2021 should have been a banner year for American workers. Gross Domestic Product soared at a 5.7% annual rate, "the strongest pace since 1984." The unemployment rate dipped below 4%. And wages and salaries increased by 4.5%, "the fastest increase since 1983
What's really amazing to me is how Republicans (and their corporate shills) have completely convinced American workers that the current situation is actually not their (the Republicans' and corporations') fault.
As usual the race to a wider gap between CEO pay and the pay for the workers who actually do the work that generates profits has been getting worse for workers since the Reagan era. Reagan was the worst president of the 20th century. His attack on unions and tax cuts for the 0.01% are still a problem today. It’s illogical that he’s still revered as a “great” president. He wasn’t.
I hope Biden or someone from the admin sees your article Judd. These CEOs need a good strong lecture from Dan Price (Seattle) who raised every worker to a $70k minimum while greatly reduced his own salary. A real success story.
Now more than ever we need Unions for workers. Clean Unions, with leadership that comes from the ranks of the workers. It’s true that unions took a hit when the likes of Jimmy Hoffa was the leader of the Teamsters. But now the best way to get equitable pay is to organize. With binding arbitration as part of the process it could be a game changer.
These blog posts are great for reposting, Judd. Thank you for doing this work. Because of my own work, I used to hesitate to "be political." I've totally changed my mind about that, though, because I write about the well-being of people from all walks of life. This is precisely part of my work and not to share it would be nonsensical! Keep it up!
Gelles' book, piece in NYT clearly shows how companies - GE in spades - went from producing products to "rank and yank", put profits over products. It's time to return to people over profits. Neutron Jack was the poster boy for corporate greed. Thanks for shining the light on CEO pay disparity with workers. Keep it up, Judd!
There are so many things a President cannot do unilaterally, but at the federal level he has immediate options available to him. Real change takes a long time, but pockets of change (sorry/not sorry) with immediate, positive impact on huge numbers will keep people believing. Instead we’re mired in debate about forgiving student loans (a slogan just as damaging as defunding the police IMO) and other things damaging or at least unflattering to the Ds. Even the steps he’s taken to get the solar industry back on track are controversial. We need to get back to the basics of why we voted for Biden and hit them home. Unrelated to Judd’s topic, but some Ds are fighting. Check out Warnock’s campaign spot.
Well, I hope no one's holding their breath for Biden to do anything much beyond his flagship policy he got thru last year, the infrastucture bill. Beyond that initiative, he seems lethargic. Children, this is what hapns when you let the elderly innovate modern solutions. Just like we wouldn't let a teenager run the country, it's obvious we need to limit the age of being POTUS to say, 70.
Also, this country needs term limits for House & Senate where everything isn't about donations, lobbyists, and re-election campaigns. The incentive--by design--is corruption.
Another possible strategy is to encourage more employee ownership, even at S&P 500 companies. That could potentially give workers a voice on the board, especially if they can form alliances with public pension and other worker friendly funds. See https://www.corpgov.net/2022/01/corpgov-net-2021-review-looking-forward-to-2022/ for something of my efforts in this area.
Judd got it completely wrong. Prior to raygun, the IRS taxed corporate income at ~80% so companies would rather put the cash into capital upgrades and salaries to reduce their tax rate. After raygun reduced corporate tax as well as allowing CEOs to take stock in lieu of bonuses, greed traded its ugly head. Welsh was one of many who stuffed the corporate compensation board so that the cash, that would have gone to employees or capital improvements, went to the top managers. Corporations were not woke in the fifties but pragmatists avoiding taxes.
Yes, the challenge is to somehow break through the noise and get the general public to understand what's happened to the middle class over these last 4 decades.
I love that idea of Biden giving preference for contracts to companies where the CEO-worker pay ratio is 100 to 1 or less. Let’s spread that notion so it becomes a reality! Spread with word and take action on it!
What's really amazing to me is how Republicans (and their corporate shills) have completely convinced American workers that the current situation is actually not their (the Republicans' and corporations') fault.
As usual the race to a wider gap between CEO pay and the pay for the workers who actually do the work that generates profits has been getting worse for workers since the Reagan era. Reagan was the worst president of the 20th century. His attack on unions and tax cuts for the 0.01% are still a problem today. It’s illogical that he’s still revered as a “great” president. He wasn’t.
I hope Biden or someone from the admin sees your article Judd. These CEOs need a good strong lecture from Dan Price (Seattle) who raised every worker to a $70k minimum while greatly reduced his own salary. A real success story.
Now more than ever we need Unions for workers. Clean Unions, with leadership that comes from the ranks of the workers. It’s true that unions took a hit when the likes of Jimmy Hoffa was the leader of the Teamsters. But now the best way to get equitable pay is to organize. With binding arbitration as part of the process it could be a game changer.
These blog posts are great for reposting, Judd. Thank you for doing this work. Because of my own work, I used to hesitate to "be political." I've totally changed my mind about that, though, because I write about the well-being of people from all walks of life. This is precisely part of my work and not to share it would be nonsensical! Keep it up!
Gelles' book, piece in NYT clearly shows how companies - GE in spades - went from producing products to "rank and yank", put profits over products. It's time to return to people over profits. Neutron Jack was the poster boy for corporate greed. Thanks for shining the light on CEO pay disparity with workers. Keep it up, Judd!
Excellent issue to publish, showing the wide benefit to everyone of a low wealth differentiation society.
Great reporting. Thanks!
There are so many things a President cannot do unilaterally, but at the federal level he has immediate options available to him. Real change takes a long time, but pockets of change (sorry/not sorry) with immediate, positive impact on huge numbers will keep people believing. Instead we’re mired in debate about forgiving student loans (a slogan just as damaging as defunding the police IMO) and other things damaging or at least unflattering to the Ds. Even the steps he’s taken to get the solar industry back on track are controversial. We need to get back to the basics of why we voted for Biden and hit them home. Unrelated to Judd’s topic, but some Ds are fighting. Check out Warnock’s campaign spot.
Well, I hope no one's holding their breath for Biden to do anything much beyond his flagship policy he got thru last year, the infrastucture bill. Beyond that initiative, he seems lethargic. Children, this is what hapns when you let the elderly innovate modern solutions. Just like we wouldn't let a teenager run the country, it's obvious we need to limit the age of being POTUS to say, 70.
Also, this country needs term limits for House & Senate where everything isn't about donations, lobbyists, and re-election campaigns. The incentive--by design--is corruption.
Just blows the mind!
The only thing that is going to work is to once again place onerous tax rates on the top 1%.
Another possible strategy is to encourage more employee ownership, even at S&P 500 companies. That could potentially give workers a voice on the board, especially if they can form alliances with public pension and other worker friendly funds. See https://www.corpgov.net/2022/01/corpgov-net-2021-review-looking-forward-to-2022/ for something of my efforts in this area.
Judd got it completely wrong. Prior to raygun, the IRS taxed corporate income at ~80% so companies would rather put the cash into capital upgrades and salaries to reduce their tax rate. After raygun reduced corporate tax as well as allowing CEOs to take stock in lieu of bonuses, greed traded its ugly head. Welsh was one of many who stuffed the corporate compensation board so that the cash, that would have gone to employees or capital improvements, went to the top managers. Corporations were not woke in the fifties but pragmatists avoiding taxes.
Yes, the challenge is to somehow break through the noise and get the general public to understand what's happened to the middle class over these last 4 decades.
I love that idea of Biden giving preference for contracts to companies where the CEO-worker pay ratio is 100 to 1 or less. Let’s spread that notion so it becomes a reality! Spread with word and take action on it!
Great idea!