runawayinequality
Institute for Policy Studies Report: Corporations Change Rules to Increase CEO Pay During Pandemic, Layoff Workers
The details are in this report: https://ips-dc.org/how-corporations-pumped-up-ceo-pay-while-their-low-wage-workers-suffered-in-the-pandemic/ Just one juicy detail among many: “Hilton CEO Christopher Nassetta had the largest paycheck among the rule-rigging companies. After he failed to meet the goals associated with his multi-year stock awards, the board “modified” the awards by disregarding poor 2020 financial results and changing the performance metrics. Those maneuvers inflated his total compensation to $56 million — 1,953 times as much as the company’s median worker pay of $28,608 in 2020.” The article suggests support for the Tax Excessive CEO Pay Act, currently in Congress, which would impose a graduated tax depending on …
Inequality’s Deadly Toll
A long reported piece in Nature examines why the poorest people are the most vulnerable to disease, and how our inadequate systems of regulation and support make matters worse. A Covid story with implications that extend far into the future.
https://www.nature.com/immersive/d41586-021-00943-x/index.html
What a Difference a Union Makes. Plus State Laws.
Mother and Daughter Do the Same Job. Why Does One Make $9 More an Hour? Brigid Schulte and Cassandra Robertson write in the New York Times. Click here to read.
How the Federal Reserve is Increasing Wealth Inequality
Low interest rates have stabilized the economy and boosted the stock market, making winners of winners and leaving the rest of us behind. Allan Sloan and Dezary Podkul report at ProPublica.org. Read it here.
Race or Wealth? How About Both?
The evidence shows we all lose when society’s overwhelmed by white resentment and win when we organize across our differences. An excerpt from Heather C. McGhee’s The Sum of Us: What Racism Costs Everyone and How We Can Prosper Together. Read the excerpt here.