No surprise that there is a gap between CEO pay and people who earn the minimum wage. But, the gap still is pretty staggering to see, per the Economic Policy Institute: "CEO pay-to-minimum wage ratio soars In 2005, an average Chief Executive Officer (CEO) was paid 821 times as much as a minimum wage earner, who earns just $5.15 per hour. An average CEO earns more before lunchtime on the very first day of work in the year than a minimum wage worker earns all year."
Check out the graph that should be burned as a tattoo on the chest of every member of the Senate who voted against the minimum wage increase.
Oh now COME ON! Folks just need to pull themselves up by their bootstraps. Right???
But of course, Reid is now blocking the raises for our esteemed legislators until they raise the minimum wage. Or so he says. Not having an iota of power I'm not QUITE sure how he thinks he's going to accomplish that feat.
Alrighty then. We'll see how that works out for the Dems. I will be hanging by my bootstraps in high anticipation of THAT.
Posted by: Jan | June 28, 2006 at 12:10 PM
That is pretty appalling! And like Jan, I'm not holding my breath on the legislative pay raise work stoppage.
Posted by: belleunion | June 28, 2006 at 12:38 PM
How do you respond to the positino that an expansion of the Earned Income Tax Credit is a better way of helping the working poor than an increase in the minimum wage?
Posted by: David F. Prenatt, Jr. | June 28, 2006 at 01:29 PM
I stumbled across your blog while I was doing some online research. While I understand why CEO's make more money than the "regular Joe" on the assembly line, the enormity of the disparity in their salaries is inexcusable.
Posted by: panasianbiz | June 28, 2006 at 09:46 PM