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.
Surging CEO pay has potentially negative implications for other employees, leaving less on the table for wages, benefits and other compensation. Top execs at large public companies are keeping about 10 percent of their companies' net profits, about double the rate in the early 1990s, according to the AFL-CIO.
While some would argue that CEOs are earning more because they provide extraordinary benefits to their companies, EPI president Lawrence Mishel says the evidence doesn't support that.
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6 comments:
It is amazing that we now this and people still complain about unions. This is why they exist. I do agree some unions can can truly be destructive to the survival of a business. Unions are the only way a worker can get fair pay and benefit packages in most cases.
Some of these C.E.O.s are making 553.00 an hour.
I doubt there is anyone in this world worth the millions paid to Corporate Executives, sports, and entertainment stars.
as well they should. If johnny line worker screws up- one car has a problem. If johnny CEO screws up, the company folds and hundreds of folks are without jobs.
A lot of ceo's get paid millions because the banks lending the companies at zero percent interest.
This is simply class warfare.
Another attempt to incite the 'working class'.
Based on a notion that outcomes in life should be more equal.
Where does that come from?
I hate unions. If they actually cared about the workers, that would be one thing- all union members care about is getting the maximum amount of money for the least amount of work, which is immoral and stealing. Remember the crappy, bloated, poorly made cars of the 1970's- that's the big fat slob union man for you- refusing to put any pride in his work but demanding his "rights".
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