Studies of bloated CEO pay miss the fattest cats in America

[LuckyTheDog]

Each year The New York Times creates a furor by publishing a list of the highest paid CEOs. (This year the top 10 averaged $30.3 million in total compensation.) And each year “the paper of record” misses the real story: Yes, CEOs of public firms certainly are paid ridiculous sums, even compared to corporate chiefs in other rich countries. But the true robber barons run hedge funds and private equity companies. They make billions, not millions, and they do it not by running businesses, but by siphoning wealth away from companies, consumers, students and governments.

Just take a look at what the top 10 hedge fund managers “earned” in 2013…

That means these top hedge fund moguls earned nearly 59 times more than the top CEOs. Here’s America’s new math for a new Gilded Age:

-In 2013, George Soros made $1,923,077 per hour!
-In one HOUR Soros makes as much money as the median American family earns in 37.7 years. (Yep, one hour of his time is “worth” 37.7 years of your family’s.)
-The top 10 hedge fund managers earned as much in one year as 334,902 elementary school teachers or 271,575 registered nurses.
-Hedge fund managers pay a lower tax rate than teachers or registered nurses because of a special tax loophole called “carried interest.”

MORE HERE: http://wonkynewsnerd.com/studies-of-ceo-pay-miss-fattest-cats/