McCain and his supporters like to talk so much about “redistributing the wealth” so I’d like to know what he/they have to say about this graph:
The ratio of average CEO pay (now $11.8 million) to worker pay (now $27,460) spiked up from 301-to-1 in 2003 to 431-to-1 in 2004.
If the minimum wage had risen as fast as CEO pay since 1990, the lowest paid workers in the US would be earning $23.03 an hour today, not $5.15 an hour.
If that’s not redistribution of wealth, I don’t know what is. Note that this graph only goes to 2005. I’d love to see the numbers for 2006-2007.