Obscene Statistic Helps Explain Why Income Inequality Is So Bad

Chief executives certainly have demanding jobs ― requiring long hours, boorish appearances on CNBC and earnest declarations of their social commitment ― but are these positions 276 times as hard as yours? In 2015, the average chief executive at the largest corporations in the U.S. earned 276 times what a typical worker made ― about $15 million, a new paper from the Economic Policy Institute reports.The number actually fell a bit from 2014 ― when CEOs on average made around $16 million ― because of declines in the stock market. Still the ratio of CEO pay to normal person pay remains so high it’s almost kind of funny ― except for how that money could be put to more productive uses.The ratio was 59-1 in 1989, then surged in the 1990s to 376 before the dot com crash. Right before the financial crisis in 2007 it was 345-1