You are hereBuzzflash: CEO Pay Soars While Workers' Pay Stalls: Headed Toward the Rich and the Servant (Labor) Class

Buzzflash: CEO Pay Soars While Workers' Pay Stalls: Headed Toward the Rich and the Servant (Labor) Class

April 4, 2011- On April 2, BuzzFlash at Truthout took note that the jobs that are coming back for most Americans pay less and have fewer benefits, compared to the economy prior to the recession.

The USA Today article confirms that reality:

At a time most employees can barely remember their last substantial raise, median CEO pay jumped 27% in 2010 as the executives' compensation started working its way back to pre-recession levels, a USA TODAY analysis of data from GovernanceMetrics International found. Workers in private industry, meanwhile, saw their compensation grow just 2.1% in the 12 months ended December 2010, says the Bureau of Labor Statistics....

The big increases in executive compensation are difficult for workers to swallow, given that many Americans are struggling just trying to find a job or make ends meet, says Alan Johnson of executive pay consulting firm Johnson Associates. "The fact this makes us all squirm is true."

Unfortunately, many national and state legislators who follow the siren song of the Koch brothers are not squirming; they are continuing to press for laws that enhance the gluttonous wealth of the richest in the nation, while devaluing the pay and benefits of American workers.

We are headed backwards to the type of European two-class system that existed prior to the American Revolution: the rich and the servant (labor) class. There's nothing "patriotic" about that. 



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