Patriotic Millionaire Abigail Disney to Testify Before Congress On CEO-Worker Pay Ratios
“Jesus Christ himself isn’t worth 500 times his median worker’s pay.”
TJ Zlotnitsky, Patriotic Millionaire and President and CEO of iControl Data, said, “A prosperous America cannot be measured by GDP figures or Dow Jones trends alone. We must insist that American workers — and the American families and communities those workers represent — see their fair share of economic growth and gains in productivity.
At my software company, I as CEO earn about 3x what my average employee earns. There is no justification in my view for CEO/worker pay gaps of 100x, 200x, let alone more. That’s not the democratic capitalism that’s made America the shining city on the hill. Instead, it is a vulgar and extreme capitalism that depends on the kind of bait and switch, distract, deceive and outrage politics we see all around us. We must come together to restore decency and common sense to our capitalism, which starts with fair wages for American workers.”
Morris Pearl, former Managing Director at Blackrock, Inc. and Chair of the Patriotic Millionaires, said, “Our nation has always had people who created great businesses becoming very rich. People like Sam Walton, Steve Jobs, Bill Gates and Mark Zuckerberg became some of the richest billionaires in the world because they were the founders of hugely successful companies. But now, a few people, hired by the owners of the businesses to run them, have essentially taken control of the businesses, taken control of the boards of directors and are paying themselves exorbitant amounts of money.
Is a great leader worth as much as fifty smart workers? Yes. One hundred? Maybe. One thousand hard working people? No. When people who might be a little better than the second best guys are paid a thousand times more than the average worker, we soon end up with a small rich aristocracy controlling our nation’s commercial, and civic institutions. That will not end well for either the people at the top, or the rest of the people.”
About the Patriotic Millionaires
Proud “traitors to their class,” members of the Patriotic Millionaires are high-net worth Americans, business leaders, and investors who are united in their concern about the destabilizing concentration of wealth and power in America. The mission of The Patriotic Millionaires organization is to build a more stable, prosperous, and inclusive nation by promoting public policies based on the “first principles” of equal political representation, a guaranteed living wage for all working citizens, and a fair tax system. You can find out more at https://patrioticmillionaires.org/about/
The Patriotic Millionaires have appeared on hundreds of media outlets here and abroad, including The Daily Show with Jon Stewart, the PBS NewsHour, The New York Times, Washington Post, CNN, MSNBC, Fox News, and many others. You can find more coverage at https://patrioticmillionaires.org/media