The corporate class is so emboldened they aren’t even hiding it. General Motors CEO Mary Barra is the highest-paid of the Big Three CEOs, making about $29 million a year. She has received a 34% increase over the last four years. The United Auto Workers union is demanding a 40% hourly salary increase over four years. So far, hey have only been offered a 20% increase. At the very least, the auto worker should get a 34% increase over the next four years, just like the CEO received over the last four years. In a CNN interview, Barra defended her high earnings:
CNN’s Venessa Yurkevich:
They are asking for that in part because they say CEOs like yourself, leading the Big Three are making those kind of pay increases over the course of the last four years. You’ve seen a 34% pay increase in your salary. You make almost $30 million dollars. Why should your workers not get the same type of increases that you are getting leading the company?
Well if you look at compensation, my compensation 92% of it is based on the performance of the company.
So what she is saying is:
My compensation depends on how hard our employees work. I deserve it.
We need stronger unions leading to real wage increases and prosperity in the labor market.