Thom Hartmann: Corporate CEOs have a secret they don't want you to know about...

[thomhartmann]

Run time: 04:54 https://www.youtube.com/watch?v=n8SgfJy2xVI   Posted on YouTube: June 28, 2011 By YouTube Member: TheBigPictureRT Views on YouTube: 232   Posted on DU: June 28, 2011 By DU Member: thomhartmann Views on DU: 3378

 
Corporate CEOs have a secret they don’t want you to know about…and that’s how much money they’re stealing from their workers. And Republicans are accomplices in the thievery. Last year - as part of the Wall Street reform bill passed by Congressional Democrats and signed by President Obama - there was a provision forcing corporations to disclose just how large the pay gap is between their CEOs and their average workers. As in how much more money the bigwig in the corporate office makes SITTING on his butt all year versus how much money the factory floor worker makes BUSTING his butt all year. The provision was included in hopes that if people knew just how gross the pay gap is between CEOs and workers - then maybe there would be more pressure to shrink it…as they say - sunlight is the best disinfectant. And today - outrageous corporate pay is infecting our economy.

Consider that back in the 1970s - CEOs made about 30 times more than their average worker - as in what they did was 30 times more valuable to the company than what other workers did. But since then - the numbers have exploded - and today - CEOs make as much as 400 times their average worker and in some cases on Wall Street - as much as 2,000 times the average worker. Can today’s CEOs really justify that they are 2,000 times more valuable to the company than their workers? They can’t - and that’s why they don’t want you to know how much money they’re taking from their corporate treasure chest to pad their Armani pockets. And that’s why - as soon as Republican took control of the House of Representatives at the beginning of this year - CEOs from 81 of the biggest corporations in America - including McDonalds - General Dynamics - and IBM started a massive lobbying effort to repeal the new CEO-pay disclosure requirement.

And when corporate CEOs talk - Republicans listen. Last week - Republicans did as they were told - and repealed the CEO pay disclosure provision in a party line vote in a House Committee.
--Republicans don’t think you should know that while unemployment is hovering around 9% and average employee wages are sinking lower and lower - people like Phillipe Dauman made more than $84 million last year as the CEO of Viacom.
--Or that while nearly 50 million Americans languish in poverty - while Ray Irani of Occidental Petroleum made $76 million last year.
--Or that while more than 40 million Americans need food stamps just to eat - while Lawrence Ellison of Oracle made $70 million last year.
--Republicans don’t want you to know that every $15 million dollars a CEO is paid for with a $1000 pay-cut to 15,000 workers.
--Or that every $30 million check cut to a CEO - could have instead hired 600 new workers - each making $50,000 dollars a year.

And these are the guys that Republicans call the “job creators” in America - the guys who’d rather stash $30 million in a Swiss bank account - where it will sit untouched collecting interest - rather than spend a dime employing one of the 25 million unemployed people around the nation. This is nothing more than stealing. These CEOs aren’t job creators - they’re stealing from the people who are the ACTUAL job creators - people like you and me who buy stuff. When the middle class in America has money - they buy stuff - and the more stuff they buy - then the more stuff needs to be made - and the more stuff that needs to be made - then more workers need to be hired. That's how an economy works. But giving a guy who’s already worth a hundred million dollars - another hundred million dollars - won’t create one damn job - and won't stimulate the economy at all. We need to start calling out the Republican Party for what they are - the wholly-owned Party of the rich CEOs - and not the Party for the other 99% of us.

Harry Truman knew this more than 60 years ago, when he said, "We have been working together for victory in a great cause. Victory has become a habit of our Party. It's been elected four times in succession, and I'm convinced it will be elected a fifth time next November. The reason is that the people know that the Democratic Party is the people's party, and the Republican Party is the Party of special interest, and it always has been and always will be."

Nothing's changed. It's time to shed some light on the wealth inequality in America - and expose greedy corporate CEOs for their blatant robbery of the American dream - and expose the Republican Party as their accomplices

The Big Picture with Thom Hartmann on RT TV & FSTV "live" 9pm and 11pm check
www.thomhartmann.com/tv for local listings

[arcane1]

1. They repealed it??

Doesn't it have to still be signed into law by the prez?

[qwlauren35]

2. K&R

[Duct Tape]

3. K&R

I love how Truman got a little fired up during the speech.

[florida08]

4. republicans are repulsive

but worse they're fascists

[madlefty]

5. The Truman clip

Truman's tirade would make a GOOD POLITICAL CAMPAIGN VIDEO! We need someone to get out there on the MSM AND TELL IT LIKE IT IS!

[JJW]

6. Not much difference

Not much difference between the two parties now. Both sell out working Americans for campaign dollars by allowing off shore slave labor and tax free profiteering. You didn't hear? Obama has caved into the GOP and his three trade deals have no worker rights or protections (slaves).

America held the promise of breaking from human history of serfdom and some form of slavery for the very few blue blood royal families. But it seems, that the top few percent still run everything and don't care the least how others suffer for their personal gain. You can meet William and Kate for $ 4,000 per person at Santa Barbara's Polo Club.

Something is very wrong when someone like Warren Buffet is paying $3 a day for slaves to sew underwear in Haiti and President Obama is parading him around like a true American Wizard of Finance.

[osteenq]

7. That was a secret? To who? (nt)

...

[INdemo]

8. It was nice to have Thom Hartman to remind us where the

Repukes stand.But this is not going to change a thing..Oh it could ..Democrats could get off their ass and start representing the voters that put them in Congress..but instead they too have joined the ranks of the corporate puppets and Mr Hartman forgot to mention this..its not just the Republicans that are owned by the corporate mafia.

[TatonkaJames]

9. The reason they have for justifying it is.....

They know they are thieves, most times breaking the law and for that chance of going to jail they figure I should get paid for being evil.

[chervilant]

10. Blech...

Mr. Hartmann could strengthen his message by citing the ACTUAL unemployment rate, and by mentioning the burgeoning percentage of the under-employed.

I prefer to call 'wealth inequality' radical income inequity, because the vast majority of the hoi polloi have never known 'wealth' or anything close to it. Furthermore, income bespeaks an immediacy that many may not assign to 'wealth,' since wealth is often perceived as something that has been amassed over time.

The Obscenely Wealthy have been oppressing us for decades, but their hedonism now threatens to tip the scale. They're about to place the proverbial straw that breaks the camel's back, under the ruse of 'raising the debt ceiling.'

Freedom Plaza, October 6. Prepare to stay until we take back our media, our politicians, and our global economy from the vile Corporate Megalomaniacs bent on having it all.

[raouldukelives]

11. K&R

[LaloBorges]

12. In his examples

The difference with Larry Ellison and the rest is that he made Oracle, he started it from scratch, he deserves all the money he gets from his creation, the others are just paid CEOs who (and I don't know all of them) have not created any of the companies where they are cashing in the big checks.

I believe the sad story here is that most of the CEOs today make their money, not from creating jobs and helping the bottom line of the company they run, or their employees, but from lobbying the corrupt politicians to pass laws that will artificially and temporarily increase revenues as well as their bonuses but for the long term economy most of these laws are detrimental.

[ut oh]

13. Job creators?

more like job crushers....

[postulater]

14. Why would the CEOs be asking for repeal?

Aren't they proud of being the king of the mountain? That's what capitalism is. They won. They got the ring. They should show it off.

If they are embarrassed about it then they shouldn't take so much. Sick assholes.

[democracy1st]

15. K & R

[Angry Dragon]

16. KICK

[mistertrickster]

17. The Republican Party favors the privileged few and not the common everyday man.

Why oh why is it so hard for Democrats to say that today?

[BrianDude]

18. Dont Forget White Collar Worker

On March 28, 2007 The Wall Street Journal's Front Page headline discussed the dangers of so called "Free Trade" to not only blue collar workers but white collar workers as well.

The top 1% love when liberals talk about "workers" rather than the more inclusive "EMPLOYEES"! It is all fine and good to say that those who loose their factory jobs can be re-trained for high tech jobs! But what good is it if these jobs are also off shored.

Let me list what the Wall Street Journal said on their front page as other careers that soon will feel the heat from off shoring.

1. Computer programmers. (We already know that)
2. Actuaries
3. Film editors
4. Mathematicians
5. Economists
6. Graphic Designers
7. Accountants
8. Microbiologists
9. Financial Analysts

Speaking about #9 have you heard Goldman Sachs is going to off shore it's white collar force!

We need to UNIONIZE WHITE COLLAR EMPLOYEES!
We need to stop talking 19th century "workers" but use the more inclusive term "Employees"!

I worked as a computer operator for that sh*t company AIG in the 1980's. They would screwed their white collar employees to the point that I became a blue collar union worker to get a better salary! Don't think that a college degree protects you from the greed of our social betters!

I love Thomm Hartmann but I would suggest that we not alienate white collar employees. When I worked for AIG at I was a man and I worked! Nothing turns off college grads then to be insulted that they are not working men and woman! We need to have a broad coalition against the corp elites!

Republicans use the tactic of "Divide and Conquer" and utilize "Union Envy"! I would ask Thom to be more inclusive and use "Employees" instead of "workers".
http://middle-class-populist.com/union-envy-how-unions-lay-themselves-open/

[underpants]

19. Hartmann is great