I don’t mind you being rich. I mind you buying my government!
Dear Art World,
I feel you sitting there trying to process the CRAZY shit going on. I’ve been there for months, and it’s driving me INSANE. Fuck it, it seems counterproductive to EVEN talk about this shit, because EVERYONE ALREADY KNOWS WHY “SHIT is REALLY FUCKED UP,” or why I’m wrong.
BUT, I’ve come to some conclusions about shit. One is that we spend A LOT of time BLAMING each other for not understanding WHAT the problem actually is — TRANSPARENCY, Barack Obama, mandates LOBBYISTS, immigrants, RESPONSIBILITY, FREEDOM Truth, LIZARD PEOPLE, FLUORIDE in the water… TOO MUCH OR TOO LITTLE OF ANY OF IT.
I mean, everyone ALREADY has the Answer, it’s just that every ELSE just has ‘it’ all wrong. It’s really simple, apparently, to fix everything by applying some JESUS™, REGULATION®, or CONSTITUTION™ to it. If only we’d just free the Market, convict some bankers, spiritually channel the Founding Fathers, regulate derivatives, STOP eating GM corn syrup, spend more…time with your Family OR LEGALIZE DRUGS.
EXCEPT WE don’t do shit*, because this is AMERICA, Land of the Mr. Softee® and home of the BRAVES® where we are FREE to ARGUE about the CAUSES of social and ECONOMIC inequalities until the grass-fed cows come home. We argue in comment threads, on Facebook™, and twitter™. AND, when we aren’t arguing, We agree with our favorite ‘experts’ on FOX®, CNBC™, and CNN™ as we slide into RECESSION 2.0.
One of the OBVIOUS conclusions I’ve arrived at is that a very FEW people LIKE it that way. WHILE SHIT is bad for MOST of us — 9%+ unemployment, $14 TRILLION+ debt, and a perpetual War on Terror® — *THEY* hope we’ll all just pull a lever next fall ‘PROBLEM SOLVED’ and argue some more about the INTENTIONS of the CLIMATE, BECAUSE the 1% is doing fine.
The only FACTS worth stating are that 20% of the population controls 85% of the net worth and earned 49.9% of the income last year. IN the AMERICAN SPIRIT™ of BLAME and recrimination I’m going to point the finger at…deREGULATED CAPITALISM®! IT is in the very spirit of Capitalism to ACQUIRE MORE CAPITAL. To quote @O_SattyCripnAzz, fellow citizen and member of #Team #1mmy [?], “Money is money no matter how u get it.”
Unfortunately, the same 1% also supports the rest of us by BYING shit and funding almost everything else (museums, residencies, grants…) putting some of us in an awkward position (YOU TOO NATO and Pedro), BUT that doesn’t mean we should SHUT THE FUCK UP, take their MONEY, and say ‘Thank you!’ The Art World is NOT separate from SOCIETY and THIS is how SHIT gets all FUCKED UP — PLUTARCHY, motherfuckers.
So, in my useless capacity as a tool artist, I’ve made some pictures about this SHIT that are FREE to look at**, and they’re ALL DERIVATIVES.
[signed William Powhida]
** Bring a chair
Highest Pay Ratio
Stephen J. Hemsley of UnitedHealth Group brings home $1,731 for every dollar a typical employee at his company earns. Wal-Mart CEO Michael T. Duke sits far behind him with a 713 to one ratio. And, Ivan G. Seidenburg of Verizon Communications comes in third at 613 to one.
Do you earn about $10 per hour? Can you imagine earning $6,130 per hour instead? That is what is happening in Verizon’s corner office. At UnitedHealthGroup, it’s more like $17,310 per hour. With a boost in earnings like that, you could afford to buy a Hyundai Elantra GT 4 door hatchback every hour (MSRP $15,389).
Lowest Pay Ratio
Not all leaders take in cash at the same rate. In fact, Warren Buffet of Berkshire Hathaway earns a humble $10 for every dollar of typical median income earned by his employees.
Microsoft Corp. stands out as a profitable company that pays its employees well. Microsoft boasts the highest typical median pay for full time employees, the fourth highest annual profits, and the 48th highest paid CEO on the list (Steven A. Ballmer) with a ratio of 13 to one.
And, had he lived long enough to still be leading the company he so carefully built, Steve Jobs would have outdone them all, earning his lowly $1 per year salary.
In the Red
Finally, we have organizations where, not only are the CEOs earning much more than their company’s typical worker, their companies aren’t doing so well.
Fannie Mae, Freddie Mac and Bank of America all made it into Fortune’s top 50 but none are profitable.
In better news, workers at Fannie Mae and Freddie Mac make high wages overall so their CEO to typical worker pay ratios aren’t too shabby. Fannie Mae’s is at 66 to one and Freddie Mac’s is at 52 to one.
But who is out-earning their peers the most, without bringing home the bacon? The CEO of Bank of America brought home $6,450,000 in cash earnings last year and, that was 144 times of what the typical Bank of America worker earned. Meanwhile, the company was over-budget by $2,238,00,000.