The political left spends a lot of time complaining about income inequality. They place the blame for that on CEO’s of large companies that are compensated well. Yes, CEO’s are compensated well. They also work a lot of hours a week and have spent a lot of time getting the education that qualifies them for the job they hold. But somehow, they are the villains that are responsible for wage inequality. Well, we have another villain,
The article reports:
Leading union officials earned an average salary of $252,370 in 2016, outpacing the average salary of private sector chief executives, according to a new report.
The Center for Union Facts compiled the salary information from federal labor filings of 192 of the largest national, state, and local unions. The report found that labor presidents enjoyed nearly a $60,000 advantage over the take-home pay of the nation’s business leaders, who earned an average of $194,350, according to the Bureau of Labor Statistics.
The average compensation of union officials, which includes salary and other perks, was $283,678, according to the report.
One of the complaints of the unions is the ratio of the average CEO’s salary versus the wages of the average worker.
The article further notes:
Airline Pilots Association President Timothy Canoll was the highest-paid union official, according to the federal data. He earned total compensation of $775,829 with a base salary of $526,292. The union, which is a member of the AFL-CIO, gave Canoll about $250,000 in perks in addition to the take-home pay, including $24,000 in allowances and $29,000 in official business expenses, such as meals and entertainment. He was given $196,534 in compensation classified as “Other.”
The claim of wage inequality is bogus to begin with. Like it or not, people are paid according to the scarcity of their skills and their value to a company. It is also noteworthy that somehow when the discussion of wages comes up, athletes, and movie starts are not generally mentioned. How much do they make in relation to the wages of the people who work for them?
Wage inequality is a fake issue, and the hypocrisy of those on the political left regarding union executive wages makes that very obvious.