The definition of inequality and the scapegoating of executives or the top 1% is nothing more than a giant red herring. In fact, the very term inequality misleads and is a ruse of the left.
The real problem is the lack of growth of income and changing economic opportunities for the average American. If the income of high earners was confiscated by government, what would it do for the average worker? Well, it might make them more dependent on government, is that equality? An income gap and inequality are two different things. The political left sees an opportunity to convince people they are entitled to someone else’s money and their party is the vehicle to do it. Increasing taxes substantially on the high earners does not close any income gap at all.
But the main causes (of inequality) are not immigration. The growing gap is driven by the increasing share of income that goes toward owners of capital, and by the explosion in executive pay even as worker pay stays flat. From 1978 to 2016, average, non-managerial worker pay at firms with 1,000 employees or more rose just 11.2 percent, compared with 937 percent growth in CEO pay, according to a July study by the progressive Economic Policy Institute. In 2016, CEOs of those firms made 271 times what their non-managerial workers made, on average, EPI found. SOURCE: HuffPost.com 8-4-17
Chief Executive Officer (CEO) Salary
Chief Executive Officers in the United States can expect to earn a very comfortable salary, with average salaries (in the ballpark of $163K) surpassing six figures annually. Cash earnings for Chief Executive Officers — including $146K in bonuses and $118K in profit sharing proceeds near the top of the pay scale — generally stretch from $75K to $409K depending on individual performance. This group’s pay is mainly influenced by the particular firm, followed by career length and location. Most people in this position report feeling highly satisfied with their jobs. Medical benefits are awarded to a large number, and more than half earn dental coverage. Source: Payscale.com
Categories: My Opinion