In the last 30 years the pay for Americans workers has remained virtually stagnant (which means the average family has less buying power now that it did thirty years ago). That's because while wages have been stagnant, inflation has not. But the richest Americans have not been so unlucky. The last thirty years have been a boom-time for them, and they have seen more than a 270% increase in income (because they have shared none of the increased productivity achieved by their workers).
And some of the greediest of these richest Americans have been the CEOs of large corporations, who now earn more than 350 times the salary of the average worker in their companies. Here is a list of the highest paid CEOs in America (according to Forbes Magazine):
1. John Hammergren (McKesson).....$131.2 million
2. Ralph Lauren (Ralph Lauren).....$66.7 million
3. Michael Fascitelli (Vornado Realty).....$64.4 million
4. Robert Iger (Walt Disney).....$53.3 million
5. George Paz (Express Scripts).....$51.5 million
6. Jeffrey Boyd (Priceline.com).....$50.2 million
7. Lew Frankfort (Coach).....$49.5 million
8. Stephen Hemsley (UnitedHealth Group).....$48.8 million
9. John D. Wren (Omnicom Group).....$45.6 million
10. Michael Watford (Ultra Petroleum).....$43.7 million
11. John C. Martin (Gilead Sciences).....$42.7 million
12. James Dimon (JPMorgan Chase).....$42.0 million
13. Leslie Moonves (CBS).....$41.5 million
14. John Plant (TRW Automotive Holdings).....$41.1 million
15. David Zaslav (Discovery Communications).....$40.7 million
16. Laurence Fink (BlackRock).....$39.9 million
17. Richard Adkerson (Freeport-McMoRan Copper & Gold).....$39.5 million
18. James Hackett (Anadarko Petroleum).....$38.9 million
19. John Chambers (Cisco Systems).....$37.9 million
20. David Pyott (Allergan).....$33.8 million
21. Gregory Lucier (Life Technologies).....$33.8 million
22. Charles Davidson (Noble Energy).....$33.4 million
23. Louis C. Camilleri (Philip Morris).....$32.7 million
24. Joe Tucci (EMC).....$31.6 million
25. Gregory Boyce (Peabody Energy).....$30.7 million
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