The top executives at large US companies are paid 278 times more than their company’s workers and the gap continues to widen, according to a study published Wednesday.
Average CEO compensation at the 350 largest US firms in 2018 was $17.2 million a year, including stock options, which generally account for two-thirds of their pay packages, according to a study by the Economic Policy Institute.
The gap between CEO and workers has soared from 58-to-1 in 1989 and 20-to-1 in 1965, according to EPI, a nonpartisan think tank that focuses on issues facing low- and middle-income workers.
From 1978 to 2018, CEO compensation has increased by more than 1,000 percent — with increasingly rich stock awards — while worker pay has risen just under 12 percent.
“This escalation of CEO compensation, and of executive compensation more generally, has fueled the growth of top 1.0% and top 0.1% incomes, leaving less of the fruits of economic growth for ordinary workers and widening the gap between very high earners and the bottom 90%,” the study said.
“The economy would suffer no harm if CEOs were paid less (or taxed more).”
And the study said the pay inflation “does not reflect rising value of skills, but rather CEOs’ use of their power to set their own pay. And this growing power at the top has been driving the growth of inequality in our country.”
Trump explains why he wants to buy Greenland to reporters: ‘It’s a large real estate deal — a lot can be done’
President Donald Trump reaffirmed his desire to buy Greenland in discussion with reporters Sunday.
The president was returning to Washington, D.C. when he stopped at the airport in Morristown, New Jersey. New York Times reporter Maggie Haberman asked the president about his desire to buy the country from Denmark.
"Greenland, I don't know. It got released somehow," Trump said of the news about his desire to buy the country. "It's something we talked about. Denmark essentially owns it. We're very good allies with Denmark. We protect Denmark like we protect large portions of the world. So the concept came up, and I said, strategically, it's interesting. And we'd be interested. We'll talk to them a little bit. It's not number one on the burner; I can tell you that."
‘They love the meanest parts of him’: Conservative writer explains why evangelical Christians stick with Trump
Ben Howe, a conservative writer and evangelical Christian who refuses to support Donald Trump, explained why fellow evangelicals continue to back the president despite his decidedly ungodly behavior.
Speaking with the Atlantic’s Emma Green about his new book The Immoral Majority, Howe — whose evangelical bona fides include attending pastor Jerry Falwell’s church as a kid — described evangelicals’ support for Trump, insisting “they love the meanest parts of him.”
‘Mental midget’ Stephen Miller absolutely demolished in MSNBC blast at Trump’s ‘misfit’ advisers
Given the opportunity to discuss two profiles on White House adviser Stephen Miller -- published by the Washington Post and the New York Times late Saturday -- Democratic consultant Don Calloway jumped in with both feet to trash the man he called a "mental midget"."
Asked p on MSNBC about the controversial Miller's outsized influence on Donald Trump, Calloway didn't hold back.
"What goes through your head when you hear how much influence Stephen Miller has on immigration policy?" host Alex Witt asked.
"Stephen Miller is a mental midget, that's the best thing I can say," Calloway began to the sounds of laughter offscreen.