The other day I wrote about pay rises for workers. 75% of non-union workers took a pay cut last year. Seems their bosses made off a lot better.
Despite all the business collapses and the 21,000 lost jobs, half of all CEOs got a pay rise last year and the typical pay rise was a massive 5% (only 10% of workers got a 5%+ way rise).
You’ve just got to look at Paul Reynolds, Craig Norgate, and Rob Fyfe – CEOs who have managed their companies into the ground and made off with mega-bucks.
The typical CEO makes $300,000, yet we seem to get very little from this class. Mis-management seems to be the norm.
Of course, the right-wing Randian myth is that we have to pay these people so much because they ‘create’ wealth and jobs (using magic?), and we need to continue to bribe off these people with huge pay rises and tax cuts – the average CEO will bag $11,500 with the top rate cut – because otherwise they’ll leave us.
The reality is that this is class war: even in a recession, the capitalist class gets pay rises and tax cuts, while the workers get pay cuts and redundancies.