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From Robert Reich:
We’re now in the America’s second Gilded Age.
Last week it was reported that in 2017 the average CEO of the 350 largest firms in the U.S. received $18.9 million in compensation. That’s a 17.6 percent increase over 2016.
At the same time, the typical worker’s compensation remained flat, rising merely 0.3 percent.
The first Gilded Age fueled a progressive era that tamed and regulated its excesses, beginning in 1901.
6 Members of Walton Family Have More Money Than The Bottom 30% of Americans
When you consider how these folks have gotten this obscenely rich it is past obscene. They have built this wealth off exploiting their workers, small businesses, cheap foreign labor, attacking the middle class, and generally turning us into a LCD (lowest common denominator) society. Have I mentioned that they hate puppies, apple pie, and the American way?
Just a few of things I can think of off the top of head:
Wal*Mart has consistently underpaid its workers. This is especially troubling as they are the largest private employer in the United States, employing some 2.2 million souls as of the latest data. To give some perspective, the Federal government employs 2,823,777 which include 296,628 part-timers. If you total up the employment of all 50 state governments you come up with 4,283,597 FTEs. The next closest private employer to Wal-Mart, IBM, employs 436,000.
See chart below for listing of the top 10 private employers in the U.S.A. Continue reading “Occupy Wal*Mart”