From 1978 to 2022, CEO pay grew by 1,209% while the typical worker's pay rose just 15%.
This explosion in CEO pay relative to the pay of average workers isn’t because CEOs have become so much more valuable than before.
They've just gamed the system to line their pockets.
@rbreich “Wells Fargo to lay off more workers from its West Des Moines campus as CEO comp rises”
“On the same day that Wells Fargo shareholders voted to increase CEO Charlie Scharf’s 2023 compensation package by $4.5 million, the company announced another round of layoffs at its Jordan Creek campus in West Des Moines.”
Robert Reich
Scott Miller 🇺🇦 🇺🇸