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2006 Injustice By the Numbers:
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Every year the Drum Major Institute for Public Policy pulls together some stats and facts we think represent the real state of the union. We call it the Injustice Index.
You read AlterNet so I'm sure you've read about Goldman Sachs CEO Lloyd Blankfein and his $53 million dollar Christmas bonus but that's just one illustration of the state of inequality in America. Here's some more:
DMI's 2006 Injustice Index:
Wages that an average CEO earns before lunchtime: more than a full-time minimum wage worker makes in a year
Ratio of the average U.S. CEO's annual pay to a minimum wage worker's: 821:1
Year when this ratio reached its highest so far: 2006
Total compensation in 2005 of Barry Diller of IAC/Interactive, the highest paid CEO in the US today: $469 million
Additional amount that Mr. Diller received in new stock options "to motivate Mr. Diller for future performance": $7.6 million
Percentage of Americans who feel chronically overworked: 30
Years of unused vacation time that American workers collectively give back to their employers each year: 1.6 million
Percentage of women earning less than $40,000 per year who receive no paid vacation time at all: 37
Payment per episode that Donald Trump receives to host The Apprentice: $3,000,000
Average amount that companies spend to recruit a new CEO from outside the company: $2,000,000
Probability that the newly hired CEO will either quit or be fired within the first eighteen months: 1 in 2
Estimated number of people lined up outside the new M&M store set to open in Times Square responding to ads for "on-the-spot" hiring for 200 jobs, 65 of which were fulltime: between 5,000 and 6,000
Starting salary that drew them there: $10.75 per hour
Fee Paris Hilton is seeking to host a New Year's Eve party in NYC, Miami, or L.A.: $100,000 plus a private jet
Amount that Ms. Hilton is set to inherit from the Hilton Hotel fortune: $350 million
Number of times that Congress has reduced the estate tax since it last raised the federal minimum wage: 9
Longest period in which the federal minimum wage has not been increased: 1997–2006
Number of workers who would directly benefit from an increase in the minimum wage: 5.6 million
Number of very large estates that would directly benefit from a reduction in the estate tax: 8,200
Highest price per custom-fitted, handmade power suit in Armani's new line, which hopes to respond to what ex-Gucci head designer Tom Ford calls "a lot of pent-up demand for true luxury [from men who] are getting rich first, and they want to deck themselves out before they deck out their wives": $20,000
Number of households using credit to cover basic living expenses: 7 in 10
Amount in tax breaks and subsidies that last year's energy bill paid out to the gas and oil industry during a period of record profits and higher prices at the pump: $6 billion
Campaign donations that Senator Kay Bailey Hutchison, who voted for the energy bill, received from the oil and gas industry: $500,000, making her the top recipient of oil contributions in the 2006 election cycle
Percentage of U.S. workers who are confident they will be able to live comfortably after retirement: 68
Percentage who have saved less than $25,000 toward their retirement: 53
Percent of African-American and Latino families that have zero or negative net worth, respectively: 31 and 38
Date on which USA Today reported that Dr. Anthony Griffin of the Beverly Hills Cosmetic Surgery Institute, who appears on the ABC program Extreme Makeover, predicted that CEOs will lead a surge in male cosmetic surgery because, he says, "for instance,executives on trial for corporatescandals would improve theirchances for acquittal with amakeover just before trial": November 4, 2006
Date on which the Dow Jones Industrial Average reached its all-time high: October 26, 2006
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