Sunday, April 3, 2011

Mark Karlin Editor, BuzzFlash at Truthout writes:

"CEO Pay Soars While Workers' Pay Stalls," a March 31 headlines announced in USA Today.
On April 2, BuzzFlash at Truthout took note that the jobs that are coming back for most Americans pay less and have fewer benefits, compared to the economy prior to the recession.
The USA Today article confirms that reality:

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 pre-recession 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....
The big increases in executive compensation are difficult for workers to swallow, given that many Americans are struggling just trying to find a job or make ends meet, says Alan Johnson of executive pay consulting firm Johnson Associates. "The fact this makes us all squirm is true."
Unfortunately, many national and state legislators who follow the siren song of the Koch brothers are not squirming; they are continuing to press for laws that enhance the gluttonous wealth of the richest in the nation, while devaluing the pay and benefits of American workers.
We are headed backwards to the type of European two-class system that existed prior to the American Revolution: the rich and the servant (labor) class. There's nothing "patriotic" about that.

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As Jim Hightower explains it, is that “the wealthiest 1 percent of Americans possess more net worth today than the bottom 90 percent of us combined. Worse, these privileged few and their political henchmen have structured a new economic ‘normal’ of long-term joblessness, low wages, no benefits or worker rights, miserly public services, and a steadily widening chasm between the rich and the rest of us.” We must restore sanity to this nation.