Daily CEO Pay Now Exceeds the Average Worker's Annual Salary

[The Straight Story]

In 1965, the average CEO made 20 times the average worker. Now the ratio is 273 to 1, meaning the average CEO makes in a day what their workers make in a year.

U.S. corporate CEO salaries rose 16 percent in 2012 according to a new report from research firm Equilar. Top salary: Larry Ellison of Oracle - over $96 million. Top exit bonus: James Mulva of ConocoPhillips - $156 million.

Average salary for the CEOs of the top 200 U.S. companies with revenue of over $1 billion was $5.3 million. The big money, however, is paid out in stock and options which added another $9 million to the median compensation package for the CEOs.

Worst off were the workers at these companies whose median pay is now at a historic low compared to the CEOs. In 1965, according to a new report from the Economic Policy Institute, the average CEO made 20 times the average worker. Now the ratio is 273 to 1 ie the average CEO's daily salary is now greater than the annual salary of their workers.

Ellison did even better - he was paid the equivalent of the average U.S. salary of $45,790 every single hour last year.

http://thecontributor.com/daily-ceo-pay-now-exceeds-us-workers-annual-salary

[cantbeserious]

1. The Oligarchs Own The Politicians And Control The System For Their Benefit

eom

[Dwayne Hicks]

2. Disgusting

But of course tea baggers will simply say "he earned it" and that we are just jealous and communists for wanting better pay. See its "freedom" when a CEO can rake in all the money despite the company failing, but its "socialism" when those communist unions strike for better pay, those greedy "takers".

[TransitJohn]

3. Good post, TSS

thanks.

[CurtEastPoint]

4. Mulva? Seinfeld?

[RainDog]

5. so of course they can't fund Soc. Sec.!!!!!

and OF COURSE social security has to be altered because, really, how can they expect to live on less?

those strivers! they've earned those salaries the boards packed with friends and relatives have voted on for them.

[SammyWinstonJack]

12. So it took him just under three hours to pay his social security taxes for the entire yr.

[RainDog]

17. The fica cap needs to be taken off

anyone who earns more than $120,000 a year can afford to fund social security.

especially when you know assholes like the Waltons have made fortunes tossing employees on welfare rolls to make a buck.

My language is getting more and more hostile toward the rich these days. I am not a violent person, but sometimes my words are - and what I wish for people like the Waltons and this guy is not something I can say out loud.

Hatred of the rich, however, has been earned by too many of them.

[socialist_n_TN]

26. Don't hate the playa, hate the game....

Although the wealthy who believe they are entitled to this kind of obscene wealth might deserve a few choice words and violent thoughts, it's really the system of end stage capitalism that allows this kind of inequality of wealth and income.

[reformist2]

20. Haven't you heard? We're Broke!!!

[Rex]

6. Another win for the plutocracy!

They hold all the cards.

[fascisthunter]

7. greed and the never-ending need for more

some call it hoarding... I call it a sickness, that the world supports.

[Rex]

9. It is a disease imo.

nt.

[tclambert]

30. It is a disease. It's a strange disease, though, in that it hurts people who don't have it.

[IrishAyes]

8. I don't like the idea of violent revolution

But that's what always happens when things get this skewed. Always. Katie, bar the door.

[The Wizard]

10. We need a general strike like the French do.

In France the government fears the people. In the U.S. the people fear the government.
But but but this is the land of the free and home of the brave, maybe once upon a time.

[SammyWinstonJack]

11. Despicable, greedy, and obscene.

This is especially despicable...


Ellison did even better - he was paid the equivalent of the average U.S. salary of $45,790 every single hour last year.

[chervilant]

13. The Corporate Megalomaniacs--

who've usurped our media, our politics, AND our global economy--are doing whatever it takes to secure their hegemony.

As Zappa so wisely noted, when it's no longer profitable for them to keep up the facade that we still live in a Democracy, the uber wealthy sociopaths will just take down the scenery, so to speak.

[tblue]

14. Dailly? No wonder we are up a creek.

Totally outta whack our economy is. The global economy actually. This is precisely the recipe for a failed democracy. It's no accident either.

[Initech]

15. George Carlin was right - it's a big club and we're not in it.

[reformist2]

16. How stupid are we, that we can't get a consensus that redistribution is in order?

Even from a clinical, scientific point of view, it only makes sense that in order to have a more vibrant economy, you don't want piles of money amassing at the periphery - you would want that money to be put back into circulation somehow!

[RainDog]

18. Too stupid to live in a democracy, for too many

Americans don't even know how unequal income distribution is in this nation. They assume everyone is better off than they are, and that income inequality is no where near what it actually is.

when they are asked what they think an ideal income distribution is for the U.S. - they prefer Sweden's social democracy model.

when asked what they think income distribution actually is in the U.S., they assume it's like a social democracy model. But it isn't.

however, when asked how to deal with this income inequality, they don't make the connection between taxes for the wealthy and their own well being - they don't understand how income inequality is dealt with in healthy, functioning western democracies.

the reason they don't understand this is because our media is full of worthless little shits who kiss the ass of the rich.

if people were shown the reality of what income redistribution achieved in this nation and what it achieves in others - they wouldn't be so stupid.

Income redistribution is what created the American middle class.

This same middle class is now too stupid to vote in its own economic interest.

[socialist_n_TN]

27. As Huey Long once said (paraphrasing)...

Money is like manure. You spread it around in a garden and it makes everything grow. You pile it up in one place and it just stinks.

[reformist2]

31. He was right!

Thanks - never heard that one before!

[bvar22]

19. And THIS is being touted and ballyhooed by the Democratic Party leadership as a "RECOVERY"!!!

Thanks for the link.
Added to the list of Economic Outrages and Crimes against the Working Class:


Daily CEO Pay Now Exceeds the Average Worker's Annual Salary –
http://thecontributor.com/daily-ceo-pay-now-exceeds-us-workers-annual-salary




76% of Americans are living paycheck-to-paycheck
http://money.cnn.com/2013/06/24/pf/emergency-savings/index.html


New Rule (Passed by Congress and signed by President Obama) signals Kiss of Death for Pensions
http://www.cnbc.com/id/100694955

Wealthy win lion's share of major tax breaks
http://www.boston.com/business/news/2013/05/29/wealthy-win-lion-share-major-tax-breaks/Ua0UyYle21EUXub7g1suCI/story.html

Half of America is in poverty, and its creeping toward 75%
http://www.alternet.org/economy/real-numbers-half-america-poverty-and-its-creeping-toward-75-0

Wealth gap widens as labor's share of income falls
http://www.nbcnews.com/business/wealth-gap-widens-labors-share-income-falls-1B6097385

As the Economy Recovers, the Wealth Gap Widens
http://www.usnews.com/news/blogs/rick-newman/2013/03/11/as-the-economy-recovers-the-wealth-gap-widens

Top One Percent Captured 121 Percent Of All Income Gains
http://www.huffingtonpost.com/2013/02/12/top-one-percent-income-gains_n_2670455.html

Corporate Profits Hit Record High While Worker Wages Hit Record Low
http://thinkprogress.org/economy/2012/12/03/1270541/corporate-profits-wages-record/?mobile=nc


These things ^ do NOT happen by accident.
They take careful planning, preparation, marketing, buying the right politicians, message control, and the marginalization of any opposition.


When the Working Class & The Poor realize WE have more in common with each other
than we have in common with the Rich 1% Ruling Class and their Mouth Pieces in Washington,
THEN we can have "change".



You will know them by their [font size=3]WORKS,[/font]
not by their promises or excuses.

[miked62916]

21. what a sad state of affairs

We should tax the greedy fat cats as much as possible. That way, we could help alleviate the growing income inequality in this country.

[HughBeaumont]

23. And that's strictly salary.

If we're talking wealth…

Each time Larry Ellison coughs, sneezes or yawns, he makes $100.
With one one-thousandth of ONE PERCENT of his wealth, he could purchase a $310,000 home with cash . . . and make the money back within four hours. Six McMansions a day . . . And it would not make one DENT in his personal worth.

Just one of the many examples of how we "punish success" in America . . . so you should just forget about taxing the Larry Ellisons of the world because if you do that, he'd be forced to live in a grass hut or something . . . . . .

[The Straight Story]

24. He bought up 24 homes in Malibu:

The Oracle Corp. chief executive has bought nearly two dozen properties in the beach community, according to a public records search conducted for The Times by PropertyShark.com.

Ellison has spent an estimated $200 million to $250 million through at least nine purchases, in one case of multiple homes, on coveted Carbon Beach. Along the way, the software tycoon dropped millions on a wooded estate near the Franciscan friars in gated Serra Retreat. He also has bought an inland tennis club, Casa Malibu Inn and coastal restaurant property.

http://articles.latimes.com/2013/may/05/business/la-fi-ellison-malibu-20130505

[Apophis]

25. I'm going to sit on my apathetic fat American ass and do nothing about this.

Because celebrity news, gossip, and sports stats and scores are more important.

[tclambert]

28. Yeah, but sometimes Larry Ellison would work through his lunch hour . . .

[Jasana]

29. Robber Barons. nt

[liberal_at_heart]

32. K&R