In America, the median CEO salary is 354 times more than the average employee’s salary. Which means on Jan 1, the average CEO earned as much as most workers will earn all year.
69% of Americans have no savings…
According to 2017 data, 35% of Americans have less than $1,000 in the bank and another 34% have no savings at all. Only 19% have $5,000 or more saved.
25% of homeless people are homeless simply because they lost their job.
If you lost your income, how long would your savings last?
How Wealth is Divided up in America…
According to a report on data from the Congressional Budget Office…
—The top 10% of families hold 76% of the wealth.
— The remaining families in the top 50% hold another 23% of wealth.
— Which leaves 1% of American’s wealth for the bottom 50% to share.
We Can’t All Be CEO’s…
The Fortune 500 companies employ 27 million people. Doesn’t matter who’s at the top, there’s still an imbalance. Fire the CEO and he gets a hefty package on his way out the door. Fire the worker and he or she is likely going to be sleeping in their car within 3 months if another job doesn’t materialize.
Take some random worker off the floor and make them the CEO and there’s still thousands of people not earning enough to save for a rainy day.
Cost of Housing is a big part of the problem…
In New York, the wage required to comfortably rent a one bedroom is $27.29/hr. In L.A., $22.98. Here’s the top 10 minimum wages in the USA…
1. Washington D.C — $12.50/hr
2. Washington — $11.50/hr
3. California (Tie) — $11.00/hr
4. Massachusetts (Tie) — $11.00/hr
5. Arizona (Tie) — $10.50/hr
6. Vermont (Tie) — $10.50/hr
7. New York — $10.40/hr
8. Colorado — $10.20/hr
9. Connecticut (Tie) — $10.10/hr
10. Hawaii (Tie) — $10.10/hr
“Taxing the rich” isn’t a solution…
We hear that a lot. Tax the rich, tax the rich. Tax dollars don’t reach the people that need it. About 9% of the federal budget supports programs that provide aid — other than health insurance or Social Security — to individuals and families facing hardship.
Politicians are paid for life…
A member of the senate is among the lowest paid, at $174,000/year. Once they leave, they get 10% of their salary for life. So Americans are still paying every single person who’s held that position for the duration of their life.
More than 16 million children live in poverty in America…
The physical, social and emotional factors associated with living in poverty have a detrimental effect on kids’ cognitive performance. We pretend we don’t have a class/caste system, but the odds of those kids becoming the CEO are abysmal. And we wonder why so many young people are angry?
What’s the solution?
I’ve no freaking idea. That’s why it makes me angry. It’s a huge systemic problem and the very people we’ve entrusted with solving the problem are the ones perpetuating it.
Blah. If you made it here, thanks for reading.