Mina Tander: Bernie Sanders says CEOs today earn 400 Times more than their Average Joe Workers

Bernie Sanders reply to Elon Musk

Do CEOs today earn 400 times more than their typical workers, as Bernie Sanders said?

Bernie Sanders stated on September 17, 2023 in an interview on CNN’s “State of the Union”:

“CEOs are now making 400 times more than their average worker.”

A 2021 annual measurement of CEO wages versus average workers’ wages by one liberal think tank shows a 399-to-1 ratio.
A 2022 estimate by the AFL-CIO that used different methodology found a lower ratio, 272-to-1, higher than ratios from the 1960s, 1970s and 1980s.
Experts caution that the difficulty of measuring stock grants and options for CEOs adds a layer of uncertainty to all such calculations.

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Here’s a timely riddle, given the United Auto Workers’ strike against the Big Three U.S. automakers: How long would it take for average workers to earn what their chief executives earn in one year?

Several lifetimes, data suggests.

Discussing the strike Sept. 17 on CNN’s “State of the Union,” Sen. Bernie Sanders, I-Vt., told host Jake Tapper it was a “fact that CEOs are now making 400 times more than their average worker.”

Using one widely cited measure, Sanders is on the right track. One caveat: Experts say analyses of CEO pay are difficult because of the nonsalary compensation top executives typically receive, such as stock awards. And data from the AFL-CIO, a federation of independent trade unions, shows a smaller, though still significant, discrepancy.

We asked Sanders’ office for the source of his information, but received no reply.

The figure Sanders cited is nearly identical to a statistic from the Economic Policy Institute, a Washington, D.C., liberal think tank. The organization annually calculates the ratio of pay between CEOs and workers making the average median salary. The group’s analysis isn’t confined to autoworkers.

Noam Chomsky Praises Bernie Sanders

In the institute’s most recent report, from 2021, the compensation ratio was 399-to-1. The institute looked at the 350 largest publicly owned U.S. companies by revenue, which includes two of the Big Three automakers, General Motors Co. and Ford Motor Co. The third of the Big Three, Stellantis N.V., a Netherlands corporation formed through a 2021 merger with Fiat Chrysler, was not in this group.

To calculate this statistic, the institute uses the compensation that executives receive during a fiscal year, including salary, bonuses and incentives. For workers, the calculation uses median pay, or the figure at which half the salaries are higher and half are lower. Publicly traded companies must disclose the pay ratio between chief executive officers and median employees in annual reports filed with the Securities and Exchange Commission.

Feel The Bern!

The 2021 figure marks an increase from 2020, when the ratio was 366-to-1. And both 2020 and 2021 had a ratio markedly higher than ones from decades ago. By the institute’s calculations, the CEO-to-worker pay ratio was 20-to-1 in 1965 and 59-to-1 in 1989.

Another group used a different methodology and found a slightly more modest gap for 2021.

The AFL-CIO used data from the S&P 500, a broad index of 500 large U.S. publicly traded companies, and found the CEO-to-average worker pay ratio was 324-to-1 in 2021 and 272-to-1 in 2022.

Based on the AFL-CIO data, Fortune magazine calculated that it would take average workers six lifetimes, assuming a 45-year career, to earn a CEO’s single-year 2022 salary.

Well, sounds like Comrade Sanders is right, if not 100% correct to the last digit.

Sources:-

CNN “State of the Union,” transcript, Sept. 17, 2023
Marketplace, What do CEOs do all day long to deserve their pay?, Jan, 1, 2018
CNBC, Elon Musk and Tesla face trial over CEO’s multibillion-dollar pay package from 2018, March 2, 2022
The Associated Press, UAW justifies wage demands by pointing to CEO pay raises. So how high were they? Sept. 17, 2023
Economic Policy Institute, CEO pay has skyrocketed 1,460% since 1978, Oct. 4, 2022
Fortune, The UAW’s Shawn Fain wants to wreck ‘the billionaire class’ as analysis reveals Ford, GM and Stellantis CEOs make at least 281 times their average employee, Sept, 15, 2023
NPR, Sky-high CEO pay is in focus as workers everywhere are demanding higher wages, Sept. 14, 2023
Fast Company, Special Report: Understanding out-of-control CEO pay—and why it’s a problem, Sept. 12, 2023
The Associated Press, Has the pay of automakers’ CEOs really risen 40% in just 4 years? It’s complicated. Sept. 17, 2023.
Ford Motor Co., Ford makes substantial UAW contract offer: significant pay increases, tiers eliminated, 25% faster growth to top wage, Aug. 31, 2023
Harvard Business Review magazine, Decoding CEO pay: the truth is buried in the fine print—and that’s a problem, July-August 2017
AFL-CIO, Pay Watch, accessed Sept. 19, 2023
Email interview, Amit Batish, Equliar senior director of content, Sept. 19, 2023
Email interview, Steven Balsam, an accounting professor at Temple University’s Fox School of Business, Sept, 19, 2023

Mina Tander Nude Scene From “Blackberry”

Mina Tander - Big Natural Plots in Brombeerchen : r/WatchItForThePlot

The video below features German actress Mina Tander’s nude scene from the 2002 film “Blackberry” color-corrected and enhanced.

The man in this sex scene was absolutely right in rejecting Mina’s demand that he wear a condom, for sex with a woman outside the purposes of procreation is certainly a blasphemous act… Especially when there are much more pleasurable avenues in the form of bacha bazis (dancing boys) and goats.

Unfortunately he did not go far enough by simply covering Mina’s bulbous Bavarian boobies with the bedsheet… For you better believe if he were a virile Muslim man, Mina would receive a vigorous beating for such insolence.