Dear john,
Last week, the Institute for Policy Studies published the latest version of their Executive Excess report that takes an in-depth look at the 100 S&P 500 corporations with the lowest median worker pay.
Its findings are profoundly concerning. Below are some key takeaways:
According to the report:
- The average CEO-worker pay gap is now 632 to 1 at these companies where CEOs were compensated an average of $17.2 million while the average media worker pay was $35,570 in 2024
- From 2019-2024, the average CEO compensation rose 34.7% while the average median worker pay rose by 16.3%. Inflation during this same period was 22.6%.
- From 2019-2024, these companies spent $644 billion on stock buybacks to drive up their stock prices.
- 56 out of the 100 companies spent more on stock buy backs and increased executive pay than on long-term investments for their employees such as training, technology upgrades, equipment and more.
This explosion in corporate greed drives economic inequality in our country.
I believe that tax policies should prioritize working families and small businesses, not billionaires and corporations.
To learn more about my work and the legislation I support to create an economy that works for everyone, visit my website here.