More

Americans just scored a big win against CEOs who don't like sharing their salary info.

'When they read that number, employees are going to say, "Why is this person getting paid so much more than me?"'

Americans just scored a big win against CEOs who don't like sharing their salary info.

Corporations, in general, don't enjoy sharing how much their CEOs make.

Probably because the numbers are borderline embarrassing, to be honest.

As Upworthy reported, a study from the Economic Policy Institute found American CEOs have benefitted from staggering pay raises over the past few decades. The rest of the country? Not so much.


CEOs at top U.S. firms made about 303 times more than what their average worker made in 2014. That figure — the CEO-to-worker compensation ratio — has shifted dramatically since 1965, when top CEOs made just 20 times more.

What a difference 50 years makes, huh? Take a look:

With an exception for sluggish economic times after 9/11 and the Great Recession, the CEO-to-worker compensation ratio has surged in recent American history. Graph courtesy of Economic Policy Institute.

Big businesses rarely disclose this information voluntarily. But now, many will have to.

On Aug. 5, 2015, the Securities and Exchange Commission voted 3 to 2 in favor of a rule that, starting in 2017, will require most public companies to regularly disclose their CEO-to-worker compensation ratio.

The rule was actually part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which passed in response to the Great Recession. But after years of resistance from companies hesitant to comply, it's (finally) becoming a reality.

And that's a good thing.

Consider it a big win in the fight against income inequality.

While the ruling does nothing to limit CEO pay, it does make CEO pay more transparent. That's an important factor in closing the ever-growing gap between America's haves and have-nots.

Photo by Spencer Platt/Getty Images.

The New York Times' Gretchen Morgenson asked experts if the ruling will actually result in tangible change. And, according to them, we have every reason to hope so.

“When they read that number, employees are going to say, 'Why is this person getting paid so much more than me?'" Charles Elson of the John L. Weinberg Center for Corporate Governance at the University of Delaware told the outlet.

"I think the serious discontent will force boards to reconsider their organizations' pay schemes."

This ruling is no accident. Income inequality has taken center stage in America.

Income inequality: Presidential candidates are making it a core issue of their platforms. Cities like Seattle and counties like Los Angeles are fighting it with hikes in their minimum wage laws. Fast food workers in some places — yeah, I see you New York — have had enough of it, demanding their paychecks match the work they put in.


Workers in New York City will be getting paid $15 an hour by the end of 2018. Workers in the rest of the state will be getting paid $15 an hour by the end of 2021. Photo by Spencer Platt/Getty Images.

CEOs deserve a healthy paycheck, don't get me wrong. But one that's 303 times bigger than their average employee's?

Unacceptable. Experts agree — we have every reason to hope this new rule will help curb that unjust disparity so every American has the opportunity to thrive.

via Noti Tolum / Facebook

A group of beachgoers in Mexico proved that when people join together and stand up for justice, you can triumph in even the direst of circumstances.

Municipal police in Tulum, Quintana Roo got received a tip that there were men allegedly committing "immoral acts" on the beach. So the officers, armed with AR-15 rifles, picked up two Canadian men.

"The officers approached a group of young foreigners," local politician Maritza Escalante Morales recounted in her video. "After about 20 minutes passed, a patrol car arrived and proceeded to arrest them with handcuffs."

Keep Reading Show less
Courtesy of Creative Commons
True

After years of service as a military nurse in the naval Marine Corps, Los Angeles, California-resident Rhonda Jackson became one of the 37,000 retired veterans in the U.S. who are currently experiencing homelessness — roughly eight percent of the entire homeless population.

"I was living in a one-bedroom apartment with no heat for two years," Jackson said. "The Department of Veterans Affairs was doing everything they could to help but I was not in a good situation."

One day in 2019, Jackson felt a sudden sense of hope for a better living arrangement when she caught wind of the ongoing construction of Veteran's Village in Carson, California — a 51-unit affordable housing development with one, two and three-bedroom apartments and supportive services to residents through a partnership with U.S.VETS.

Her feelings of hope quickly blossomed into a vision for her future when she learned that Veteran's Village was taking applications for residents to move in later that year after construction was complete.

"I was entered into a lottery and I just said to myself, 'Okay, this is going to work out,'" Jackson said. "The next thing I knew, I had won the lottery — in more ways than one."

Keep Reading Show less

This story was originally published on The Mighty.

Most people imagine depression equals “really sad,” and unless you’ve experienced depression yourself, you might not know it goes so much deeper than that. Depression expresses itself in many different ways, some more obvious than others. While some people have a hard time getting out of bed, others might get to work just fine — it’s different for everyone.

Keep Reading Show less
via @jharrisfour / Twitter

The 2021 Conservative Political Action Conference (CPAC) kicked off in Orlando, Florida on Friday. It's three days of panels and speakers with former President Donald Trump delivering the keynote speech on Sunday night.

It's believed that during the speech Trump will declare himself the Republican frontrunner for the 2024 nomination.

So far, the event has made headlines for a speech by Senator Ted Cruz of Texas who tried his hand at stand-up comedy. "I've got to say, Orlando is awesome," Cruz told the cheering crowd. "It's not as nice as Cancun. But it's nice."

Keep Reading Show less