It certainly isn’t if you have CEO behind your name and you work for a big corporation:
Compensation received by chief executives of the biggest US companies surged 11 percent over the past 12 months — to $9.3 million on average, The Wall Street Journal reported.
Citing a study conducted for the newspaper by management consultancy Hay Group, The Journal said the increase was largely due to decisions by company boards to reward CEOs for strong profit and share-price growth with bigger bonuses and stock grants.
The survey covered the 350 biggest companies that filed their statement between May 1, 2010, and April 30, 2011.
So while middle America is struggling, the fat cats are still raking it in. Really – why shouldn’t they? Employment works much like the economy, based on supply and demand. Right now we have an over abundance of workers (supply), so they can hire people for less than normal wages. A lot of companies are even getting rid of the higher paid employees just to bring in lower paid ones. Is it right for this to occur? Nope, but it is what happens.
Of course there is also a real bad side to this. Income disparity will be even greater. Our middle class is being pushed into non-existence and our standing as the industrialized nation with the highest rate of income disparity will remain in tact. Also this increase will point to a growing payroll in America, which is only the case for about 1% of the working population. For the other 99% payroll has either remained flat or sunk, which the cost of living has continued to rise.
But let’s not dwell on that. We should all be celebrating because our richest citizens are getting even more rich. While your serving up your family a delicious dinner of Ramen Noodles tonight, don’t forget to give thanks for our country making sure the rich thrive while you struggle to feed your family a 50 cent dinner!