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I don't think so. Probably leave the US completely and make HQ in another more business friendly country.
And how would you enforce this on publicly traded companies not in the US ??
yeah..great idea...very well thought out.
oh, it was pure speculation. Kind of the point is, whatever current "Fortune 500" company who put huge limits unilaterally on THEIR CEO's pay would quickly find themselves individually with the 500th best CEO, if that.
But I don't believe a company Board is going to relocate randomly because their CEO's pay got limited. They don't move for $30-100MM. They move for Billions.
And CEO pay wasn't so outsized until Clinton. Here's a Politico article
Now, "the government" is horrible at solving problems. If there was a solution, it could be relatively easy, such as "total value of compensation cannot exceed 200x the median compensation". The Congress would turn that into 47 pages.
Even if they are eventually forced out, they get a golden handshake often worth millions. The workers get fired without notice and often with no severance.
Many pro athletes get guaranteed contracts. Young guy that I watched play in Highschool in recent years I just read signed a 72million dollar+ NFL contract.
Workers get unemployment and severance (in most cases).
So essentially, we get a lot of posters here that cannot fathom what running a company is like and how the CEO is meaningless and just got the job by random chance apparently without in most cases putting in decades of 70-80 hour weeks and understanding markets, sales, finance etc.
Are they all good? Oh heck no, but at the same time look around pro sports with bust guaranteed contracts.
Heck the coaches in pro sports make huge money.
You are entirely looking at the problem upside down.
Is it that the CEO's entertainers, sports figures etc. make too much? Or is it the fact that we can off-shore jobs, or on-shore illegal competition for jobs that once upon a time that paid well?
I got a kid making 100k a year now, 2 years out of school (just a 4 year degree). I was making half that, similar job. Inflation.
Years ago, my uncles in todays dollars were making 100k a year in a steel mill and those jobs are now in China. Factory work 30 years ago in my childhood town was paying about 30k with benefits. Why is it not much (if at all) better than then? Because we can off-shore it and hire illegals. #wagestagnation
Hope that helps you understand which end of the horse you've been looking at and need to contemplate whom distracted you by doing so and why. Seems like they're trying to misdirect your anger for some reason.
If you want to make the same amount of money that "EVIL" CEO makes, you have every right to go out there and do the work. Stop being the victim and coming up with more problems than solutions and blaming everybody but yourself for where you are at in this life.
It's not the CEO's who are the problem. It's the people who hire them.
Evil boards of directors? They might be the apex of evil but as critical thinkers we should consider who hires them. Maybe that's where the true insensate evil lies. The shareholders. You. Me. We have met the evil and it is us. Well maybe just me. I doubt you own a single share of stock or ever will otherwise you wouldn't post something so informationally deficient. You've missed so much of the fun though while being poor and not evil. You've also missed 1st class, home ownership and dining on immigrant orphan babies. It's been a blast.
I just don't get why people need money after a certain number. Like at some point you've got so much money you basically just have infinite money. You could never spend it all.
And what number would that be? Because family fortunes get squandered all the time.
Quote:
90 percent of wealthy families lose their wealth by the third generation.
Millionaires and billionaires create jobs. Jeff Bezos with Amazon created 1.6 million jobs. How many jobs have you created?
If the ultra wealthy derive their worth and define themselves through actively working, so be it. Many aren’t earning a salary and instead have their net worth tied into stock options.
Get a calculator out. Where is the zero? Has it moved? No? Then the gap CAN only get bigger - because the entire idea of "saving for retirement" is that your investments grow - and a growing investment means things are worth more. Ya know what's NOT worth more? ZERO.
It means there is always a segment of the population earning zero - that ain't ever changing. Zero ain't moving.
There is no way - just talking math here - that you can support "investment" of any kind without simultaneously supporting an increasing wealth gap. Seems simple to me - and doesn't bother me at all, because without that I will never retire.
Where did ya want to draw the line? 1900? 1940? 1980? 2000? The wealth gap WILL increase. That's how the system works.
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