Say it isn't so? Picking the pocket of the working man to become a 1%er? That's terrible.
http://www.washingtontimes.com/news/2015/jun/4/rick-berman-union-bosses-earn-more-than-ceos/
It’s one of Washington’s annual rituals: The AFL-CIO, the largest federation of labor unions in America, releases its annual Executive PayWatch report, alleging the “average worker” makes pennies in relation to fat-cat CEOs
swimming in pools of gold.
Left-wing politicians and journalists eat it up, but the report is based on faulty statistics and hides an embarrassing secret: Quite a few union bosses make more than the average business executive.
The AFL-CIO asserts that CEOs make more than 300 times what the average worker earns. But as numerous people have pointed out — ranging the ideological spectrum from economist Mark Perry at the American Enterprise Institute to The Washington Post’s “Fact Checker” — the comparison the AFL-CIO uses is suspect. The union cherry-picks the country’s top-paid executives from the S&P 500 as their CEO sample, while using a calculation for the “average worker” that undercounts their true earnings.
Using the top-paid executives for comparison purposes is a ridiculous way to assess the pay of employees and executives. Indeed, one could goose the pay of the “average worker” by using professional athletes for the comparison. Such a move would be little different from picking CEOs who all guide companies worth billions of dollars as representative business people — it’s picking the extreme to represent the mainstream.
http://www.washingtontimes.com/news/2015/jun/4/rick-berman-union-bosses-earn-more-than-ceos/
It’s one of Washington’s annual rituals: The AFL-CIO, the largest federation of labor unions in America, releases its annual Executive PayWatch report, alleging the “average worker” makes pennies in relation to fat-cat CEOs
swimming in pools of gold.Left-wing politicians and journalists eat it up, but the report is based on faulty statistics and hides an embarrassing secret: Quite a few union bosses make more than the average business
executive.The AFL-CIO asserts that CEOs make more than 300 times what the average worker earns. But as numerous people have pointed out — ranging the ideological spectrum from economist Mark Perry at the American Enterprise Institute to The Washington Post’s “Fact Checker” — the comparison the AFL-CIO uses is suspect. The union cherry-picks the country’s top-paid executives from the S&P 500 as their CEO
sample, while using a calculation for the “average worker” that undercounts their true earnings.Using the top-paid executives for comparison purposes is a ridiculous way to assess the pay of employees
and executives. Indeed, one could goose the pay of the “average worker” by using professional athletes for the comparison. Such a move would be little different from picking CEOs who all guide companies worth billions of dollars as representative business people — it’s picking the extreme to represent the mainstream.
