As Bad as You Think Inequality Is, It’s Worse!
By Les Leopold
Posted October 28, 2015
In 1970, for every dollar earned by the average worker, the top 100 CEOs earned on average $45. By 2013 the ratio had jumped to $829 to $1, which is 20 times greater that what the typical American in the survey guessed.
More amazing still is that on average Americans think CEOs of large companies receive about $900,000 per year in compensation, when in reality they receive nearly $30,000,000. It’s as if our perception of the income gap was frozen in 1970. We just have not caught up with the realities of runaway inequality. More…