Series: The Economic Elite Vs. The People of the United States of America - Part II
“The war against working people should be understood to be a real war…. Specifically in the U.S., which happens to have a highly class-conscious business class…. And they have long seen themselves as fighting a bitter class war, except they don’t want anybody else to know about it.” — Noam Chomsky
David DeGraw, AmpedStatus
This is the second-part of a six-part report: The Rise of the Economic Elit
As a record number of US citizens are struggling to get by, many of the largest corporations are experiencing record-breaking profits, and CEOs are receiving record-breaking bonuses. How could this be happening; how did we get to this point?
The Economic Elite have escalated their attack on US workers over the past few years; however, this attack began to build intensity in the 1970s. In 1970, CEOs made $25 for every $1 the average worker made. Due to technological advancements, production and profit levels exploded from 1970 - 2000. With the lion’s share of increased profits going to the CEOs, this pay ratio dramatically rose to $90 for CEOs to $1 for the average worker.
As ridiculous as that seems, an in-depth study in 2004 on the explosion of CEO pay revealed that, including stock options and other benefits, CEO pay is more accurately $500 to $1.
Related:
Series: The Economic Elite Vs. The People of the United States of America - Part I, David McGraw, Amped Status<>
- Casualties of Economic Terrorism: Surveying the Damage
- Sick in the head: Why America won't get the health-care system it needs
- Supreme Court Removes Limits on Corporate Campaign Spending
