The pandemic put a spotlight on many things. Near the top of that list is inequality in the United States, especially in the U.S. labor market.
Workers who were deemed “essential” during the pandemic are seeing corporations with massive profits and CEOs getting record deals while they’re struggling to keep up with inflation.
According to the Economic Policy Institute, CEO pay has skyrocketed 1,460% since 1978. CEOs were paid 399 times as much as a typical worker in 2021.
Listen, it’s not like these CEOs are more productive or more skilled than other workers or that there’s a shortage of them. CEOs are getting paid because of 1) their power to set pay 2) their pay (more than 80%) is stock-related 3) they can control the stock buybacks that raise their income!
This matters because these corporations could be investing in other places, like research and development or in their workers.
Last year, we had Striketober. Since that time, here in Iowa, we have had the John Deere strike, multiple walkouts at meat packing plants, and we currently have two ongoing strikes: BCTGM Local 100G strike against Ingredion Inc. in Cedar Rapids and the UAW Local 807 strike against Case New Holland in Burlington.
If you’re listening to what these workers are asking for, it’s very reasonable. The Railroads almost destroyed our economy over sick leave! In fact, just last month, a study showed that over 60% of low-wage workers still don’t have access to paid sick days on the job!
Paul Wellstone said it best: We all do better when we all do better.
Until WE ALL do better, we will continue to get screwed!
YOU’RE PROBABLY (ALSO) GETTING SCREWED BY:
WASTEFUL SPENDING
BIG OIL
Hurricane Ian gave Big Oil another opportunity to hike up prices on consumers. Here’s a good video about it.
FOOD MONOPOLY
Conagra, one of the world's largest food companies, just reported a $720 million quarterly profit while all of our grocery prices continue to go up…
FINE DINING… FOR DOGS
HOUSING MARKET
TYSON
IBP was headquartered across the river from me in North Sioux City. Tyson bought them out in 2001. Now Tyson moved 500 jobs out of the Siouxland area. Monopolies…
BEFORE YOU GO
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Standing Tall for All,
J.D. Scholten
Hey, JD. I'm originally from Iowa and following your careers (baseball & politics) from afar. If you are an Iowa State Employee you could easily get screwed by the state's employee life insurance provider! The Standard has a clause that if, as a state employee, you become disabled before you die, your beneficiaries will not receive any life insurance benefit! Example: my sister in Iowa City was diagnosed with cancer 4/21. She passed in 5/22. Beginning 2/22 she could no longer work due to the cancer and chemo and was designated as disabled. Therefore her daughters received NO death benefit. According to our estate attorney, other insurance companies do not always have this clause, mentioning The Hartford as an example. If a person dies fast (accident) they pay. If a person dies slowly (cancer) The Standard does not provide any benefit. Do you get a life insurance policy as a House member? You might want to check into it....
You're probably getting screwed by lobbyists, The public / private revolving door, Campaign financing, Horse race election coverage, Emotionally manipulative news, The failure to recuse due to conflicts of interest, Insider trading by public servants, Emolument abuse,