives people what they deserve financially or not, but this calculator just makes it easier to use Mitt Romney as the example (my point could be made even stronger if I used someone who made even more money than Romney, but I'll stick with Romney since the site above used him and I can still make my point clearly with him as the example).


First, let's say our economic system pays people what they deserve.  This would seem to mean that if a person works and gets paid what he deserves and is paid $1, then another person who works twice as hard as the former person would get paid $2, since that is what he would deserve for working twice as hard as a person who worked enough to only deserve $1.


With that in mind, consider that the average American makes around $50,000 a year (I believe this is being generous and the average is actually less than this).  In 2010, Romney made $21.6 million.  Using the link above (or just a normal calculator if you prefer), you get this:


"In 2010, Mitt Romney made $50000 in 20 hours 13 minutes and 13 seconds.


It would take you 433 years 2 months 21 days 23 hours 28 minutes and 7 seconds to make what Mitt made in 2010."

The underlined section is what I'll be referring to.  If both the average American and Mitt Romney get paid what they deserve, this would seem to mean that the average American is about 433 times as lazy as Romney!  It would almost be putting it lightly to say that is impossible.

But let's be fair.  Maybe we should take into after-tax income, in hopes that our tax system is meant to give people what they actually deserve (which is not the purpose, but let's pretend for this experiment).

Now, let's say Romney had a 70% tax rate on his $21.6 million, which is quite a bit higher than what he actually paid, but let's use a "high" tax rate like this anyway for now.  This would make Romney's after-tax income be $6.48 million.  Now, let's say that that average American making $50,000 a year didn't pay any taxes.  Surely this would have to to be much closer to giving people what they deserve!  


However, even in this scenario, this economic system would still show the average American to be about 129 times as lazy as Romney.  I doubt we need a scientist to come and confirm that this is not physically possible by taking something like the average physical and mental stress of the average American, multiplying that by 129 (or 433 in the first case), and seeing if Romney's body could handle it.  

But that was all just a hypothetical case to show that even with high taxes, people like Mitt Romney are either getting way more than they deserve for their hard work, or the average American is getting way less than they deserve for their hard work.

So, if Romney believes our economic system gives people what they deserve for their hard work, then he is committed to agreeing that the average American is about 433 times lazier than he is.  

To be fair, there may be other reasons Romney is entitled to his money or even good reasons why the average American only makes $50,000 a year, but as far as this reason being that our economic systems pays people who work hard what they deserve?  This is not anywhere close to being true.

If we want a system that pays people what they deserve, we need a system that either pays people like Romney much less, or pays the average American much more.  

3 comments:

  1. What is "working hard" and does it mean you should paid more? Does someone who works construction in the hot sun requiring little education "deserve" to get paid much more than someone who went through all the years of school and sits in a airconditioned medical office as a physician? I think the average construction or factory worker works much harder than doctor or lawyer in a cushy office. Unfortunately, humanity values those that work "smarter" not necessarily harder.

    It's important to be fair to Romney and note that although he had a privileged upbringing and was handed wealth, he hasn't squabbled his good fortune but has "worked hard" or diligently to take advantage of what he was given to expand his wealth legally, and as people who know him personally have sworn, fairly.

    (random comment I know, i stumbled upon your post about piracy, very well done IMO, so i thought i would check some other posts)

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