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The problem is a greed and corruption, There is no way those CEOs worth billions of dollars. If you want to argue their intelligence, Most of them got where they are because they already came from wealth.
By the way the greatest minds, Scientists, Such as Einstein or Tesla weren’t wealthy.
Money hoarding is an addiction in itself, You don’t need that much money to live your life comfortably. Nobody needs three stories castle houses and multiple Lamborghini
only greedy person wants to possess that much.
Incentives and rewards can be developed it doesn’t have to be always monetary.
I’m not saying that doctor and janitor have to earn equally. Ultimately, The goal is to lift people from poverty, So any job should provide for basic needs which is food, Water, Clothing, Housing and utilities.
When you have full time job and can’t meet your basic needs, You know you are being exploited. Because minimum wage isn’t a living wage. Unfortunately many CEOs have mental disorders lots of them on the spectrum that ranges between Narcissism and Psychopathy. So, Psychopaths don’t care, They are looking for vulnerable people to exploit, Because they lack empathy naturally
Executive salaries, Like those of actors and sports players, Are no longer in touch with the reality of those end customers that pay for their services. It is one thing for someone that has invested his time to devlop a service or product, Taking the risk of loosing his home and family to earn millions on his risk. Executives are not risking their lives or their money to advance the companies that others have built.
Its already well proven fact that greedy big corporate fatcats bosses & CEOs do not really care about workers, With all the: benefits cuts, Cheaper consultants abuse, Offshoring to cheaper countries with lower wages (eg. Global-wide competitions abuse), Abusing unpaid interns as "co-op" jobs, And mass layoffs and restructing with whatever excuses the bosses will come up with. Shareholders come first, While lower level workers are treated like disposable slaves. The CEO's gets gold parachutes and gold-plated stock bonuses, While the workers gets nearly nothing in comparison. Top rich 1% vs the bottom 99%.
This massive income inequality and will lead to public distrust in big corporations, This will be the doom of developed countries society.
What does the rich CEOs and bosses and managers do to earn that much anyways? ! Aside from some golden handshakes, Deal making and scamming, And acting like rich sophisticated nobles?
Therefore, There should be society pressure to lower excessive CEOs & managers pay, To at most around 20x average wage, Or even lower, Depending on society needs.
The argument that it removes incentive is garbage. Is a company more successful if 99% of its staff is well-compensated and happy or if the CEO alone is compensated? In most industries, That's a no-brainer. The captain calls the shots, But can't operate the ship alone. CEO pay is ballooning out of control. Staff gets laid-off and the CEO gets a $4 million bonus. A hard cap would disincentivize, True, But if it's tied to worker wages, Then there isn't a ceiling. The carrot is just dangled in front of everyone, Instead of just the laborers. If you want to get and keep competent employees, Pay them and provide benefits, Otherwise you'll lose every employee who's skills begin to surpass.
Cap as in Capital yes it should be enforced they just give themselves all the benefits of capitalism at the expense of everyone else bonuses it’s just a free for all with them a complete takeover with everything in their favor! While the worker bees do all the labor and put up with the harsh realities of life and customer service the truly deserving masses entitled to their fare share of the wealth and benefits of “living” a good life not just sitting at their desks gloating at how successful they are at collecting money and praise
If left unchecked, greedy Capitalists are going to ruin Capitalism.
How much longer are the lower class and middle class citizens going to put up with this?
At the very least, the filthy rich should be encouraged to give back to society through means of philanthropy, charities, and such of their choice.
There's too much dead money sitting around and governments have to create ways to raise taxes or cut social programs to pay for their platform agenda.
I would say anything above $80 million in 5 years is excess, so my premise is anything earned (no matter the source) above $80 million in 5 years will be taxed at 100%. And at the same time do something about other countries as full co-operation from all countries is needed for this to work. I am pretty sure majority people in all countries, if not in duress, would prefer equality.
It is complete non-sense to think that any one person is worth BILLIONS. 20% of the world's population owns 94% of the world's wealth, there for 80% of the population owns 6%. The overwhelming response to a salary cap is "a big business owner will have no want to grow if they can't make more money" good then they will be unable to keep demand met in a competing market and a new smaller company will rise to meet the consumers demand, killing monopoly. Jobs will still be made and growth will still happen but it will be spread out. The biggest problem I can see is caps will NEVER EVER EVER happen, there is a saying "those who have the gold make the rules" simply put Big government and big business are the exact same people and they wouldn't put a cap on how much they make. Big business bought out our votes along time ago and people just don't seem to see it, donkeys and elephants make no diffrence any more.
There should be one.
Simply because when people allow themselves to be taken by greed, the entire company suffers. If a CEO of a 1,000-worker company who gained 15 million a year gained only 5 million a year, he could raise the yearly gains of every single worker by 10,000 dollars. No matter which way you cut it, it's a great deal for everyone involved. The CEO has happier workers who are more willing to go greater lengths for the company, and likely will get better service, and he still can keep the honestly absurd salary of 5 million dollars a year.
There is a point where taking home another million is a worse decision than sharing that million. Of course it's enjoyable to say "Yeah, I'm taking home 15 million bucks a year, suck on that.", because if you're a CEO, you worker for several years, maybe decades, to get to where you are. But losing contact with the reality of the people in the lower positions makes it so your decisions alienate them, and you run the risk of giving people awful, almost abusive conditions of work when you consider their minimal compensation.
Trump is the best president and there will never be an income ceiling if we get Trump in the office again. There should not be a cap because that would affect the amount of products sold. Which then would affect the economy and how it works. Which then people would get laid off work and then some jobs would go away.
From a regulator's perspective, What is the alternative? If you cap CEO salaries for all companies, Then at what level/formula and what will be the fallout; and if you look at say pharmaceutical companies, Will such measures be more likely or less likely to bring about finding new drugs - take away the incentive and what happens then? There are plenty of good CEO's and surely a $10m salary is enough for anyone. On the other hand, If you set a cap at $10m would this stop companies getting the best talent and performing at their best? Amongst all this there is the issue of Kudos - on one view Kudos ought to be enough incentive on top of the salary. After all, Judges have fixed salaries - why do they accept the job?
If you set a cap at $10m for CEO's of public companies are likely to be encouraged to find a way to outsource management to private companies (a less efficient and less clean alternative) where salaries within private companies are not regulated. It would be very difficult to police this, And woulld introduce unwelcome murk, Bigtime. We do not need more murk, There is enough as it is.
The ceo's position based on the supply and demand curves in the labour market perspective firstly would put the ceo as close to the Y ( wage ) axis as possible as they are a single character in the business as there is no supp,y of people in the position. Ceo's are regularly over qualified and extremely experienced and are heavily impactful of what a company will do in the future so they deserve what they want to be awarded as they are also the ones choosing the wages for the workers. Most people saying that there should be a cap are from people who are too emotional about their wages and want the CEO to suffer also.
People who support these radical ideas are often acting purely out of emotion. The market will determine what an executive receives in salary, and if a limit were to be imposed they would be compensated in bonuses, stock, etc.. There is no reason to believe this would have any positive effect on the economy or the average worker except to tend to a knee jerk emotional response that they may be experiencing.
There's definitely many ways where corporate can find many loops around the income constraint. There is a need on wage, revenue, expenses, etc, i can ramble on how many ways you can find a loop hole. The sad fact is, ceo owners would have to reconstruct ledgers, balance sheets, income sheets. So the question is, why would someone in power waste their own time to make them selves less powerful. There isnt any incentive behind this. Also, sociologist are trying to find a way to fix this(global inequality), but they cant. They rarely know anything about business to begin with/economics.
Credibility-UCSB econ/accounting major with a sociology major as well.
The Post Office looses $6 billion a year and the CEO has a salary cap. It is also the board's decision and the shareholders' decision to decide on the CEO salary. The people who complain about the CEO pay do not even own any of the company so they have no say.
Previous attempts to limit CEO compensation have failed, as corporations find new and more inventive ways to compensate executives. Would the income ceiling include things like executive housing? Would it include company vehicles? Would it include use of the company jet? All of these things can be offered as incentives to avoid income ceilings, and since all companies would be tied to the same ceiling, they would compete to find the most inventive ways around it and attract the best executives. A better solution would be to tie CEO pay to employee pay. For instance, a CEO's salary can only be 12 times higher than that of the average employee. This would give companies an incentive to raise average pay so that they can then offer more salary to get better executives.
If a CEO is paid more than others, it is because their work if valued higher. Corporations use the principle of supply and demand applied to salaries to hire the best in the field, so it makes no sense to put a salary cap on the labour market simply because you think it's not "right". That's just plain tall poppy syndrome at work, and you need to fix that.
Workers should get paid what they are worth. CEOs are no exception. If the CEO's performance is so outstanding that the company chooses to pay accordingly, there should be no ceiling on the amount that the company can pay. It is a decision that should be left to each company - there should be no compensation ceiling.