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You can find that in Japan where the ratio of CEO pay to employee pay is 10:1 rather than 475:1. The corporate culture of Japan is also the same culture that is more organized during disasters than the American culture.
Salaries in the US used to be more in line with that, before so many tax cuts. To rein in executive pay, it's easy, you just raise the tax rate to above 50%. NO board of directors would approve astronomical salaries or bonuses if most of it would go to the IRS. That would be considered a waste of money, just feeding the gov't. This isn't rocket science. Set a tax rate of 60%, and watch executive pay shrink back to reasonable levels. And watch the federal budget begin to balance out.
What is it you think will be accomplished by raising taxes on corporations and business's other than the cost of products going up?
The "raise taxes on corporations" mantra gets a lot mileage for many politicians but you fail to realize that ultimately you're just asking to be taxed yourself. You will be the one buying products from these companies at increased costs. The politicians love it because this tax you are paying is nicely hidden away in the cost of products where you the consumer never see it as a tax.
I haven't heard anyone in a responsible position talk about raising taxes on corporations. They've talked about lowering the corporate tax rate to a level competitive with teh rest of the world--that was part of the President's state of the union address twice. Both sides have talked about tightening the loopholes that let some corporations pay nothing, and the democrats have talked about targeting tax incentives to companies who create jobs here at home.
Raising taxes on INDIVIDUALS is not the same as raising taxes on business or "job creators." We need to lower business taxes--businesses create jobs. People don't hire employees with their personal taxable income--the salary they pay themselves from their company. They hire employees through the business.
America is run by corporations and they have plenty of obedient, loyal doggies on their side. Many are regulars on this forum.
Thanks for the heads-up, I was beginning to suspect this.
mb1547: I think small businesses need support, I can't argue with you there. I don't entirely buy the argument that big corporations need to be tax-free. I understand the argument that they'll just pass the tax on to the consumer. But maybe that's worth it; have each person pay a few more cents per product, in exchange for a whole pile of dough coming into public coffers. Kinda sounds like a good trade-off, IF that's the way it really works.
Last edited by Ruth4Truth; 04-22-2012 at 05:36 PM..
To rein in executive pay, it's easy, you just raise the tax rate to above 50%. NO board of directors would approve astronomical salaries or bonuses if most of it would go to the IRS. That would be considered a waste of money, just feeding the gov't. This isn't rocket science. Set a tax rate of 60%, and watch executive pay shrink back to reasonable levels. And watch the federal budget begin to balance out.
Do you have anything at all to back up this assertion?
Do you have anything at all to back up this assertion?
Simple observation of the effects of the Reagan-Bush tax cuts, and overhearing corporate lawyers and others talk about these things back in the days of high taxes. Corporate big-wigs hated paying "their share" of taxes, and considered it to be money thrown down a black hole, but look what a prosperous society it created! There was a strong middle class, and strong upward mobility, both of which are absent today. And executive pay was only 2-4 times more than top employee pay (roughly), not 10 or 20 times more. The higher tax rate acted as a check to executive pay.
P.S. Sam: at least you're honest! I just saw your "pissed-off member" membership status. I respect honesty.
btw, I already published my taxes-to-control-exec-pay idea in the NY Times. You can't steal it. I see you're in DC...
Last edited by Ruth4Truth; 04-22-2012 at 06:13 PM..
That money's going to China to pay off the loans Dubya borrowed for his tax cuts.
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