‘Free Enterprise’: Mike Pence Has No Beef With CEO Pay As Auto Workers Strike

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Former Vice President Mike Pence pivoted to speak of “free enterprise” after CNN’s Jake Tapper confronted him with examples of pay disparity between CEOs and staff amid the United Auto Employees strike.

Tapper, in an interview with Pence on Sunday, requested the GOP presidential candidate about an “challenge of common equity” as he introduced up the distinction in pay after staff started a strike in opposition to the “Large Three” automakers on Friday.

“In 1965, throughout this period of the nice middle-class enlargement in the USA, CEOs made about 20 instances what their typical staff made. However, as I famous to you, the CEO of [General Motors] makes 362 instances what her typical staff make,” Tapper famous earlier than his query to Pence.

“I simply wish to be sure I get a solution from you. Is that OK? Do you assume that’s truthful?”

Pence informed Tapper that it ought to be left to the shareholders of GM.

“I’m anyone that believes in free enterprise. I believe these are selections that may be made by shareholders and creating stress,” Pence stated.

He continued: “And I’ll absolutely help how these publicly traded firms function. I’m not concerned about authorities mandates or authorities bullying in terms of these type of points.”

The strike – which 75% of Individuals help – marks the primary time that the UAW union have taken half in a simultaneous work stoppage at Ford, Common Motors and Stellantis.

About 150,000 union members work on the three automakers whereas others depend on manufacturing on the firms, as properly.

UAW President Shawn Fain pointed to the hourly beginning wage of an Ohio plant employee in comparison with the pay of the GM CEO Mary Barra, including {that a} newly employed particular person “must work full time for 16 years to earn what” Barra makes in per week.

Pence, who has blamed the strike on Biden’s financial insurance policies, stated he doesn’t assume the strike is “in regards to the regular fault traces” of wage variations between white-collar and blue-collar staff.

The previous vice chairman, when requested whether or not he sides with the CEOs or the union, stated: “I aspect with American staff. I aspect with all American households. I aspect with the folks of this nation, Jake, which can be dwelling underneath the failed insurance policies of the Biden administration.’”

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