The typical CEO of a company listed on the S&P 500 earned $18.8 million last year — up roughly 21% from 2021.
Meanwhile, people working full-time minimum wage jobs can’t afford a two-bedroom apartment anywhere in the United States.
Folks, this is what oligarchy looks like.
@rbreich 'Stocks traded, total value (current US$) in United States was reported at 23192148690000 USD in 2019, according to the World Bank collection of development indicators, compiled from officially recognized sources.
That's almost 232 trillion! So if stock trading was taxed at the meager rate of 1% that would bring in revenue of 232 billion per year!
Robert Reich
Marshal Grouchy