By John Lawrence
A report by Demos revealed that, in 2012, the compensation of fast food CEOs was more than 1,200 times the earnings of the average fast food worker. Proxy disclosures recently released by fast food companies reveal that the ratio remained above 1,000-to-1 in 2013. Raising the minimum wage would do more to reduce inequality in the US than just about any other measure that could be taken.
But Republicans in the Senate voted down a Federal increase in the minimum wage. What else did we expect? As long as they have the veto, nothing will pass the Senate that benefits the middle class or the poor.
Thomas Piketty's book Capitalism in the 21st Century is the top seller on Amazon.com. He is drawing attention to the fact that the very rich have incomes hundreds of times greater than average workers.
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