In recent ads, Obama uses the claim that rich CEO's make more in 10 minutes than the average worker earns in a year. Sounds great. Problem is, it is flat
out wrong.
Doing the math, let's assume the "average" worker makes only $20,000 per year (more realistic is about $41,000). In order for a CEO to make this amount in 10 minutes he would have to earn $120,000 per hour. Assuming that the CEO works only a standard 2,080 hours per year that translates to $249,600,000 per year. Yeah, a lot of CEO's make that. Using the more realistic $41K per year and a 60 hour work week for a CEO (I don't know any CEO's of large companies that don't do at least this much), the number balloons to $767,520,000.
I really want to believe that Obama could be a legitimate alternative, but the more I hear and see the less I like. He is a figure that could provide an inspiring, "Presidential" leader. This would be a welcome change from W.
Doing the math, let's assume the "average" worker makes only $20,000 per year (more realistic is about $41,000). In order for a CEO to make this amount in 10 minutes he would have to earn $120,000 per hour. Assuming that the CEO works only a standard 2,080 hours per year that translates to $249,600,000 per year. Yeah, a lot of CEO's make that. Using the more realistic $41K per year and a 60 hour work week for a CEO (I don't know any CEO's of large companies that don't do at least this much), the number balloons to $767,520,000.
I really want to believe that Obama could be a legitimate alternative, but the more I hear and see the less I like. He is a figure that could provide an inspiring, "Presidential" leader. This would be a welcome change from W.
