The income disparity between a company’s Chief Executive Officer (CEO) and its “workers’ is immoral and “something we must work to change,” House Speaker Nancy Pelosi (D-Calif.) said Thursday.
Addressing the 2019 Health Action Conference hosted by Families USA in Washington, DC., Pelosi said “disparity in income in our country is immoral” – especially, in the case of CEOs:
“We're at a time when the disparity in income in our country is immoral. It used to be, maybe 40 some years ago, that the CEO earned 40 times what the workers did. When productivity went up, the income went up of the CEO and of the workers. That changed over time, because it was all about the bottom line and quarterly reports, and now the difference disparity between the CEO and the workers is more like 350 or 400 times.”
Pelosi said that Democrats were elected to end the “sinful” pay disparity and it’s their “agenda” to do just that:
“Many CEOs have already made what their workers will make working all year. Some of them did it in the first few days of this year. Certainly within the first week. That is an immorality, it is indecent, it is sinful, and it's something that we must work to change."
“Our ‘For The People’ agenda, which was our election and is our promise. And, that is our agenda as we go forth.”