According to Republicans, we cannot afford to give working Americans a raise in the minimum wage because of the soft economy. Don't look now, but the same "soft" economy just raised median CEO compensation for 2013 to $10 million. A piece. And that's just the average. Some CEOs made much more than that.
the highest-paid CEO, Anthony Petello, of Nabors Industries, raked in $68.2 million, up 246% from 2012; the second highest-paid CEO, Leslie Moonves of CBS, got $65.6 million, up 9%; and the third-highest-paid, Richard Adkerson of Freeport-McMoRan Copper & Gold, got $55.3 million, up 294%. The CEO with the biggest pay jump was number-four-ranked Stephen Kaufer of TripAdvisor, whose pay jumped 510% to $39 million, followed by Sandeep Mathrani of General Growth Properties, whose pay of $22.1 million was up 424%.
In the mean time, rank and file workers' pay last year barely kept pace with inflation, rising a paltry 2.9%.
Still, the Speaker of the House would rather die than raise the minimum wage. Actually, to be honest, I think Boehner misspoke when he said that. Perhaps he was drunk. What I think he really means is that he'd rather poor people die than raise the minimum wage. His party in the Senate certainly acted to make that the reality. I think I know why. Every dollar that has to go to pay low wage workers cannot be nicely stuffed into CEO and other executives' compensation packages, packages the Speaker is only too happy to defend from being taxed, because... you know, job creators and such.
There is of course something coming up in a matter of months which will give Americans a chance to choose a side on this debate. What's that thing... oh, right, an election.