Houston, Texas-Based Natural Gas Transmission Company Targa Resources Corp's Top-Tier Executives Average Pay Raise Was a Very Clean, Off-the-Charts 46.9% Per Year During the Past Ten Years (2009-2018)

The third Democratic 2020 Presidential candidate televised debate will be held in Houston, Texas on September 12, 2019.  Texas is also the home state of Julian Castro and Beto O'Rourke, who have both gained significant momentum in the past month.

The key issue to Texas citizens should be the huge and continuing Income Inequality Expansion which is at the core of many critical problems the US faces.

Thus I will be doing research and making posts on the average pay raise per year that the Top-Tier Executives of large Texas Companies were rewarded with in the past ten years.  I completed my study of large Texas Non-Oil &  Companies and now I have started studying large Texas Oil & Gas Companies. 

The 28th Texas Oil & Gas Company I am addressing here is Targa Resources Corp.

From annual compensation information contained in Company Proxy Statement filings with the US SEC, the chart at the very bottom below shows Targa Resources Corp's Top-Tier Executives Annual Total Compensation for each of two consecutive full years of employment for the past 10 years.
  
Targa Resources Corp's Top-Tier Executives Average Pay Raise was a very clean, off-the-charts 46.9% per year for the past ten years, which is the 4th highest of the 28 large Texas Oil & Gas Companies I have addressed so far.

1. Cheniere Energy Inc +141.9% per year for the past ten years
2. Kinder Martin +115.8% per year for the past ten years
3. Diamondback Energy +52.9% per year for the past seven years
4. Targa Resources +46.9% per year for the past ten years
5. Concho Resources +31.2% per year for the past ten years
6. Marathon Oil +23.3% per year for the past ten years
7. Energy Transfer Companies +19.2% per year for the past ten years 
8. FMC Technologies +17.1% per year for seven years
9. Spectra Energy Corp +16.4% per year for seven years
10. Enterprise Products Partners +16.2% per year for the past ten years
11. ConocoPhillips +14.8% per year for the past ten years
12. Pioneer Natural Resources +14.4% per year for the past ten years
13. Halliburton +14.3% per year for the past ten years
14. Occidental Petroleum +14.3% per year for the past ten years
15. Western Gas Partners +13.3% per year for the past ten years
16. National Oilwell Varco+13.1% per year for the past ten years
17. The New Baker Hughes, a GE Company +12.2% per year for the past three years  
18. Plains All America Pipeline +10.4% per year for the past ten years
19. Cabot Oil & Gas +10.3% per year for the past ten years
20. Valero Energy Corp +10.1% per year for the past ten years
21. The Old Baker Hughes Inc +9.9% per year for eight years excluding Golden Parachutes Pay
22. Schlumberger Limited +9.6% per year for the past ten years
23. Apache Corp +8.4% per year for the past ten years
24. Noble Energy Inc +6.5% per year for the past ten years
25. Phillips 66 +5.4% per year for the past five years
26. EOG Resources +5.1% per year for the past ten years
27. Exxon Mobil +1.2% per year for the past ten years
28. Anadarko Petroleum +1.1% per year for the past ten years

There have been many US Government laws enacted in the past two decades that have substantially increased income inequality expansion, but none more so than the Trump Tax Cuts Act.   

On the other hand, the only highly effective US Government law enacted by either party in the past two decades that has substantially reduced income inequality expansion is Obamacare.

My objective is to get a better handle on just why the US and particularly here Texas has such massive continuing Income Inequality Expansion ..... it appears to be predominantly about the relative long-term annual pay raise percentages for the executives of a Company vs the many non-executive employees of a Company, coupled with the stock price appreciation subsequent to the time the company executives were rewarded in their pay with stock equity compensation.

To fix Income Inequality driven mainly by Company and its Board of Director choices on Percentage Annual Pay Raises, the US Government should step in and pass wisely-designed, simple but effective Fair Pay Raise Income Inequality Narrowing Company tax incentives for rewarding non-executive employees with fair pay increases ..... the carrot ..... and Company tax disincentives for rewarding executive employees with clearly excessively high pay increases ..... the stick.  I am certain ..... it is simple math ..... that this tax proposal would be very effective in substantially reducing the huge income inequality expansion that has occurred for decades in annual percentage pay raises between company executives and the rest of the company employees. 

And the continuing annual net tax revenues raised by the US Government here should be set up in a separate fund to be used only for wise additional income inequality narrowing initiatives.  This fund should be run by an outside group made up entirely of minorities harmed the most by Income Inequality Expansion of the past decades  .....all women, all blacks, all Latinos, all other non-white people, all past and present union members, all LGBTQ, all non-employee contract workers and all middle and lower income people of all ages, including those retired.

Also, the US Government should require all US Corporate Boards to include at least one worker representative and to exclude any Company Executive.

Further, the US Government should ban Golden Parachutes.

	FYE	FYE		FYE	FYE		FYE	FYE		FYE	FYE		FYE	FYE
	Dec	Dec		Dec	Dec		Dec	Dec		Dec	Dec		Dec	Dec
Targa Resources	2018	2017		2017	2016		2016	2015		2015	2014		2014	2013
Top-Tier	Total	Total		Total	Total		Total	Total		Total	Total		Total	Total
Executive	Comp	Comp		Comp	Comp		Comp	Comp		Comp	Comp		Comp	Comp
	$ 000s	$ 000s		$ 000s	$ 000s		$ 000s	$ 000s		$ 000s	$ 000s		$ 000s	$ 000s
Joe Bob Perkins CEO	13,482	5,322		5,322	3,989		3,989	2,787		2,787	3,249		3,249	2,470
Meloy President	5,570	5,815		5,815	1,641		1,641	1,037		1,037	1,471		1,471	1,053
McDonie President Gathering&Processing	3,101	4,644
Pryor President Logistics&Marketing	3,101	4,633
Chung General Counsel	3,590	2,729		2,729	1,893		1,893	1,306
Heim Vice Chairman of the Board							2,512	1,833		1,833	2,624		2,624	2,069
McParland President Fince and Admin							1,931	1,332		1,332	2,070
Joyce Executive Chair of the Board													2,685	2,587
Totals	28,844	23,143		13,866	7,523		11,966	8,295		6,989	9,414		10,029	8,179
Annual % Change vs Prior Year	24.6%			84.3%			44.3%			-25.8%			22.6%
5 Year Average Per Year % Change		30.0%
	FYE	FYE		FYE	FYE		FYE	FYE		FYE	FYE		FYE	FYE
	Dec	Dec		Dec	Dec		Dec	Dec		Dec	Dec		Dec	Dec
Targa Resources	2013	2012		2012	2011		2011	2010		2010	2009		2009	2008
Top-Tier	Total	Total		Total	Total		Total	Total		Total	Total		Total	Total
Executive	Comp	Comp		Comp	Comp		Comp	Comp		Comp	Comp		Comp	Comp
	$ 000s	$ 000s		$ 000s	$ 000s		$ 000s	$ 000s		$ 000s	$ 000s		$ 000s	$ 000s
Joe Bob Perkins CEO	2,470	1,917		1,917	1,766		1,766	5,037		5,037	1,753		1,753	662
Meloy President	1,053	863		863	644		644	933
Heim Vice Chairman of the Board	2,069	1,766		1,766	1,568		1,570	4,519		4,519	1,536		1,536	624
McParland President Finance and Admin										4,168	1,369		1,369	566
Joyce Executive Chair of the Board	2,587	2,525		2,525	2,623		2,626	6,911		6,911	2,267		2,267	738
Whalen Advisor to Chairman and CEO	1,835	1,792		1,792	1,765		1,774	4,804		4,804	1,306		1,306	662
Totals	10,014	8,863		8,863	8,366		8,380	22,204		25,439	8,231		8,231	3,252
Annual % Change vs Prior Year	13.0%			5.9%			-62.3%			209.1%			153.1%
5 Year Average Per Year % Change		63.8%
10 Year Average Per Year % Change		46.9%