Study: CEO pay now 200 times more than a worker
Compensation for chief executives at American companies grew 15 percent in 2011 after a 28 percent rise in 2010, part of a larger trend that has seen CEO pay skyrocket over the last three decades. Workers, on the other hand, have been left behind.
Since 1978, CEO pay at American firms has risen 725 percent, more than 127 times faster than worker pay over the same time period, according to new data from the Economic Policy Institute:
From 1978 to 2011, CEO compensation increased more than 725 percent, a rise substantially greater than stock market growth and the painfully slow 5.7 percent growth in worker compensation over the same period.
In 1978, CEOs took home 26.5 times more than the average worker. They now make roughly 206 times more than workers, EPI found. The pay isn’t always tied to the performance of their businesses – as ThinkProgress has noted, CEOs at companies like Bank of America often pocket huge pay increases even as the company’s stock price plummets and jobs are cut.
As a result, American income inequality has skyrocketed, growing worse than it is in countries like Pakistan and Ivory Coast. Wealth inequality is worse than it was even in Ancient Rome. And, as pay skyrockets and tax rates fall for the richest Americans, the rising inequality has left the bottom 95 percent of Americans saddled with more debt than ever before. – thinkprogress.org
Workers’ wages aren’t tied to productivity either. Despite substantial gains in productivity since the 1970s, worker pay has remained flat. According to Labor Department data cited by the Huffington Post, inflation-adjusted wages fell 2 percent in 2011. – thinkprogress.org
Working and middle-class Americans have seen their debt balloon since the 1980s. Today, Americans owe some $704 billion in credit card debt, and more than that in both auto loans and student borrowing. CNN
- Executive Excess in the New Gilded Age (alethonews.wordpress.com)
- Maxing Out (alethonews.wordpress.com)
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From the Archives
“The lady doth protest too much, methinks.”
– Queen Gertrude, Hamlet.
Whenever someone insists too strongly about something not being true, we tend to suspect that maybe it is. In their denials of involvement in 9/11, do Israel’s apologists “protest too much”?
While it would take a small book to adequately document the Israeli connection to 9/11-as Antiwar.com editor Justin Raimondo has attempted in The Terror Enigma-let us briefly recall some of the more intriguing facts as reported in the mainstream media, involving dancing Israelis, Odigo warnings, and Zim’s timely move.
The story of the five Israelis who were seen celebrating and filming as the Twin Towers burned and collapsed was investigated by Neil Mackay in Scotland’s Sunday Herald. The so-called “dancing Israelis” worked for Urban Moving Systems, later deemed to be a Mossad front by the FBI. Despite failing numerous polygraph tests, the young men were deported to Israel two months later. Back home, several of the men appeared on a TV chat show, in which one of them amazingly said, “Our purpose was to document the event.”
Two employees of Odigo, an Israeli instant messaging service, received messages two hours before the World Trade Center attack on September 11 predicting the attack would happen, Ha’aretz reported.
Zim-American Israeli Shipping Co., part-owned by the Israeli government, moved their North American headquarters from the 16th floor of the WTC to Norfolk, Virginia one week before the 9/11 attacks, incurring a $50,000 fine for breaking its lease, according to the Jerusalem Post.
Despite being in the public domain, none of these relevant facts are mentioned in the 9/11 Commission’s 567-page report.
Moreover, Philip Zelikow, the executive director of the 9/11 Commission, is concerned about the spread of such inconvenient facts to the wider public. “Our worry,” he says, “is when things become infectious…. [then] this stuff can be deeply corrosive to public understanding. You can get where the bacteria can sicken the larger body.”
But was Zelikow speaking here as an American government official or as a pro-Israeli insider? … continue
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This article will examine some of the connections between the US and UK National Security apparatus and the appearance of the anthropogenic global warming (AGW) theory beginning after the accident at Three Mile Island. … continue
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