Happy May Day!

Happy May Day! May 1, 2015

May 1st is International Workers’ Day. It seems like the United States may be closer to being ready to actually celebrate this holiday, which has in the past been rejected as something for socialists and Communists. People are talking about compensation, wealth, equality, and injustice more widely in the US today than at any time I can remember.

For instance, Fred Clark and Mic both shared infographics that highlight disturbing aspects of the American economy. I will share two below. Click through on the links at the start of this paragraph to see more. And then please come back here and discuss the subject!


CEO compensation

If you prefer your information by video, then there is this video which I am sure I’ve shared before:

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What Are Your Thoughts?leave a comment
  • histrogeek

    May Day started here first, and in Chicago. Yeah us!

  • The higher red bar should be much higher and the lower red bar should be zero.
    I’m still not sure what caused the rising attention given by companies to CEOs in the 1990s.
    Yeah, yeah, most Americans are Maoists, I know. Or, alternatively, just not good at math.

  • Michael Wilson

    I looked up some figures, http://www.forbes.com/sites/kenrapoza/2013/03/13/how-much-do-wall-streeters-really-earn/
    There are about 1.1 million full time minimum wage earners. There are about 300 million Americans. So, a third of a percent make 14 billion, and wall street, how ever many get bonuses;a thousand? Yeah better to have Wall Street money than Starbucks money. But I wouldn’t trust my retirement to a burger flipper.

    • Gary

      Part of the problem is that companies (some, not all) no not provide full time hours at minimum wage. They do this to purposely avoid giving benefits like health care, sick leave, paid holidays, etc. So the 1.1 million figure, even if true, represents a much smaller number of people that are paid minimum wage. Minimum wage, at less than 40 hours a week, to purposely screw the workers out of benefits that most people working on Wallstreet get as a given, is outrageous.

      • “Minimum wage, at less than 40 hours a week, to purposely screw the
        workers out of benefits that most people working on Wallstreet get as a
        given, is outrageous.”

        • Gary

          I’ve seen some of your comments, and wonder why you haven’t been banned. Enjoy your crazy ideas, but I am not wasting my time answering you.

          • One of the only people I’ve seen James ban is Neil Godfrey, a fairly decent guy and trenchant critic with some weird and wrong-sounding ideas who frequently used McGrath as a prime example of What Is Wrong With Biblical Scholarship on his blog, Vridar, for something like a decade. My ideas aren’t crazy. Considering you believe your gut to be superior to free market prices in allocating scarce resources, your non-response might as well be for the best. Bye.

  • And the sticker price for higher education is one thing; in reality, prices paid by students and their families for higher education are about the same as before the recession. The high sticker price is merely to scare away the riff-raff (poor and unqualified students). Colleges want rich students, even if unqualified. They also want qualified students, even if poor. They do not want students who are simultaneously poor and unqualified.

    I wonder how that homeownership change contrasts with those of other countries. The U.S. isn’t the only country in the world!

  • Tola

    “working full time at minimum wage,” how many people out there are making 1.01 times the minimum wage or more?