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 prerecession 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.
So the big bosses saw raises 13x that of their employees. How can we celebrate that? I know! Let’s give them even more tax cuts, and to pay for it, we can raise the taxes on those that saw the very generous 2.1% raises.
And to show just how bad this problem is, Think Progress adds this little tidbit of joy:
The middle class is being eradicated, while the fat cats are getting fatter. That 2.1% raise for the average worker has already been eaten up by inflation alone this year, yet I’m sure many in Washington will celebrate this as good news.
Is this really the America we want?