The untrustworthy

Take a look at this Threads post. It is accepted on its face by thousands of people – because it’s what they want to believe.

The post is part of the effort to scapegoat CEOs and business in general and in the process create more division among Americans. Reich is a former Secretary of Labor under Clinton so he knows exactly what he is doing when he misleads people.

• McDonald’s CEO salary is not $19.2 million
• The bulk of his compensation is paid by shareholders
• Divide the number of burgers McD sells each year in the US alone by the CEOs total compensation and the absurdity of this statement is apparent.

The bulk of the CEO pay package came in the form of stock and option awards, which total about $13 million. He was paid a base salary of $1.4 million and received just over $4 million in incentive compensation—the bonus was about $200,000 less than he received in 2022.

• The McDonalds corporation doesn’t run most stores where you buy your burger

There are over 36,000 locations worldwide, of which only 15% are owned and operated by the McDonald’s corporation directly. The rest are franchisee-operated.

Franchise owners determine the specific wage rates for the employees they hire.

If a local store owner raises wages – and related costs like payroll taxes – there will be a direct impact on costs that may well be reflected in the price of food.

The fact is CEO compensation in any large US corporation has insignificant impact on worker pay.