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
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By Rick Sterling | Dissident Voice | February 21, 2017
The Netflix movie The White Helmets may win an Oscar in the “short documentary” category at the Academy Awards on Sunday February 26. It will not be a surprise, despite the fact that the group is a fraud and the movie is a contrived infomercial.
The White Helmets are a “feel good” story like a Disney hero movie: 90% myth and fabrication. Most of what is claimed about the Syrian rescue group is untrue. They are not primarily Syrian; the group was initiated by British military contractor James LeMesurier and has been heavily funded (about $100 million) by the USA, UK and other governments. They are not volunteers; they are paid. This is confirmed in the Al Jazeera video which shows some White Helmet “volunteers’ talking about going on strike if they don’t get paid soon. Most of the heavy funding goes to the marketing which is run by “The Syria Campaign” based in New York. The manager is an Irish America woman Anna Nolan who has never been to Syria. As an example of its deception, “The Syria Campaign” website features video showing children dancing and playing soccer implying they are part of the opposition demand for a “free and peaceful” Syria. But the video images are taken from a 2010 BBC documentary about education in Syria under the Baath government. … continue
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