In Las Vegas, you don’t have to be a gambling addict to strike it rich. In fact, you only need to become a union boss and the odds are, you too can be a ‘one percenter.’
According to the Las Vegas Review-Journal [emphasis added]:
In 2009, the last year for which a required Internal Revenue Service report is available, more than a third of the union’s $4.1 million budget went to pay just nine leaders. Each earned between $139,785 and $208,683 for a total of $1.5 million, according to the Clark County Education Association’s report to the IRS.
John Jasonek, then executive director, got $208,683 for running the union but also received $423,863 from two affiliated organizations — the union’s Community Foundation and Center for Teaching Excellence — making his total pay $632,546.
In addition, union-created Teachers Health Trust CEO Peter Alpert was paid $546,133.
Unfortunately, unlike the one-armed bandits that line the Vegas Strip, becoming rich as a union boss is a little less random. [Hint: Knowing someone helps.]
“The problem with socialism is that eventually you run out of other people’s money.” Margaret Thatcher