From 1978 to 2011, CEO pay increased 725% while other workers' pay only increased 5.7

[jw]

How dare people assume that these guys can afford to pay a little more ...

http://thinkprogress.org/economy/2012/05/03/475952/ceo-pay-faster-worker-pay/

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 BkofAma often pocket huge pay increases even as the company’s stock price plummets and jobs are cut.


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.


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.

[Andy117]

Even if you think there's something wrong with this, how could you fix it?

[Turd Ferguson]

Even if you think there's something wrong with this, how could you fix it?

Elect politicians with guts.

[Andy117]

Elect politicians with guts.

Those don't exist.

[Emily_Haines]

Even if you think there's something wrong with this, how could you fix it?

Everyone making more than 1 million per year pays 85% tax rate

[rocky502]

Elect politicians with guts.

And then what? Force private businesses to restructure pay plans so it is more equitable? Tax the shit out of them like Emily suggests? Please explain to us how you would like the government to get involved in how private businesses compensate their employees from top to bottom.

[Turd Ferguson]

And then what? Force private businesses to restructure pay plans so it is more equitable? Tax the shit out of them like Emily suggests? Please explain to us how you would like the government to get involved in how private businesses compensate their employees from top to bottom.

I love how you equate "politicians with guts" to a paranoid rant about anti-business bs that the right has been pushing(while executive pay has gone up 725%, I guess that just isn't enough...)

In my parents and grandparents era you worked hard and stayed out of trouble and were able to buy a house and raise a family without taking on a mountain of debt to the banksters, anyone who was smart enough could go to college even if they had to work while doing so, and people bought things made by other Americans who were earning a living wage for an honest week's work. Oh and by the way, businessmen, ceos, and their shareholders were still rich. I think it was called the American dream or some crazy shit like that.

To the Ayn Rand cultists, the American dream is running a business, paying workers as little as possible(slavery and child labor were even acceptable for a long time, and they fought tooth and nail to keep them), only members of the lucky sperm club should be able to go to college, and poor people who get sick should die in the streets-as long as it's well out of sight from their gated community.

Anyone who thinks that the current income disparity is good for society or the economy needs to have their head examined-or split open.

[golfrulz]

speaking of Ayn Rand...........she was more than happy to collect social security...that socialist commie.

[rkelly110]

speaking of Ayn Rand...........she was more than happy to collect social security...that socialist commie.

Along with every other Repuke who says to not take from the govt. They are the largest abusers of govt.

[CrazyCarl]

They do pay more.

[andywend]

Along with every other Repuke who says to not take from the govt. They are the largest abusers of govt.

RKelly, you have leeched 73 weeks worth of welfare benefits in addition to the 26 weeks of unemployment benefits you collected and are whining and complaining that the big, bad republicans won't extend unemployment beyond 99 weeks. Without question, its liberal democrats JUST LIKE YOU that are the biggest abusers of government handouts.

To all of the worthless liberal democrats who whine and complain that CEO's are making too much money, here's some advice for you:

BECOME A CEO YOURSELF and then you can donate whatever percentage of your salary to the workers beneath you. Of course, this can never happen as it takes intelligence and a strong work ethic to become a CEO which are traits that very few liberal democrats will ever possess.

Liberal democrats were whining and complaining during the Bush administrations, whining and complaining under Obama and will be whining and complaining under Obama II or Romney. No president will ever be able to please unproductive, lazy liberal democrats no matter how much "hope" and "change" they promise.

Just imagine how great the U.S. would be if one morning we woke up and all the liberal democrats were gone. We would have a nation full of producers with very little (if any) crime and all that rampant negativity would cease to exist.

[rkelly110]

Thanks for your ever increasing support. Maybe if you keep repeating the same ol same ol, like a broken record, stuck in the stone age, us champions of the people, might change our ways to better serve you. Grow up.

[Carseller4]

Minimum wage has increased 275% since 1978. So a 725% increase in that time for someone at the top level is about right.

[itchypickle]

Liberals and their math

If you pay 15% of let's say 2 Million income then you have contributed $300,000.00

If you pay (married/joint) 25% on household income of $75K - much more than most Occupy/Obama people earn- then you have contributed as TWO people, $18,750


So the cold hard truth that demolishes ANY argument the left has about "the rich don't pay enough" is ONE millionaire pays more than THIRTY TWO non millionaires. so a 32:1 ratio is not considered 'enough' to liberals I guess?

The Peter Schiff debate with the Occupy people last year still says it all...the woman who makes less than $60K is telling Peter how evil he is because he is a millionaire and doesn't give HER more of his money....to which Schiff replies "yes and I've earned that money over 20 years by employing thousands of people, giving them jobs and money- something earned for something done- which also provided a service for hundreds of thousands of people to make their lives better.....so mam what were you saying again about me not doing anything for people? What is it that you have done to give thousands of people a paycheck and a service??

[rocky502]

I love how you equate "politicians with guts" to a paranoid rant about anti-business bs that the right has been pushing(while executive pay has gone up 725%, I guess that just isn't enough...)

In my parents and grandparents era you worked hard and stayed out of trouble and were able to buy a house and raise a family without taking on a mountain of debt to the banksters, anyone who was smart enough could go to college even if they had to work while doing so, and people bought things made by other Americans who were earning a living wage for an honest week's work. Oh and by the way, businessmen, ceos, and their shareholders were still rich. I think it was called the American dream or some crazy shit like that.

To the Ayn Rand cultists, the American dream is running a business, paying workers as little as possible(slavery and child labor were even acceptable for a long time, and they fought tooth and nail to keep them), only members of the lucky sperm club should be able to go to college, and poor people who get sick should die in the streets-as long as it's well out of sight from their gated community.

Anyone who thinks that the current income disparity is good for society or the economy needs to have their head examined-or split open.

Your response to Andy117's question,

Even if you think there's something wrong with this, how could you fix it? was to elect politicians with guts. That would imply that you would want these gutsy politicians to "fix it" or maybe you could explain how electing "gutsy politicians" would change how private companies should pay executives.

The rest of your rant I agree with you on some of it. I am very interested on how you would like politicians to fix the problem. That's all. You said it so please explain that one point instead of deflecting the question and going off on another tangent.

[Shaudius]

Minimum wage has increased 275% since 1978. So a 725% increase in that time for someone at the top level is about right.

In what world is 275% about the same as 725%? The second number is ~2.5xs the first number. Furthermore, the whole point is that the average worker's wage has not increased at nearly the same rate as those at the top, not that the bottom hasn't been increasing at the same rate(and guess what the bottom has increased at 2.5xs lower). Also it doesn't mention the fact that the min wage is actually less now when adjusted for inflation than it was in 1978 or that 100%/275% of the figure you cite came in the years 2007-2009.

[Turd Ferguson]

I am very interested on how you would like politicians to fix the problem. That's all. You said it so please explain that one point instead of deflecting the question and going off on another tangent.

You sound like that other weenie Neil Cavuto, who always whines about the poor persecuted business class. My "tangent" was about the effects of the economic elites and their stranglehold on our government which is supposed to represent we the people. Campaign finance reform, PACs disbanded and made illegal, break up companies that are too big to fail, repeal of the Taft-Hartley act which gave us right to work for less, and restoring regulations that prevent banksters from betting on failure would all go a long way in loosening that stranglehold that has led to the indefensible income disparity that we have now.

It would take an extremely courageous politician to fight for these things on capitol hill, as he would be smeared daily and nightly on fox "news" and talk radio and untold amounts of money would be spent defaming him in his home district with negative political ads.

That's what I was talking about, but what the hell I'll play your game. A great way for the gov't to loosen up those silk suit pockets would be to set the minimum wage to keep up with inflation, which would put it at around $10.50. Or better yet keep it up with executive pay and it would be around $23. Minimum wage workers certainly earn their money more than slimeballs like Mitt Romney.