What would be truly heroic is if Disney used its profits from Avengers to pay all of its workers

[Uncle Joe]

Link to tweet

Sen. Bernie Sanders (I-Vt.) on Monday called on Disney to use profits from its "Avengers: Endgame" record-breaking opening weekend to pay all employees "a middle class wage."

The Vermont senator and presidential candidate linked to a Bloomberg article on the superhero film’s opening weekend box office returns, an all-time high of $1.2 billion worldwide.

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In a discussion and viral Twitter thread earlier this month, Roy Disney’s granddaughter Abigail Disney said Iger’s compensation "is insane" and called on the company to shift "some of the profits" to rank-and-file employees.

"There’s a point at which there’s just too much going around the top of the system into this class of people who — I’m sorry this is radical — have too much money," she said.

https://thehill.com/homenews/senate/441237-sanders-suggests-disney-should-use-avengers-profits-to-pay-all-of-its-workers

[Funtatlaguy]

1. Hahaha...a corporation doing that....hahaha🤪🤪🤪

[BannonsLiver]

2. Yes

It’s as if they are....trying to make money?

[BlueFlorida]

3. Bernie doesn't get one thing

It is the stockholders who decide CEO salaries because it is their money. They have the investment at risk.

Disney stockholders include a lot of average people's 401-Ks and while Bernie's slogan looks good, if Disney's profits plummet, the stock values will plummet and a lot of people's 401-Ks will drop as well, affecting their retirement.

Bernie's one dimensional thinking doesn't see that he ends up hurting one group of average people for the benefit of another group of average people only to get some votes.

We need a multi-dimensional, multi-faceted thinker who understands the complexities of the financial system and the one who knows that it is a zero sum game.

Will Bernie rail against Tom Brady's salary being so much higher than a linesman?

[Uncle Joe]

4. Speaking of multi-dimensions

40% of Americans can't cover a $400 emergency expense

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Still, many are struggling. Notable differences remain across race, ethnicity, education levels and geography. The report shows hardship continues for people working to repay college loans, cover emergency expenses and manage retirement savings.

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"The finding that four-in-ten adults couldn't cover an unexpected $400 expense without selling something or borrowing money is troubling," said Greg McBride, chief financial analyst at Bankrate.com. "Nothing is more fundamental to achieving financial stability than having savings that can be drawn upon when the unexpected occurs."

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More concerning are the 25% of Americans with no retirement savings whatsoever, according to the report.

Some of this may be due to the lack of employer-sponsored retirement plans, as well as people piecing together several part-time jobs, which may not offer benefits.

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https://money.cnn.com/2018/05/22/pf/emergency-expenses-household-finances/index.html

Millennials born in 1980s may never recover from the Great Recession

The net worth of a typical family headed by someone born in the 1980s was 34% below what was expected, according to a new Federal Reserve Bank of St. Louis study titled "A Lost Generation?"

What's worse, the typical 1980s family lost ground between 2010 and 2016, after the recession ended. These folks, who were in their late 20s and early to mid 30s in 2016, were the only age group to do so out of the six cohorts studied.

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Those born in the 1980s were not the only group to fare worse than expected. Americans born in the 1960s and 1970s accumulated 11% and 18% less wealth respectively in 2016 than predicted. This is worrying, but these cohorts -- who are now generally in their 40s and 50s -- had narrowed the gaps considerably since 2010.

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Instead, the problem is more likely a result of debt and homeownership. Families headed by someone born in the 1960s and 1970s were more likely to own homes than expected prior to the Great Recession. But their homeownership rates fell significantly below predicted levels by 2016. Still, as the housing market recovered in recent years, those that did own property were able to recover some of their wealth.

(snip)

https://money.cnn.com/2018/05/22/news/economy/1980s-millennials-great-recession-study/index.html?iid=EL