Union bosses have been engaging in class warfare for so long now that it’s become standard for the media to echo the meme without challenge. An example of such mainstream Marxism is in today’s Bloomberg piece entitled ‘Runaway CEO Pay’ Could Support 102,000 U.S. Jobs, AFL-CIO Says. Bloomberg’s piece relies heavily on the AFL-CIO’s Executive Pay Watch, which was set up years ago to conduct a haves vs. have nots class warfare campaign to eventually have CEO pay limited by law or regulation. This was something union bosses accomplished to some degree with last year’s “Wall Street Reform.”

However disdainfully un-American it is to argue whether someone makes too much money in what was once the nation known as the land of opportunity, sometimes you have to roll with the pigs in the pigsty to show how stupid their arguments are. So here goes:

Here is the AFL-CIO’s statement:

In 2010, Standard & Poor’s 500 Index company CEOs received, on average, $11.4 million in total compensation. Based on 299 companies’ most recent pay data for 2010, their combined total CEO pay of $3.4 billion could support 102,325 median workers’ jobs.

Using a simple calculator, it is easy to determine that the “workers’ jobs” would pay $33,227 per year (about $16 per hour), not counting union dues, of course.

Given the AFL-CIO’s penchant for pushing an eat the rich ideology, it seemed worthwhile to use the unions’ own logic to run our own set of numbers to determine how many workers’ median jobs one years’ worth of union dues could support.

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A year or two ago, only the most radical leftists would have dreamed that we’d be living in a country where the government owns a majority share in GM, bailed out private insurers, took over Fannie Mae and Freddie Mac, and handed over billions of dollars to the financial sector.

It continues to bailout homeowners doing more of the same policies that put us in this mess in the first place. The government now plans to bailout seniors and small businesses and it won’t be long before Obama proposes to bailout children. Also,  as the debate over health care reform continues, we are left to wonder: how much is this going to cost us? One trillion dollars or two?

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