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Letter: Corporate greed hurts economy, not working poor
To the editor:
I fail to understand the comments in the editorial about unaffordable wage increases (Cost of Living Will Continue to Rise, Dec. 31 Capital News).
First: What wage increases? We also know that the main contribution to the economic recession was the greed on top, and not increases in wages, if there were any.
The reality is that some of the problems are the growing spread between the rich and the poor, the growing number of children living in poverty, the growing number of people going to food banks, including seniors, the shrinking of the middle income class and the growing of the low and poverty classes.
So, what needs to be done is to shift some from the top to the bottom. This will help the economy to grow and benefit all, even the tax payers.
For CEOs to make wages hundreds of times more than the average pay of their workers is outrageous and should be lowered to a reasonable amount. So its the incomes on top that are unaffordable.