Great talking points on Bush tax cut and economy

[whosinpower]

http://www.boston.com/news/globe/editorial_opinion/oped/articles/2004/10/19/bushs_bad_news_on_black_wealth/

snip - Bush said, ''To help families and to get this economy going again, I pledged to reduce taxes. I kept my word. Because we acted, the recession was one of the shallowest in American history. Over the last three years, our economy has grown at the fastest rate of any major industrialized nation.''

What Bush really meant was that the economy for CEOs has grown at the fastest rate of any major industrialized nation. The average CEO compensation has risen to $8.1 million a year according to Business Week, creating a CEO-to-worker pay ratio of 301-1, according to United for a Fair Economy and the Institute for Policy Studies.

If the minimum wage tracked the rise in CEO pay, it would be $15.76, not its current $5.15. If the salary of the average production worker kept pace with the rises in CEO pay since 1990, workers would be making $75,388 a year instead of $26,899.