Major Corporations To Hide Income Disparity

Aaron Cynic writes at Diatribe Media:

A group of 81 major corporations believe that public knowledge of what their CEOs make in respect to the average worker is “useless” information. The Washington Post reports that more than a year ago (H/T Alternet), some of America’s biggest corporate movers and shakers began lobbying Congress to force changes to the Dodd-Frank Wall Street Reform and Consumer Protection Act, so companies needn’t bother disclose the wage gulf between executives and workers. A House committee approved the bill 33–21.

Rep. Nan A.S. Hayworth (R-NY), who sponsored The Burdensome Data Collection Relief Act (HR1062), said comparing a CEO’s wage to the average worker could “mislead or confuse investors” and that such a comparison “creates heat but sheds no light.” Tim Bartl, senior vice president and general counsel for the Center on Executive Compensation asked “You can already tell where a CEO falls relative to his peers, you can already tell where he falls relative to the average worker in the industry. What is this number going to tell us?”

That comparison tells Americans quite a bit, actually.

CEO’s of major corporations currently make about 263 times what the average worker makes. In 2008, the top 0.1 percent of earners raked in 10 percent of the total income of American workers. The pay of the average woman or man on the street hasn’t seen an increase when adjusted for cost of living since the 70′s. The idea that “the rich get richer” became a truism long ago.

Read the full post at Diatribe Media

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  • Scarlett_156

    So… everybody’s supposed to make the same wage…?  O.o

    • Jin The Ninja

      No genius, it’s about income PARITY. as in a ceo should not make so much that it would take the avg worker 35k years to accumulate the same wealth (Source: http://www.alternet.org/economy/151569/how_dracula_hedge_funds_are_sucking_us_dry_/ )

      and Yes- in a just and fair world (one that does not exist as of yet) people would be in charge of their own means of production or an equal member of a syndicate/union that determines labour cost. It’s called democratisation of the workplace.

      • Hadrian999

        don’t count on ever seeing that happen, in the modern workplace workers are just another raw material to be bought at the lowest price possible that will still get you an acceptable level of quality and thrown away when not needed, workers are all too willing to stab each other in the back for table scraps. skilled workers are a dieing breed, ask anyone who has worked in manufacturing more than 20 years what the skill level of recent hires is like. tasks have been broken down and compartmentalized so that they can be quickly taught to anyone off the street effectively breaking the power of labor, they are no better than serfs now.

        • Jin The Ninja

           Oh i completely agree with everything you just said. I though, still retain hope for a more egalitarian and just world- whether it is in my lifetime or a future away.

        • twocents

          “things will never change”

          how insightful.

          • Hadrian999

            not working inside the system or playing nice, working your way up is a convenient myth, for a brief period you could make a good living in manufacturing, in the united states those days are over, in business today you are either a lord or serf, acting as a serf no matter how hardworking of smart or loyal you will never become a lord. unless you make something that is your own(or manage to take it from someone else) you will never be free. things do change but they are rarely on the side of workers

    • Andrew
    • MoralDrift

      There is no conceivable reason for the wages that some of these high level executives make. Are there services really worth that much?

      • Guest

        Do high level executives provide any service?

      • Hadrian999

        there is no such thing as deserve, there is only what you can take and hold, labor has very little ability to make any kind of demands and be able to back them up. i have seen it first hand, i live in an area that was once a blue collar manufacturing town but it is going down the toilet as the big employer is moving jobs to places that accept lower wages outsourcing work to non union contractors, this has a very impact on the area, much less money floating around even businesses not related to manufacturing are failing. american manufacturing has lost and it was all made possible by the government both parties are to blame.

    • Yellow hundred bill

      I hope she just trolled us:P I think  people should earn money to buy certain non essential things at will and earn a different budge for the basics. Divide products by class and their use and divide money to have different kinds of bills for different classes of items, so if you have money for food you cant spend it on other things and vice versa or something in between (raw idea still needs refining). high priced Luxury houses and other luxury items like cars and boats and private jets and such should be given as recognition of great accomplishments and not be quote n quote worth cash but have to be genuinely  earned and voted on by the local community (and have a certain number of them constantly built to accommodate and stimulate such achievements) like a trophy but not lame like a trophy. Like I have a knife collection and I really only need one, but i keep getting them from people because I am a handy person and can use a blade to do quick fixes and such other knife duties efficiently due to my dexterity, so I earn them not with cash but as trophies for my finger dexterity and as possibly a symbol for my sharp mind :P. I think it will be a check to stop people from over spending on one area of life over the other and eliminate people that play the money game to get such big ticket items without any real accomplishment to accompany it. anyways raw idea still needs details. 

  • http://twitter.com/xRedRoverx Kristi

    So… everybody’s supposed to make the same wage…?  O.o

  • http://profiles.google.com/saintzedofourlostyouth R Z

    No genius, it’s about income PARITY. as in a ceo should not make so much that it would take the avg worker 35k years to accumulate the same wealth (Source: http://www.alternet.org/economy/151569/how_dracula_hedge_funds_are_sucking_us_dry_/ )

    and Yes- in a just and fair world (one that does not exist as of yet) people would be in charge of their own means of production or an equal member of a syndicate/union that determines labour cost. It’s called democratisation of the workplace.

  • Andrew
  • Anonymous

    There is no conceivable reason for the wages that some of these high level executives make. Are there services really worth that much?

  • http://hormeticminds.blogspot.com/ Chaorder Gradient

    Well if they don’t have to show their income gaps, then they don’t have to worry about people finding their income to be orders of magnitude greater in the future…

  • http://hormeticminds.blogspot.com/ Chaorder Gradient

    Well if they don’t have to show their income gaps, then they don’t have to worry about people finding their income to be orders of magnitude greater in the future…

  • Hadrian999

    don’t count on ever seeing that happen, in the modern workplace workers are just another raw material to be bought at the lowest price possible that will still get you an acceptable level of quality and thrown away when not needed, workers are all too willing to stab each other in the back for table scraps. skilled workers are a dieing breed, ask anyone who works has worked in manufacturing more than 20 years what the skill level of recent hires is like. tasks have been broken down and compartmentalized so that anyone can be quickly taught to anyone off the street effectively breaking the power of labor, they are no better than serfs now.

  • Ghandi

    Book about the benefits of a more equal wage across different countries
    Called  ” the spirit level ”
    https://www.amazon.co.uk/Spirit-Level-Equality-Better-Everyone/dp/0241954290/ref=sr_1_2?ie=UTF8&qid=1310263884&sr=8-2

    well worth a read, (esp policy makers)

  • Ghandi

    Book about the benefits of a more equal wage across different countries
    Called  ” the spirit level ”
    https://www.amazon.co.uk/Spirit-Level-Equality-Better-Everyone/dp/0241954290/ref=sr_1_2?ie=UTF8&qid=1310263884&sr=8-2

    well worth a read, (esp policy makers)

  • KxBk6U

    If the information is useless, then there’s no reason to not make it available. They must know that it would be useful to someone or they wouldn’t want to keep it hidden. I’d like to hear Rep. Haywort’s explanation of how the information might be misleading or confusing.

  • KxBk6U

    If the information is useless, then there’s no reason to not make it available. They must know that it would be useful to someone or they wouldn’t want to keep it hidden. I’d like to hear Rep. Haywort’s explanation of how the information might be misleading or confusing.

  • Randol

    Fuck the “investors.”

  • Randol

    Fuck the “investors.”

  • http://profiles.google.com/saintzedofourlostyouth R Z

     Oh i completely agree with everything you just said. I though, still retain hope for a more egalitarian and just world- whether it is in my lifetime or a future away.

  • bobbiethejean

    Your CEO may be making between 400 and 1500 for every 1 dollar you make if you live in America.  

  • http://www.facebook.com/people/Bobbie-Jean-Pentecost/100000391760333 Bobbie Jean Pentecost

    Your CEO may be making between 400 and 1500 for every 1 dollar you make if you live in America.  

  • http://www.facebook.com/people/Bobbie-Jean-Pentecost/100000391760333 Bobbie Jean Pentecost

    Your CEO may be making between 400 and 1500 for every 1 dollar you make if you live in America.  

  • Yellow hundred bill

    I hope she just trolled us:P I think  people should earn money to buy certain non essential things at will and earn a different budge for the basics. Divide products by class and their use and divide money to have different kinds of bills for different classes of items, so if you have money for food you cant spend it on other things and vice versa or something in between (raw idea still needs refining). high priced Luxury houses and other luxury items like cars and boats and private jets and such should be given as recognition of great accomplishments and not be quote n quote worth cash but have to be genuinely  earned and voted on by the local community (and have a certain number of them constantly built to accommodate and stimulate such achievements) like a trophy but not lame like a trophy. Like I have a knife collection and I really only need one, but i keep getting them from people because I am a handy person and can use a blade to do quick fixes and such other knife duties efficiently due to my dexterity, so I earn them not with cash but as trophies for my finger dexterity and as possibly a symbol for my sharp mind :P. I think it will be a check to stop people from over spending on one area of life over the other and eliminate people that play the money game to get such big ticket items without any real accomplishment to accompany it. anyways raw idea still needs details. 

  • Caelidh

    they always use the “investors” as a threat… because honestly.. many of us DO have investments in these companies via our 401K’s and IRA etc… so.. then they allege that we are only harming ourselves if we attack them.. isn’t that a pile of BS????? 

  • Caelidh

    they always use the “investors” as a threat… because honestly.. many of us DO have investments in these companies via our 401K’s and IRA etc… so.. then they allege that we are only harming ourselves if we attack them.. isn’t that a pile of BS????? 

  • Mr Willow

    Do high level executives provide any service?

  • http://voxmagi-necessarywords.blogspot.com/ VoxMagi

    Yeah…the guy who doesn’t know a puff adder has crawled into his sleeping bag is happier in his ignorance too…but it ends just about as well as this.

  • http://voxmagi-necessarywords.blogspot.com/ VoxMagi

    Yeah…the guy who doesn’t know a puff adder has crawled into his sleeping bag is happier in his ignorance too…but it ends just about as well as this.

  • twocents

    “things will never change”

    how insightful.

  • Hadrian999

    not working inside the system or playing nice, working your way up is a convenient myth, for a brief period you could make a good living in manufacturing, in the united states those days are over, in business today you are either a lord or serf, acting as a serf no matter how hardworking of smart or loyal you will never become a lord. unless you make something that is your own(or manage to take it from someone else) you will never be free.

  • Hadrian999

    there is no such thing as deserve, there is only what you can take and hold, labor has very little ability to make any kind of demands and be able to back them up. i have seen it first hand, i live in an area that was once a blue collar manufacturing town but it is going down the toilet as the big employer is moving jobs to places that accept lower wages outsourcing work to non union contractors, this has a very impact on the area, much less money floating around even businesses not related to manufacturing are failing. american manufacturing has lost and it was all made possible by the government both parties are to blame.

  • Mackenziecolt

    actually prior to the original act requiring disclosure CEO’s did not make nearly as much. Once they saw what other CEO’s were making, they demanded more money, and salaries greatly increased. -source Business Association Class in Law School USD

  • Mackenziecolt

    actually prior to the original act requiring disclosure CEO’s did not make nearly as much. Once they saw what other CEO’s were making, they demanded more money, and salaries greatly increased. -source Business Association Class in Law School USD

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