The annual “Executive Excess” report by the Institute for Policy Studies finds that 25 major U.S. corporation on the Fortune 500 list paid their CEOs more money than they paid in taxes in 2011. Not only that – the report finds that CEO pay at America’s top firms averaged $10.7 million – up nearly 28% since 2009.
Meanwhile – workers’ pay during that same time only ticked up 3%. In 2009 – CEOs made 263-times more than their average worker. In 2011 – they made 325-times more than their average worker. The oligarchs get richer – while the rest of us get poorer.
Numbers like these remind us all why we need global days of action like yesterday’s May Day to bring attention to the plight of working people around the world – and the abuse of power by the Romney super rich.