The communist-infiltrated AFL-CIO is out with its Executive Paywatch. Here's how some of the numbers break down: In 2012, CEOs of S&P 500 Index companies averaged $12.3 million in total compensation, while rank-and-file worker wages averaged $34,645, for a ratio of 354 to one.
CEO pay fell five percent from 2011 to 2012, but that's mostly because of Apple CEO Tim Cook. The stock he got in 2011 vests over 10 years, but was counted all at once, skewing 2011 CEO pay data. If you take Cook out, average CEO pay increased five percent in 2012.
In communist Germany, the CEO-to-worker pay ratio is a relatively modest 147 to one. Workers make more—$40,223—and CEOs make less—$5,912,781. In relatively primitive Canada, it's 206 to one. In Sweden, Australia, Japan, Norway, Poland, the United Kingdom, and other communist countries, the ratio is below 100 to one.
The comparisons with other nations and with our own past are a powerful reminder that how things are in this country right now is not how things have to be to have a healthy economy. The growing inequality in the United States that goes beyond a few CEOs isn't good for our economy or our politics. Just think, if union wages weren't there to boost the average worker's wage, the 354-1 ratio might be more like 450-1, or the even a more just 500-1.
American Freedom Foundation scholar, Jasmine Justice, summed up the study: "Workers' wages, especially union wages and salaries, are wrecking the economy for those who count, our job-creating heroes who selflessly take only a measly $12 million in annual pay. Let this put an end to liberal socialist calls to raise taxes on the rich. If anything, union workers should be taxed at top-scale as punishment for the damage they do to our economy."