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Worker Wages Flat, But Since 1978 CEO Pay Has Soared by 937%


#1

Worker Wages Flat, But Since 1978 CEO Pay Has Soared by 937%

Jake Johnson, staff writer

Wages for most American workers have remained basically stagnant for decades, but a new report published on Thursday by the Economic Policy Institute (EPI) shows that the CEOs of America's largest firms have seen their pay soar at a consistent and "outrageous" clip.


#2

Fight the oligarchy:

https://twitter.com/ourddp


#3

Meanwhile, the gluttonously wealthy aspiring members at Mal-y-Loco cannot wait to put up $200,000 to $250,000 (doubled January, this year) plus $14,000/year annual dues without the blink of an eye so they can cozy up to Dr. Demento, the orange butt rock. It is an absolute that the “workers” at the garish club make minimum wage ($8.10/hour in Florida) without any overtime pay or other perquisites (medical/dental/retirement) and all are “temporary” workers so that the Trump trash tribe does not have to adhere to federal labor laws. And the vast majority are Hispanic or Filipino along with being a first or second generation immigrant…legal or not.


#4

Clear picture of a few dictating to the rest. And clear confirmation that no, Trump is not an aberration, it’s just an expression of the dictating system.


#5

This just proves that common workers are not worth shit, while the real value of a CEO has obviously legitimately multiplied by 10. Simple truth, economic logic, the genius of the “free” market.

Follow the growth curve, and by 2056 the real value of a CEO will again multiply by 10, and that too will be the obviously legitimate genius of the market that makes us all free.

Nothing to change here, folks. No need to demand that a gang of criminal looters give up “their” wealth. No need to denounce the rules and structure of the “free” market system that makes these geniuses so powerful.


#6

And Trump is a shinning example of what CEO’s are about—they are clueless idiots who sit at the top and say everything is great.
Richard Wolff had a great comment on the current situation in Detroit-----a way of the future.
Just look at the comments by Alan Greenspan to Sen Sanders about keeping people down. These people with the power know what they are doing-----they know people can’t afford to live or get ahead. Obama along with the democrats should have raised the national minimum wage to $12 back in 09—they could have allowed it to take effect over so many years----this would have been the best fix for this economy.


#7

I agree and “the oligarchy” needs to be named; the CEOs need to be named, the corporations who’ve abused financial equity need to be named, the products they represent need to be named …and named again and again, over and over.


#8

[quote=“SkepticTank, post:9, topic:43404” (below) ]   “Politicians from both major parties continuously espouse the notion of meritocracy. The rich are rich because they earned / deserve it. The poor are poor for the same reason.  Our ‘system’ justly rewards each of us accordingly.” [/quote]

WHICH IS BULLSHIT   Most of the rich – not all, but most – are rich because their parents were rich, and “our” laws are rigged to protect the rich.  Case in point being Donald Trump, who would likely have been in prison for fraud for the past twenty years if he hadn’t had his father’s money to pay the crooked lawyers who got him off.

One simple solution – but somewhat unlikely to be adopted – would be to make the alternative minimum tax for ALL korporations equal to the TOTAL compensation paid to the top one percent of their employees.*  Thus an organization paying $15 Million to their CEO, $5 Million to their President, and $1 Million to each of five V.P.s would also pay at least $25 Million to the Federal Government for the good of the Commons. (Obviously “our” Federal Budget also needs to be revised so that it also serves the common good and not primarily the Military-Industrial Complex and the Multi-NaZional Korporations as at present.)

* ‘Total Compensation’ to include any and all stock options, travel expenses above business-class airfare for the employee only (no family members or “secretaries”), company-paid health & life insurance, company car and chauffeur, etc., etc.


#9

I’ll keep on repeating this:

Politicians from both major parties continuously espouse the notion of meritocracy. The rich are rich because they earned/deserve it. The poor are poor for the same reason. Our ‘system’ justly rewards each of us accordingly.

Based on that foundational myth, capitalism can’t fail you–you can only fail at capitalism.

PS-Left unsaid is that not only have C-Suite oligarchs stolen a disproportionate share of income growth while so many have stagnated, they take outsized cuts of the pie even when the companies they lead fare terribly under their watches. Case in point: Carly Fiorina, poster child for inequality.


#10

Up the ante, Fester. Corporate profits and C-suite compensation are at or near all-time highs. So we either drop the pretense of a corporate tax altogether (because so many corporations find ways around it anyway) or make it a flat 25%, no deductions, loopholes, offshore hideouts, or subsidies.


#11

That’s why I called for an Alternative Minimum Korporate Tax - one that they CAN’T get around, no matter how much they claim in “business expenses” and other offsets.  Of course the current cap on FICA taxes should be removed, and all Korporations – since, per SCOTUS, they are now “people” – should also be paying into Medi­care and Social Security.


#12

Well, as ‘people’ their payments into FICA would be capped after $115K in income or thereabouts, but otherwise I’m with you.

I’m sure the populist champion, DJT45 will get right on that.


#13

Well, well, thank you Ronnie, thank you Margaret that trickle down theory sure worked out, hey! Only someone forgot to tell the boys and girls at the top they were suppose to spread around the take.


#14

When the classic economists used the term “free market”, they meant one free of “unearned income”, not one free of taxation and regulation which exactly where all these huge salaries are coming from, unearned income.


#15

#16

The flip side to this phenomenon has been the largely successful Demonization and Marginalization of Unionized Labor, due, in no small part, to a Captured Media.


#17

Meanwhile, the orange butt rock doesn’t want Mueller snooping into his finances. Now why is that do you suppose?


#18

Of course you’re right H. Coyote, Thanks. Would you agree that Jake Johnson is on a roll? I hope he keeps it up!


#19

And now the greedy are coming after the common good.


#20

Could it be that OBR is fearful that all his “charitable contributions” that were made with checks from his accounts at Goldman Sachs, Vnesheconombank (or VEB), Bank of China, and Deutsche Bank will be revealed and a horde of “charities” will come calling with hands outstretched? (wink-wink)

He has a mountain of malfeasance to hide, to be sure.