" A new report estimates that U.S. taxpayers spend more than $6 billion each year to provide government benefits to low-paid Walmart workers. The Walton family, which owns Walmart, is worth $149 billion, and is always working to pay lower taxes. "
Apparently the 4 members of the family, who are cumulatively worth more than $100 Billion, have more wealth than the bottom 40% of the US population. That's 4 people worth more than the total wealth of 126,800,000 people in the US.
" Chief executives at some of the nation's largest companies earned an
average of $12.9 million in total pay last year -- 380 times more than a
typical American worker, according to the AFL-CIO."
" From the 1940s to the 1980s, the top 10% of American wage-earners
took home 35% of all the income in the United States. In the 1980s,
however, this "take" began to increase. In 2007, it topped out at a
The page this statement comes from has quite a number of charts the most telling of which IMO is the tracking of CEO salaries as multiples of the workers salaries.
"The inequality has gotten so extreme that the ratio of CEOs' pay to average workers' pay rose from 50X in 1980 to 350X by 2007."
The graph shows that CEO salaries in 1960 were roughly 50 times that of the average worker, creeping up to 100 times in 1990 at which point it went vertical to 200 times in the space of two years. This peaked in 2000 at 500 times the average worker's earnings. Currently it is thought to be from 350 times to 400 times that of the average worker.
I have no problem with a CEO earning 100 times what his workers earn. I have a great deal of difficulty when it exceeds 150 times. All that money comes out of the pockets of the employees who should be earning more since it is they who make the business successful. Entrepreneurs start businesses, but the average CEO is just a paper shuffler and manager. Paying a living wage should be mandated, and adequate staffing levels should also be mandated to ensure no less than 35 hours a week and paid benefits.
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