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September 22, 2005

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A lot of low income earners tend to be fascinated with the issue of income inequality. They claim it's unfair or unjustified that two people who work the same number of hours could have such radically different pay. Making these observations in New York can really drive in the point. I've learned through the years that excessive pay is usually just a simple issue of supply and demand. And when you view it that way, it doesn't seem excessive at all. What sparked my own contemplation on the subject was A Rod's 10-year $252 million contract. How could Scott Boras claim this as reasonable, or better yet, deserved? Well, it is. If A Rod really proves to be the best 3rd baseman in baseball, consistently batting .300, hitting 40 homers, and always making the post-season, his pay might be worth it. Furthermore, if he can generate the sort of buzz that fills seats at Yankee stadium ($$) and sells souveniers ($$), he may actually be underpaid? Well, I wouldn't go that far but you can see my point. Perhaps the best way of looking at it is that if he were 10% worse, he'd probably get paid 90% less. I use that same logic to justify the price of Google stock. Now, Judge Judy making more than Hank Paulson? That does make a statement about our culture, doesn't it ;-)

Although there is much debate about this subject, one thing is definitely true:

You are worth whatever someone will pay you.

So go out and find someone who will give you more money.....
....right now!

D

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