They say that even a "great recession" has its up side. Talented people, who might have stayed comfortably as small cogs in the great wheel of industry, get booted out into the cold. They invent dynamic new businesses. They create inventions. They branch out and bring new ideas to the new careers they are forced into.
Or, as in my case, they obsess on get-rich-quick schemes.
How, oh how, to get some of that money back? Because I've got news. My daughter is going to college. Thanks to a weekend trip to see Michael Moores' Capitalism: A Love Story, I now have a plan.
I'm taking out a life insurance policy. On Rupert Murdoch. Or Bill Gates. Or Warren Buffet. Or--oh hell, who cares? One of those top-paid CEOs we're always reading so much about. (For an interesting graphic look at executive pay, check out this from GOOD)
Apparently, taking out life insurance policies on lower-rung workers in a large corporation, has been all the rage the past decade or so. The employer takes out a policy in secret on, say, a deli meat cutter, and names itself as the beneficiary. Then, if the meat cutter dies, the company collects--and does not share with the family--the tax-free benefit. It was controversial long before Moore's film, but seeing it again just reminded me of its evil genius. (There was no mention in the film of possible conflict of interest the company has as it doles out health insurance benefits. Or am I just being paranoid?)
It's called "dead peasant" insurance. Revealing, huh?
My version would be called "dead plutocrat" insurance.
I know what you're thinking. "But Roxie, the dead peasant has a relationship with his employer. If he dies, the corporation suffers. You, on the other hand, are not related to any of these high-rollers."
Tut, tut. If you mull it over, if you obsess for hours, the evil logic will come. Have a little faith.
Here's my thinking:
1. All of the company's brains are in the highest rung of its management. In fact, they are the only smart people in the country. Otherwise, why would they be paid so much more? I've resisted this idea for years, but now I see the truth. These people are getting paid so much because without them, the corporations would collapse within seconds. We have to keep paying them protection money, otherwise the corporations and, yea, the whole United States, will be brought to a crushing monetary (and maybe even military) disaster that none of the rest of us are smart enough to deal with.
2. I depend on these companies for my daily existence. This computer I'm using right now, the Internet. What would happen if they suddenly quit working? Or if the power went out. How would I go on? I wouldn't, is the answer. I--and perhaps my family--would die. Or we'd at least lose our livelihoods and go bankrupt.
3.Ergo, the leaders of these mega-corps have life and death power over me, the unschooled peasant. What could be more practical than a policy to propect myself should one of them suffer an unfortunate accident?
Of course, it would be barbaric to root for the death of our country's great fiduciary leaders, and I'm certainly not suggesting such a thing. But on the other hand, we sure do need a new stove. Or money for college. Just one payoff might allow us to swing an extra degree of heat from the furnace this winter.
Think about it.
In related news
Mike Hendricks, Kansas City Star columnist and my husband, posted Monday on executive "incentive" pay at the Tribune Co.
Yes, his blog is back, and open to the general public. The name is changed from "Mike's Place" to just "Mike Hendricks."
Tuesday, October 6, 2009
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