Wednesday, June 21, 2006

CEOs earn 262 times pay of average worker - Yahoo! News

There ought to be a law against this kind of ...well.... I am not sure there is a word for it.

We have endured "sin taxes' in this country for years. Why not a greed tax? After all, that one IS mentioned in the Bible. It is one of the 7 deadlies, as I recall.

CEOs earn 262 times pay of average worker - Yahoo! News: "NEW YORK (Reuters) - Chief executive officers in the United States earned 262 times the pay of an average worker in 2005, the second-highest level in the 40 years for which there is data, a nonprofit think-tank said on Wednesday.

In fact, a CEO earned more in one workday than an average worker earned in 52 weeks, said the Economic Policy Institute in Washington, D.C.

The typical worker's compensation averaged just under $42,000 for the year, while the average CEO brought home almost $11 million, EPI said.

In recent years, compensation has been a hot issue with shareholders who have been bombarded with news stories about chief executives who are given multimillion dollar bonus and pay packages even if shares have declined."

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