America’s most important journalists live in a gilded bubble. Whether it is in television or print news, journalists who “make it” earn a tremendous amount of money – and that’s killing American journalism.
The New York Observer publishes an annual “media rich list” that details how much our journalists earn. Fox News show host Sean Hannity (pictured, right) topped the 2016 list last year with over $29 million in salary from two programmes.1 His progressive counterpart, MSNBC host Rachel Maddow, finished tenth by earning “only” $7 million.
This is a staggering amount of money. Mr. Hannity’s earnings, for example, would have placed him in the seventeenth slot among corporate CEOs in America, according to a New York Times analysis.2 He made more in 2016 than current U.S. Secretary of State Rex Tillerson did running Exxon Mobil, one of the largest companies in the world. He also earned more than the CEO of General Motors, America’s largest automobile company, and Howard Schultz, CEO of the globally ubiquitous Starbucks.
These people do not get to this level of wealth and status by delivering thoughtful, in-depth critiques of policy issues. Hosts like Hannity and Maddow entertain a consistent viewer base by reinforcing their biases. Guests on shows like these aren’t interviewed so much as either skewered like lambs to slaughter, if they represent views disfavored by the host, or used as props providing “expert” opinions that agree with the host’s. This format informs in the same way a pure sugar diet feeds a body: you get a lot of quick energy but very little that is truly nutritious.
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Print journalists also make incredible sums of money. While the salaries of leading columnists such as the New York Times’ Thomas Friedman or Paul Krugman are often “only” $300,000 or so,3 these stars of the printed page earn much more from book sales, contracts as consultants to television networks, or speaking fees in the neighborhood of $50,000 per talk. The fact that they won’t compete with America’s top fifty corporate CEO’s for compensation doesn’t mean they aren’t well ensconced in what some often call “the top 1%”.
Again, you do not get to this point by delivering unpredictable commentary. They are essentially advocates, lawyers who make the best cases possible for their points of view. The liberal economist and columnist Paul Krugman, for example, is regularly hoisted upon his own petard by conservatives pointing out his contradictions in the service of bashing Republicans.4 But let’s not just pick on Paul: plenty of journalists on the right have spent the better part of the last year contorting themselves into pretzels to explain why Donald Trump is the perfect expression of Republican Party or conservative principles.
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