[quote=SK in CV]Consumer choices drive inequality? I don’t think so. What’s happened over the last few decades, and magnfied over the last decade is that the share of corporate revenues that end up in the hands of the workers who actually produce that revenue has declined dramatically.
Corporate profits are at record levels, measured both in real dollars and as a share of GDP. The delta in that income has remained in the hands of business owners, while wages have shrunk. The result is that the wealth built by those record profits remain in the hands of those who own the stock. That has always been the case, except that prior to the last few decades, workers have shared in that growth. That’s not the case now.
It has almost nothing to do with irresponsible consumption.[/quote]
The OP’s video states that CEO’s are paid on avg 380 times the pay of the average worker in their organization so I agree with SK, also.
Here’s a recent chart naming names and showing the CEO and avg worker pay at each company.
We all know “low income” people who use newer cell phones and appear to live in a nice rental unit. What we don’t see is that most of them qualify for “Lifeline” cell phone service which costs only about $16 per month for unlimited local calling. And we don’t see the amount of their Section 8 or other program housing voucher. Most of these vouchers are worth $1200-1800 per month. These are just two examples of “extra compensation” to the lowest wage earners which are hidden from the general public.
