Hartmann: Corporate CEOs have a secret they don't want you to know about...

Corporate CEOs have a secret they don't want you to know about...and that's how much money they're stealing from their workers. And Republicans are accomplices in the thievery. Last year - as part of the Wall Street reform bill passed by Congressional Democrats and signed by President Obama - there was a provision forcing corporations to disclose just how large the pay gap is between their CEOs and their average workers. As in how much more money the bigwig in the corporate office makes SITTING on his butt all year versus how much money the factory floor worker makes BUSTING his butt all year. The provision was included in hopes that if people knew just how gross the pay gap is between CEOs and workers - then maybe there would be more pressure to shrink it...as they say - sunlight is the best disinfectant. And today - outrageous corporate pay is infecting our economy.

Consider that back in the 1970s - CEOs made about 30 times more than their average worker - as in what they did was 30 times more valuable to the company than what other workers did. But since then - the numbers have exploded - and today - CEOs make as much as 400 times their average worker and in some cases on Wall Street - as much as 2,000 times the average worker. Can today's CEOs really justify that they are 2,000 times more valuable to the company than their workers? They can't - and that's why they don't want you to know how much money they're taking from their corporate treasure chest to pad their Armani pockets. And that's why - as soon as Republican took control of the House of Representatives at the beginning of this year - CEOs from 81 of the biggest corporations in America - including McDonalds - General Dynamics - and IBM started a massive lobbying effort to repeal the new CEO-pay disclosure requirement.

And when corporate CEOs talk - Republicans listen. Last week - Republicans did as they were told - and repealed the CEO pay disclosure provision in a party line vote in a House Committee.
--Republicans don't think you should know that while unemployment is hovering around 9% and average employee wages are sinking lower and lower - people like Phillipe Dauman made more than $84 million last year as the CEO of Viacom.
--Or that while nearly 50 million Americans languish in poverty - while Ray Irani of Occidental Petroleum made $76 million last year.
--Or that while more than 40 million Americans need food stamps just to eat - while Lawrence Ellison of Oracle made $70 million last year.
--Republicans don't want you to know that every $15 million dollars a CEO is paid for with a $1000 pay-cut to 15,000 workers.
--Or that every $30 million check cut to a CEO - could have instead hired 600 new workers - each making $50,000 dollars a year.

And these are the guys that Republicans call the "job creators" in America - the guys who'd rather stash $30 million in a Swiss bank account - where it will sit untouched collecting interest - rather than spend a dime employing one of the 25 million unemployed people around the nation. This is nothing more than stealing. These CEOs aren't job creators - they're stealing from the people who are the ACTUAL job creators - people like you and me who buy stuff. When the middle class in America has money - they buy stuff - and the more stuff they buy - then the more stuff needs to be made - and the more stuff that needs to be made - then more workers need to be hired. That's how an economy works. But giving a guy who's already worth a hundred million dollars - another hundred million dollars - won't create one damn job - and won't stimulate the economy at all. We need to start calling out the Republican Party for what they are - the wholly-owned Party of the rich CEOs - and not the Party for the other 99% of us.

Harry Truman knew this more than 60 years ago, when he said, "We have been working together for victory in a great cause. Victory has become a habit of our Party. It's been elected four times in succession, and I'm convinced it will be elected a fifth time next November. The reason is that the people know that the Democratic Party is the people's party, and the Republican Party is the Party of special interest, and it always has been and always will be."
Nothing's changed. It's time to shed some light on the wealth inequality in America - and expose greedy corporate CEOs for their blatant robbery of the American dream - and expose the Republican Party as their accomplices

Category:

News & Politics

Tags:

• Thom Hartmann
• Big Picture
• theBigPictureRT
• RTAmerica
• RT America
• Harry Truman
• CEO
• corporations
• taxes
• job creators
• unemployment
• Ray Irani
• Occidental Petroleum
• Lawrence Ellison
• Oracle
• food stamps

[rickbar123]

The good old GOP, fucking the worker anyway they can.

Keep them office stupid America. Stupid has a price.

[Textynn]

We have a system in which businesses are allowed to pay their employees less than a living wage and the difference is made up by taxpayers in the form of food stamps and other services. In other words, Walmart employees don't make enough to live on so they must be helped. This system means taxpayers are subsidizing Walmart's bottom line. Our government should be demanding living wages but they would rather serve Walmart.

[ZatDudeOnline]

I hope we have a nuclear war, then perhaps the world can get the reboot it desperately needs. Currently there is NO way to reboot this horrible system we have built around wealth and its pursuit.

[MUDSHARK111]

@vechorik it does not mean he wont cut food stamps it just wont be his top priority .ron paul looks good in little sound bites but the more you scrutinise him the more you realise he is a hard core conservative.and conservatives are never ever good for all .

[Lightmane321]

AWESOME Thom. Now if only we had a real Progressive President who would fight against this evil. I'm not holding my breath

[vechorik]

The only 2012 presidential candidate that won't cut food stamps?

Ron Paul “I Don’t Think Cutting Food Stamps For The Poor Is The Right Priority”

Check him out!

[dwschultzfla]

Unemployment increases again. Better news the Bureau of Labor Statistics has changed the way numbers are reported so the current unemployment of 9.2% should be at 9.4%. No more Obama!!!!!

Help fight poverty. Vote Obama out in 2012!!!

[JennJenification]

@SpencerMoseley Nice jab, but I don't smoke pot. Back to the point(s)...r u telling me working class tax payers DON'T pay into soc. progs. that keep the working class afloat? r u saying min. wage has risen to any degree even CLOSE to inflation in several years? Are u saying CEO's DON'T make exponentially more than before, non proportional to their employees, who keep their businesses going? r you saying G.E. DID pay taxes last year?? r u saying corp taxes AREN'T passed on through sales tax??

[cmfluteguy]

Thom Hartman is working for the LIE PIG li CONS and his own pocket book

He sells gold 100 times a day and whores his own books at every chance.

His "debates" with neocon types are pathetic.

Hi expounds on all sorts of subjects with no knowledge whatsoever.

[SpencerMoseley]

@harveybirdmannequin CEO Pay is already disclosed by law. the compensation package is voted on by the shareholders.

[SpencerMoseley]

@harveybirdmannequin already is by law. private companies do not need to disclose.

[CLEVELTECH]

“These CEOs are not job creators,” he said. “They’re stealing from the people who are the actual job creators: people like you and me, who actually buy stuff.”-quote