Income inequality means unequal distribution. The most obvious thing is the wide disparity between the rich and poor. Just like in Wells Fargo, the CEO pulled in over 19 million a year which is more than 433 times that of a common employee.
Go a step further, it is often presented as the percentage of income to a percentage of population. For example, some statistic shows that 80% of a country's income is controlled by 20% of that country's residents.
In the letter, Oates said he has been with Wells Fargo for 7 years and his hourly rate was only raised $2 but Stump’s total income is more than thousands of the employees. We can easily got his dissatisfaction in the sentences. So for our society, If most of the people come to work every day and give it their all but can’t get enough salary, people will find the corporation and the government don’t have a heart and will lose interest on their job.
2. What do you think of Tyrel Oates and his email to the CEO of Wells Fargo Stumpf?
Tyrel is brave, rightful and quick-witted. Though he is only a common employee, he chose to speak out and defend his own right against unequal policies instead of complaining about it every day. He really have courage to do something to change his life. What’s more, in the letter, Oates brought up the issue of income inequality .His mind isn’t for private cares, he was asking for a $10,000 raise for himself and his colleagues. He didn’t just fight for himself, but for everyone who is under the inequality. In addition, in the end of the letter, Tyrel told Stumpf this email has been sent to hundreds of thousands Wells Fargo employees. This kind of threat make Stumpf have to pay attention to solve this problem.
His email is convincing and equitable. Firstly, Tyrel used a lot of authentic figures to show the income inequality in company. The statistics make people realized the significance of narrowing the income gap .Besides, Tyrel is not a greedy man, his require is equaitable.I n the letter, he said this year Wells Fargo’s total revenue is $21.1 billion, but his proposal is take $3 billion dollars, just a small fraction of what Wells Fargo pulls in annually, and raise every employees annual salary by $10,000 dollars.
3. If you have to choose a friend among Tyrel Oats, Stumpf and Robert Reich, who would you
choose? Tell me your reasons.
I will choose Robert Reich. Firstly, He is full of intelligence. As an economist, professor, and author, he has an insight into the particularity of the societal system. Making friends with such person can simulate my inspirations and bring about instructive effects .Besides,
his experiences is up-lifting. He is so short but do not have a sense of inferiority and become successful by himself.
You will ask me why not choose Tyrel and Stumpf. Well...Tyrel is brave and rightful enough but he is not smart as Robert Reich. Stumpf is smart enough but he is selfless and don’t have a heart.
4. Is it fair for the CEO of Wells Fargo Mr. Stumpf to pull in $19 million in compensation for his
position? Provide your reasons.
It is unfair. It is understood that Mr. Stumpf position carries a lot of weight and responsibility; however, with a base salary of $2.8 million and bonuses equating to $4 million, is alone one of the main arguments of income inequality. Where the vast majority, the undeniable profit drivers, with the exception of upper management positions barely make enough to live comfortably on their own, the distribution of income in this company is no better than that of the other big players in the corporate world.
5. What is your opinion of Tyrel Oats behavior? How would you judge the ethics of his action
and his subsequent choices?
Tyrel’s behavior is brave, rightful and quick-witted. Though he is only a common employee, he chose to speak out and defend his own right against unequal policies instead of complaining about it every day. He really have courage to do something to change his life. What’s more, in the letter, Oates didn’t just fight for himself, but for everyone who is under the inequality. In addition, in the end of the letter, Tyrel told Stumpf this email has been sent to hundreds of thousands Wells Fargo employees. This kind of threat make Stumpf have to pay attention to solve this problem and also make the employees are united to defend against inequality.
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