Kevin Drum on income inequality and excessive CEO Pay

Kevin Drum addresses several economic issues of interest to almost all of us.

• Personal income of the top 1% has sharply increased recently.
• Public policies have been responsible for the increased income inequality.
  
• The people who are getting the greatest increases in personal income say this is the way the economy is supposed to work and that nothing else is workable.
  
• The LA Times has started reporting the percentage of company profits which CEO pay has cost the companies with the 100 highest paid CEOs in California. Apparently CEO pay is now so high that it is dragging down corporate profits. (Kevin then suggests that this be reported for the top dozen or so executives, and sit back and watch the as the shock runs through shareholders.)

I'd like to see that last bullet-point made part of the mandatory SEC reporting by all public companies, and by all companies operating in the United States including foreign and non-public ones if that is possible.

It would also be very interesting to see if the figures could be compared across nations. I don't think very many non-executives understand how much American executives are overpaid.