This phenomenon is not something new. The Ballard News reported on the same things happening in April 1913 (exact date unknown). Oilmen and grain brokers from Chicago were making over $50 thousand dollars a year. In modern currency, that is about $1.4 million. Corporate fat cats were not alone. President Taft was in office from 1908 to 1912 and made $75 thousand a year, which is the modern equivalent to $1.7 million for serving as master and chief of the free world. Currently, President Obama makes an annual salary of $400 thousand, plus perks like a travel expense account.
Meanwhile, in the world that most of us live in there is heavy dispute and deliberation over a $15 minimum wage at Seatac and potentially in Seattle.
100 years ago State Senator George U. Piper introduced Washington’s first minimum wage bill. The wage varied in industries but hung around $9 a week for women and children. Since then Washington State has wavered a bit, but has had largely progressive minimum wage laws.