Income Inequality: Minimum Wage and CEO Salaries
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Guest: Jeremy Funk, Spokesman for Americans United for Change
A discussion of income inequality in America and the minimum wage increase happening today in Congress, and a discussion of CEO salaries…
Republicans say that shareholders have no business dictating corporate salaries. If CEO’s and board of directors want to pay themselves hundreds of millions of dollars as a corporation goes down the tube, that’s their right. (The recent example of Home Depot actually pales in comparison to other examples like Disney, not to mention Enron.)
Democrats say that shareholders, as the owners of corporations, should have the right to decide how much corporate management is paid.
Who are the true capitalists here? Why do Republicans always want to favor the lazy, incompetent rich while punishing the hard-working poor?
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Doug Scott January 12, 2007 11:35 pm
It’s pathetic that the BOD , in colusion with the CEO’s, can pay themselves those incredible salaries, more so when they ask/force paycuts on the employees of the corporation. I work at a major airline in the US and lost $12,000 a year in pay (plus 2 weeks a year of vacation) to allegedly keep the company out of Bancruptcy. 2 years later, the executives recieve $102,000,000 in bonuses and the CEO get’s a 23% raise. Meanwhile I get 1.5% to fall behind inflation…
The company is paying out over $200 million for better seats in first and business class, and yet they provide no food for the Cabin Crew working a 12 hour shift with no chance to GO buy food.
(this allegedly cost the Co. 5 Million a year).
I say Cap CEO salary to a % of the corporate profits only. Say for a company of 20,000 employees the CEO should be paid 5% of total profits for the year. and none of those preffered stock options by the truckload,If they want to own company stock they should pay for it like the rest of the employees.
The fascist President and his corporate goons are turning this country to a corporation. What ever happened to a “government of the people, for the people and by the people?”