Still doubt we’re living in an oligarchy?

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Check out a new report by the Associated Press today – showing that average CEO compensation topped $9.6 million in 2011 – the highest mark since the AP started looking at compensation numbers back in 2006. Meanwhile – wages for working people have barely budged – and it would now take the typical American worker 244 years just to make what their CEO makes in one year.

And among Fortune 500 CEOs – it’s even worse - they make 380-times more than their average worker. So are Wall Street banksters, oil barons, and corporate executives really worth that much money? Should they be paid hundreds of times more than doctors, scientists, or even teachers? This is what neo-feudalism in America looks like – and if Paul Ryan and the Republicans who are pushing austerity for working people - and trillions of dollars in tax cuts for corporate CEOs - if they win big in November – it’ll only get worse.

It’s time to rethink corporate capitalism altogether – and find ways to democratize the economy with worker-owned cooperatives, and business models like unions that look out for workers, the community, and the environment.

Thom Hartmann Administrator's picture
Thom Hartmann A...
Joined:
Dec. 29, 2009 9:59 am

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I don't understand the hatred of CEO's. It is more than just hatred of the rich, because if you really were upset about take home pay then $9.6 million doesn't even buy a third baseman for a losing baseball team, it doesn't even pay for a kicker in an NFL team, a guy that "works" for 30 seconds every 6 months! It doesn't even pay for a Tom Cruise movie "co-star". Hell, even Lady Gaga made $90 million last, 10 times more than your complaint here.

Are these pursuits more "useful" to society than to actually drive the ships of industry that power our society along? Is not making the ultimate decisions for the companies that provide the jobs for the rest of us worth at least part of the paycheck of some actor or baseball player?

The fact is the CEO IS more than the average worker, they think, live, and breath the company they head all day everyday. Trust me, he should be paid more than the guy who presses the button to raises the boom gate at the office building.

Calperson's picture
Calperson
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Dec. 11, 2010 9:21 am

Currently Chatting

The other way we're subsidizing Walmart...

Most of us know how taxpayers subsidize Walmart's low wages with billions of dollars in Medicaid, food stamps, and other financial assistance for workers. But, did you know that we're also subsidizing the retail giant by paying the cost of their environmental destruction.

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