The Dodd-Frank Act of 2010 requires corporations to disclose their CEO-to-median worker pay ratio, but that information is still being hidden from workers, shareholders, and the American public.
That's why the AFL-CIO, MoveOn.org, CREDO Action, and other groups delivered a massive petition to the Securities and Exchange Commission last week.
That petition included more than 165,000 signatures of individuals who want the SEC to implement that disclosure policy, which was approved under the financial reform law five years ago.
Decades ago, CEOs made thirty or forty times what they paid their average worker, but today, that ratio often exceeds 300 to one. And, CEOs don't want us to know how high those ratios are because they know how we would react.
In a press release about their petition, Justin Krebs of MoveON.org said, “Americans have made it very clear – they want an economy that works for all workers and not just for CEOS. They was a level playing field. The grassroots movement to demand a new and transparent economic fairness has been growing all year and now over 165,000 Americans have joined in calling on the SEC to act.”
Well said, Justin. Now it's time for the SEC to take this step towards economic justice.
