Daphne Dijkerman
Robert ReichThe CEO-to-worker pay gap is now 351-to-1. In 1965, the ratio was 21-to-1. Trickle down economics is nothing more than a cruel hoax designed to enrich bankers and wealthy executives.
Nanook-of-the-North
Koochulainn@rbreich Gush up/Trickle down
BigEarl ☕@rbreich
Agreed, this 'experiment' has proven to be severed chicken heads and pins in dolls
Agreed, this 'experiment' has proven to be severed chicken heads and pins in dolls
J🍩hn Fünk@rbreich I mean, yeah, it kind of sucks for now. But since I'm a temporarily embarrassed millionaire, someday I'll be glad things are the way they are.
/s
Sallyhassoup@probablyjohnfunk @rbreich gotta love that false class solidarity lol
Laura says
chum paentro 
@rbreich maybe they work 350 times harder. If it's a white collar job maybe they type 350 times faster?
PaulMcC631@rbreich it’s so sad.
Kevin Ashworth ☑️@rbreich Tax changes to salaries over $1M didn’t seem to make a difference. Would it be possible (legal) instead to tie maximum salary to a multiple of the company’s lowest wage? If the lowest paid employee makes $40k and the legal multiple is 50, the CEO can make $2M. Any higher salary for CEO leads to a raise for the guy making $40k too.
raboof@kevinashworth @rbreich wouldn't they simply fire the people in low-paid positions and have those tasks performed by companies that provide them 'as a service'?
Sounds like such a measure would lead to quite some costs to enforce and cause inefficiencient behaviour since it gives companies incentive to game the system.
I'm not very into economics, but shouldn't we as customers prefer coops more strongly? Wouldn't those be more likely to make balanced decisions?
@raboof @rbreich I'm sure some companies would start doing stuff like that. My idea is not fully fleshed out! And, yes, I like coops. Here's one: https://drivers.coop/
Ted
@rbreich Apologies to all, this was supposed to be a gif of ol' Scrooge McDuck joyfully swimming in his billions. Still getting used to #Mastadon #TheOnePercentAreAnAppendix
Ashantin@rbreich At last someone with a grip of this issue.
Bc Clarity Carlton-Martin@rbreich Gilded Age now with "SEC bitcoins" about to drop and disturb hedge funders securities(sic) yeah, the elite are above US in all aspects of planetary equity.
@rbreich
Hasn't delivered what was promised, for sure. What trick/les down are the toilets of exec offices & penthouses on the ppl below.
Hasn't delivered what was promised, for sure. What trick/les down are the toilets of exec offices & penthouses on the ppl below.
Strappo Hughes@rbreich we wouldn’t have MAGA if the discrepancy weren’t so extreme and the game weren’t rigged to favor of the oligarchs and financiers.
Andy Burge@rbreich Damn right!
@rbreich Maybe CEOs were undervalued in 1965. Do you think an assembly-line worker could run General Motors? It’s not easy to gauge how valuable/replaceable an executive is to a company. I do think that the wealthy should be taxed more, though.
syfy@rbreich Seems like "the world" is controlled by whichever billionaires live in whatever patch they inhabit. Not gonna change. The trickle down is from the billionaires to the millionaires and finally to the 100,000aires?
Zhi ZhuTrickle down does NOT work.
It never has.
TRICKLE DOWN IS A LIE that rich people pay politicians to tell as an excuse for letting rich people avoid paying their fair share of taxes.
Bernardo Anderson@rbreich This is the statistic that Democrats should run with and say they will fight to fix it.
@rbreich Could you please share the source?
Hubbub - Vera 🕊️🇪🇺@rbreich
"Trickle-down theory the less than elegant metaphor that if one feeds the horse enough oats, some will pass through to the road for the sparrows."
John Kenneth Galbraith.
(The Rag Pickers - Paris 1920)
Awesomerrificus.eth@rbreich man, that “invisible hand” is doing just dandy.
JenQuests@rbreich It works as well as giving one of your dogs two treats and telling him to take one to his sister.
Truman Esmond@rbreich I think it’s just now American capitalist economics that is the sham played upon the people, how to eat your own to success, training individuals to step on or over others to get there, while CYA and stifling true innovation. Trickle down is long gone as a brand or policy tactic. But I’m no economist, just a guy watching it fall apart while those in power continue to profit off no change and the end in ever-clearer focus. What will $$ be worth then? What will the residual value be?
@rbreich as an economist would you agree that it’s not entirely true. What is true most of the trickle down effect didn’t show up in US communities but in other parts of the world
@rbreich I have been pointing this out for so many years. When the upper middle class feels disenfranchised and worried it's a downward spiral.
Loren Rodgers@rbreich deserves huge credit for keeping this issue alive! But every time I read about income inequality, I feel like we're neglecting an even bigger elephant in the room: wealth inequality. Especially when we know what works: #employeeownership
Stu Duerson, machina exo deus@rbreich Don't trickle down my back and tell me it's raining? Billionaire Disease is incurable, without legislation. We cannot change the vector with opinion or shaming...it will take a new Trust Busting Era, and re-instituting an actual progressive taxation system.
DeeKat@rbreich I just figured out that Growth economics is a Ponzi scheme... Just had to put that somewhere. We have the resources and wealth to feed and shelter everyone on earth. We just instead choose not to and instead to hoard wealth.
terrathul@rbreich CEO pay exploded after regulators decided to cap CEO pay, which lead to boards finding other ways to reward high performing executives, landing on stock options.
Giles Edwards@rbreich Part of me wishes to apportion blame to those who continue to vote for those who advocate it.
Steve Griffin - #FairUCNow@rbreich What was it before trust-busting?
Len Northfield@rbreich Are there more or fewer businesses now? Are they bigger than they were? Are there more or fewer people identifying as CEO? It’s certainly a scam, but it’s a complex one that’s gaslighting most of us.
Andy Bullock@rbreich on the fence here. As a site leader I deal with tasks and queries that are at my pay level. I've had conversations with people who are considered senior management, and I've asked them to grow their influence and they've declined. The shop floor team members are of a similar opinion, deadlines and targets aren't major to them. The end of the shift is the end of the shift. Where I'll do what's needed, and I'm paid accordingly. I'll gladly pay if I get benefits from it
Michel Verschuren@rbreich tax the rich
Shadow Heart@rbreich and society has been conditioned to care about corporate profits and the rich growing their wealth regardless of the social damage it causes. CEOs shouldn't get a free pass they should answer for their crimes against the communities they destroy.
Hal Brown@rbreich Qu'ils mangent de la brioche
@rbreich Yes, I entirely agree but this truth is well hidden to the general public.
Edwinek 🌍@rbreich kick down economics more like...
Big Head Tales@rbreich
Trickle Down worked exactly as it was designed by the Republicans.
Trickle Down worked exactly as it was designed by the Republicans.
ezra 
@rbreich as someone who uses "351" as an alias, sorry my fault working on fixing that
Rudini 
@rbreich what's a good comparison Sir?
BuddhaBearAnd you helped....
schoolingdiana@rbreich It’s a very short term emergency stop gap that depends on CEOs being as ethical as Lee Ioccocca. Do we have any left who’d volunteer to take $1 a year as a salary until things come around? I don’t think so. When the unethical end up being the new generation of CEO, government must step in, since governments only exist to better the lives of their citizens. #CEOs #econodon #politicalscience #LeadershipEffectiveness #trickledowneconomics #CorporateEthics
Patricia Abraham@schoolingdiana @rbreich republicans don’t protect workers just the CEO’s:/
Kathy Carbone@schoolingdiana @rbreich Governments SHOULD exist for bettering the lives of ALL their constituents. I think the nation is finally getting an inkling that is not why the GOP exists. And CD even the Dems could do better…but I must give President Biden kudos for what he’s done so far.
Andrew Golubev@rbreich where did you get these data?
Timothy Swan@rbreich this is what people should be clamoring for when they talk about the good old days. Well, this, and higher tax rates for the rich.
costrike
ScottMann@rbreich Will Rogers, who originated the term, as a joke? Would have thought so. Given everything, given what it probably really means? It's crude, & reflects the attitudes of those who use it freely, towards the people that keep them, in business.
@rbreich So happy to see you on Mastodon. You are an amazing source of exper and common sense information!!
Kudra 
Maxelcat@rbreich is there really anybody who does think it works???
Limited For No Good Reason@rbreich I fail to see how CEO salaries and trickle-down economics are at all related. Please expound?