Monday, July 24, 2017

Outrageous: Avg. CEO Salaries Vs. Avg. Worker Salaries

The chart above, from the Economic Policy Institute, shows the multiple of corporate CEO salaries over worker salaries. Note that as late as 1978, the average CEO salary was only 30 times as large as the average worker salary in private industry. But as the GOP instituted their "trickle-down" economic policy, the CEO salaries (and those of upper management) have ballooned while the worker salaries have remained virtually stagnant (and when inflation is considered, have actually lost buying power).

Trump wants to double-down on the GOP "trickle-down" policy by cutting taxes for the rich and corporations -- making CEO's and other rich people even richer, while doing nothing for most workers. He says this will boost the economy and create jobs. It won't. The economy would only be boosted when workers make more (especially low-wage workers, who would spend all of their new-found wages).

We must change our economic policy in this country -- to a policy that is fair to everyone (and not just the rich, as GOP policy is). That can only be done by voting the Republicans out of power, since they still cling to their failed "trickle-down" policy.

Lawrence Mishel and Jessica Schieder have written an excellent study of CEO and worker salaries for the Economic Policy Institute. You can go here to read it (and I recommend that).

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