How do you value the efforts of America’s top chief executives? Are they worth 10 times what their average worker makes, 20 times or even 100 times?
The current answer appears to be a ratio of more than 300-to-1, according to a new study from the left-leaning Economic Policy Institute. The meteoric rise of CEO pay is nothing short of breathtaking, outpacing not only the wages of ordinary workers, but also gains in the stock market and the not-too-shabby rise of income among America’s 0.1 percent of top earners. MORE
Mitt, whether you run or not, we cannot forget the moment when we saw you “denigrating nearly half the electorate as ‘victims’ who do not take ‘personal responsibility and care for their lives…” Your candidacy will stoke the fires created when MOTHER JONES revealed the true and secret Willard Mitt Romney.
NEWS JUNKIE POST
America’s middle class has been under attack for about 30 years. One of the main goal of Reagan, the Republicans and the pro-corporate Democrats was to dismantle the few critical social programs and safety nets put together by FDR and later Lyndon Johnson. Bush Sr. kept pushing for the same social Darwinist policies of deconstruction of the New Deal, so did ultra corporate Democrat Bill Clinton, and of course Bush Jr. So far, President Obama has failed to reverse the disastrous policies of what could be called America’s Jungle Capitalism.
The great divide between the haves and have-not has dramatically increased since the 2008 financial crash. The United States has seen a record number of its citizens living on food stamps while the number of millionaires has also reached a record high. It makes America as polarized in term of wealth possession today as in 1928.
Recent statistics show that 40.8 million Americans currently rely on food stamps to meagerly survive. It means that one out of eight Americans can not make it without government provided food stamps to feed themselves. This figure is projected to rise to 43.3 million by 2011.
Via Think Progress: “According to the latest edition of the AFL-CIO’s Executive Pay Watch report, the gap between CEO pay and worker pay expanded last year. In 2011, CEOs in the Fortune 500 made an average of $12 million, about 380 times what the average worker makes…”.* The Young Turks host Cenk Uygur breaks it down.
*Read more from Pat Garofalo: http://thinkprogress.org/economy/2012/04/19/467516/ceo-pay-gap-2011/ More