Sunday, July 10, 2011

Income Gap Holding Back Economy

I heard an interesting story on NPR today about income inequality and its effect on the economy.  (Read it or listen to it here.)

It's the sort of story that makes my blood boil at the injustice and greed of the few, which is just accepted by the many.
...the current CEO of Dean Foods makes 10 times the amount the company's CEO did 30 years ago [he makes $10 million a year], the rest of the employees make on average 9 percent less than they would have in the 1970s, after you adjust for inflation.
So how do the employees feel about executive pay?
"They were resentful of it," says Whoriskey. "But for the most part, they were just trying to figure out how to get by. They honestly said they were just happy to have jobs."
People shouldn't have to be "just happy to have jobs," especially when CEOs are making more money than anyone could hope to spend in a lifetime.  People should have jobs that allow them to provide for their families and be happy.  It makes me even angrier when certain politicians are willing to risk our whole economy to protect the exorbitant earnings of such CEOs.  With that kind of money they can afford to pay a little more in taxes to avoid a government loan default.

When and how did we become so blinded that we started to believe that the greed of these ultra wealthy people is okay?  Here's a reality check for all those who say "This is America. One day I may be that wealthy, and when I am, I don't want to be taxed higher"... You are never going to be that wealthy, and even if you could be, the big question is should you be? My two cents says "no."

1 comment:

  1. Yes, I always wonder how these people look at themselves in the mirror in the morning.