To the Editor:
We the people are frustrated. Government does not care about us. We are tired of fewer jobs and low pay and no benefits. We rage against the machine.
Let’s look in another direction that causes us distress and pain. Since 1978, worker pay has risen only 11 percent. The stock market has risen 500 percent. CEO pay has risen 997 percent. Did you share in their good fortune?
When a company starts to fail, they start cutting workers and worker benefits.
The unemployment rate rises and we blame the government. The CEO seldom gets fired and if that CEO is fired they get a huge golden parachute worth millions, never a pay cut.
CEO of IBM — 20 consecutive quarter losses. Compensation $97 million.
CEO of Anthem Health Insurance— $16.5 million in 2016 and stock rose 40 percent. Did you get lower premiums?
Even though they claim they were losing money, the Humana CEO compensation tripled last year to $17 million — stock rose 34 percent.
UnitedHealth CEO compensation $16.7 million — stock rose 33 percent.
Drug company Regeneron makes an arthritis medicine. CEO compensation is $47 million. Did your drug costs go down?
CVS Health CEO compensation — $22.8 million.
How can companies, especially insurance companies say they are losing money while giving their CEOs such outrageous compensations and we get such minimal, if any, increases. It is not the government giving out these CEO compensations.
You might want to start looking at who really is to blame instead of blaming your neighbors, immigrants or the poor.