Friday, April 20, 2012

Thom Hartmann: It pays to be a greedy CEO and screw over your workers

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The AFL-CIO is out with their new Executive Pay Watch report - revealing that CEOs at Fortune 500 companies made on average $12 million each in 2011. They're now getting paid 380-times more than their average worker. That's a slight increase since 2010 - and a massive increase since 1980 - when, before Reaganomics, CEOs were paid only 42-times more than their average worker.
On top of that - CEO pay increased nearly 14% in 2011 - compared to a meager 2.8% increase in worker pay that same year. The rich are getting richer and the poor are getting poorer - creating the largest wealth inequality gap in America since right before the Stock Market crash of 1929. And rather than doing something about it - multi-millionaire Congressman Paul Ryan and the Republicans want to make wealth inequality even worse with a $3 trillion tax cut for the nation's Romney-rich. We can't afford to do that - in fact, we need to be doing just the opposite.
We need to roll back the Reagan tax cuts - and make the Romney-super rich pay their fair share in taxes again.
(How high should CEO pay go? Tell us here.)

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