Of course not, they would say. Anyone who would sit in their car and make a video about how unfair life is and announce a plan to inflict “retribution” on CEOs could only be suffering from a mental illness.
But then why the obsession with the pay of CEOs? What exactly are we expected to do with that information?
From Newser.com: “CEOs Now Make 257 Times More Than You.”
They’re the $10 million men and women. Propelled by a soaring stock market, the median pay package for a CEO rose above eight figures for the first time last year. The head of a typical large public company earned a record $10.5 million, an increase of 8.8% from $9.6 million in 2012, according to an Associated Press/Equilar pay study. Some odds and ends:
A chief executive now makes about 257 times the average worker’s salary, up sharply from 181 times in 2009.
We sometimes hear about the income made by movie stars or (more often) professional athletes, but almost never with the same kind of implied hostility. The idea is that this money is somehow stolen from, or at least owed to, the “average workers.” This argument is never used to actually take money from the CEO and give it to the average workers. Instead it is used to raise tax rates on “the rich”—who by sleight of hand are people making far less than the CEOs—so that the money goes to the Federal Government. CEOs are vilified in order to justify confiscating the wealth of a different group of people and give it to yet another group of people.
Among the facts that the writers considered not worth including in their story is exactly how many CEOs there are compared to how many workers. Then one could show how much more income per year workers could get if the money going to the CEO was directly transferred to them. I suspect such figures would demonstrate that the workers’ standard of living could not be significantly raised by such a transaction.
I suspect that there is a problem lurking behind the rising gap between CEO pay and the income of the average worker. The market transactions are being corrupted by the presence and activity of the Federal Reserve. CEO compensation is often driven by the value of the company’s stock. Barack Obama’s “trickle down economics” has massively inflated such wealth—while forcing those in lower income brackets to deal with inflated food and energy prices.
Taxes can’t fix that. Abolish the Federal Reserve instead!