This article appeared online at TheNewAmerican.com on Monday, March 18, 2019:
The results of the survey on American CEO (chief executive officer) compensation released on Sunday by the Wall Street Journal aren’t likely to please progressives and socialists such as Bernie [Sanders] and Alexandria Ocasio-Cortez (AOC).
The Journal looked at total compensation being paid to the CEOs of 132 of the 500 companies making up the S&P 500 Index and reported that it reached $12.4 million in 2018, up from $11.7 million a year earlier.
Much of the compensation was driven by improved corporate profits and strong stock market performance that enhanced the value of their stock options. The Journal also reported that not every CEO got a raise: “Pay fell for 47 [of them], or about a third … and more than 10% for 22 of them.”
This isn’t likely to impress socialists and social-justice warriors who will likely use the Journal’s results to focus on some kind of “parity” calculation: comparing CEO compensation to the average guy driving a truck or working a line in a factory. Expect outrage over the disparity, and legislation to “fix” the “inequity.”
How does one justify anyone making a million dollars a month?