Something is seriously wrong. With America.
According to filings made public yesterday, Stephen Schwarzman, CEO of Blackstone, a public company, took home more than $800 million in compensation last year. That breaks down to roughly $2.2 million per day and $92,000 per hour. Over the past five years, his compensation yielded him more than $3.2 billion.
The same day, we learned from a survey that 11 percent of the employees at Disneyland had been homeless at one point in the past two years. And that 73 percent of Disneyland’s employees don’t make enough to cover basic living expenses.
The same day one of my clients mentioned to me that some mattress vendors have to stock their own displays in Walmarts because the people employed by Walmart have trouble lifting the heavier items. The people stocking at night (between midnight and 5 a.m.) tend to be women over the age of 50.
A large percentage of hardworking Americans are struggling to make ends meet while Mr. Schwarzman pulled down more than $3 billion the past five years. People can’t afford basic healthcare, and our nation’s students are up to their ears in debt ($1.5 trillion).
And to rub salt into the wound, Mr. Schwarzman, a major supporter of Mr. Trump, and other fat cats just got a huge tax cut, which will be funded by debt (that is, debt that every American will have to repay at some point, with interest, including the stockers at Walmart).
Something is wrong with America. Seriously wrong.