Local Hero

 

Toluca Lake, wasn’t it?

 

 

Rich people have too much money these days. She knows.

 

 

She’s so great. Yeah, screw you too, you right-wing moron. (Most likely a Twitter bot. Most of them are now, and they all repeat the same smug, arrogant tripe. Usually they try to play themselves as “moms.”)

No wonder people hate her:

 

I had to speak out about the naked indecency of chief executive Robert Iger’s pay. According to Equilar, Iger took home more than $65 million in 2018. That’s 1,424 times the median pay of a Disney worker. To put that gap in context, in 1978, the average CEO made about 30 times a typical worker’s salary. Since 1978, CEO pay has grown by 937 percent, while the pay of an average worker grew just 11.2 percent.

This growth in inequality has affected every corner of American life. We are increasingly a lopsided, barbell nation, where the middle class is shrinking, a very few, very affluent people own a great deal and the majority have relatively little. What is more, as their wealth has grown, the super-rich have invested heavily in politicians, policies and social messaging to pad their already grotesque advantages.

In 2017, with the quiet encouragement of corporations across the country, Congress passed the Tax Cuts and Jobs Act. As billions of dollars landed in the laps of management, they spent as a rule not on their workforces but on wealth-enriching strategies such as stock buybacks and, yes, executive pay.

In 2018, Disney gave more than 125,000 employees a $1,000 bonus. But that $125 million or so was dwarfed by the $3.6 billion it spent to buy shares back to drive up its stock price and thus enrich its shareholders. Given that about 85 percent of stocks are held by the richest people in the country, this was a significant new investment in wealth inequality.

I have been quietly grumbling about this issue for some time now, uncertain how public to be. It is time to call out the men and women who lead us and to draw a line in the sand about how low we are prepared to let hard-working people sink while top management takes home ever-more-outrageous sums of money. It is unreasonable to expect corporate boards to act as a check on this trend; they are almost universally made up of CEOs, former CEOs and people who long to be CEOs…

 

How dare she! She’s biting the hand that feeds her!

Like, who else better to say something about this obscene change in our country?

 

 

Most conservatives are now. Their economic views make no sense, and their facts are lacking.

 

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2 Comments

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2 responses to “Local Hero

  1. chad

    I thought that was pretty cool myself.

    • semichorus

      I’ve heard that all the Disney grandchildren are good people. Pretty progressive and fairly down to earth.

      Her father is Roy Disney. He used to go down to the Burbank council meetings quite often and weigh in on all sorts of topics. And not just those Disney related. They lived right across the border for years.

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