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Executive PayWatch: Rich CEOs get richer, unlike the rest of us
“The average CEO earns 287 times what an average employee earns,” said AFL-CIO Secretary-Treasurer Liz Shuler. “This disparity represents a fundamental problem with our economy: Productivity and corporate profits are through the roof, but wages for working people are flat — and staying flat.”
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What’s worse, as Shuler pointed out, while rich executives rake it in, these corporations and their executives are paying less and less in taxes to support the public services and infrastructure that their companies rely upon to make their profits.
Here are some key points from the Executive Paywatch report:
$14.5 Million: S&P 500 CEOs’ average 2018 compensation.
287:1: The average S&P 500 CEO-to-worker pay ratio.
$5.2 Million: Increase in the average S&P 500 CEO’s pay over the past 10 years, a raise of more than half a million dollars annually.
$7,858: Increase in the average U.S. rank-and-file worker’s pay over the past 10 years, a raise of less than $800 per year annually.
$93 Billion: Decrease in corporate income tax collections following the passage of the 2017 GOP tax cut, a 31% drop for FY 2018.
$0: Federal income taxes paid by 60 of the largest U.S. companies in 2018 despite being profitable. This list includes corporations like Amazon, Activision Blizzard and Delta Airlines.
You can view the full report, including state-by-state data, here.