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MCGILLERT

"For small creatures such as we the vastness is bearable only through love."-- Carl Sagan
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Member Since: 8/2006Last Seen: 9/20/2009

CEO-worker pay ratio shoots up to 431 : 1

News Type: Other — Seeded on Tue Sep 5, 2006 6:41 AM EDT
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The ratio of average CEO pay (now $11.8 million) to worker pay (now $27,460) spiked up from 301-to-1 in 2003 to 431-to-1 in 2004.

If the minimum wage had risen as fast as CEO pay since 1990, the lowest paid workers in the US would be earning $23.03 an hour today, not $5.15 an hour.

The report found that CEOs are individually profiting from the Iraq War, with huge average raises at the biggest defense contractors.

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