Populism pays well

As John Edwards campaign appears to be reaching its end, its relevance has been debated. Some think that his run has pushed the centrist candidates towards his line of populism. Blame the greedy corporatists for the failings of the middle class. Sen. Clinton recently described her cure, though in rather vague terms, to build up the middle class. As noted in the interview:

She said that economic excesses — including executive-pay packages she
characterized as often “offensive” and “wrong” and a tax code that had become
“so far out of whack” in favoring the wealthy — were holding down middle-class
living standards.

While reading the Wall Street Journal online, there was a story of yet another outrageous executive-pay package that might be labelled as offensive and wrong.

Former President Clinton stands to reap around $20 million -- and will
sever a politically sensitive partnership tie to Dubai -- by ending his
high-profile business relationship with the investment firm of billionaire
friend Ron Burkle.

For some perspective, compare that to average CEO pay in 2006.

The average CEO of a large U.S. company made roughly $10.8 million last
year, or 364 times that of U.S. full-time and part-time workers, who made an
average of $29,544, according to a joint analysis released Wednesday by the
liberal Institute for Policy Studies and United for a Fair Economy.

So Bill stands to make almost twice as much as the average CEO. Would that mean he is twice as greedy as the average corporatist?

But Sen. Clinton's husband's hobnobbing with billionaires and wealthy foreigners aside, what about the substance of her argument. She complains about Bush era policies that have led to these imbalances between bosses and workers. If Clinton has been honest, then the numbers should show that CEO/worker pay ratio would be much higher under Bush than under the Clinton/Clinton administration.

That gap is down from 411 times in 2005 and well-below the record high of
525 times recorded in 2000

So the rich did better under Clinton. Looks like Hill should reverse the policies of Bill instead of Bush. While the average CEO did better under Clinton, in comparison to the average worker, there is one business man who is doing better under Bush. Bill Clinton only made $200,000 in 2000, he now stands to pull in a quick $20 million.