I also think legislation is a long road that could leave different loop holes. I’d be interested in others thoughts on a variety of approaches here, maybe some form of credit based on percentage of employee compensation related to performance. Obviously there would need to be an incentive to pay employees more and attach it to executive incentives.
Cap CEO compensation to a percentage of the median employee salary. (obviously a bit of legalese is needed to define this exactly so there is no loophole)
Never work. There are too many ways around “compensation”.
For example, the company purchases a piece of art from the CEO’s wife, to display in their lobby. That wouldn’t be considered compensation for his “services” as CEO.
No, the tax structure is a better option. Close the ability for them to invest their excess income in financial assets. Allow them to reduce their taxable income through deductible expenses for tangible goods and services. Crawl up their asses when they try to justify objects with intangible value like artwork, but look the other way when the purchase is of a product or service produced by workers.
I’d impose a securities tax as well: tax a percentage of all registered securities, payable in shares of the security. Transfer the shares to an IRS liquidator, who sells them off slowly over time. Limit the liquidator to a maximum of 1% of total traded volume to minimize the effect on the market price. Exempt the first $10 million held by natural persons from the tax. Suddenly, nobody wants to hold more than $10 million in shares.
I certainly won’t say I’m an expert on the topic.
I also think legislation is a long road that could leave different loop holes. I’d be interested in others thoughts on a variety of approaches here, maybe some form of credit based on percentage of employee compensation related to performance. Obviously there would need to be an incentive to pay employees more and attach it to executive incentives.
Cap CEO compensation to a percentage of the median employee salary. (obviously a bit of legalese is needed to define this exactly so there is no loophole)
Never work. There are too many ways around “compensation”.
For example, the company purchases a piece of art from the CEO’s wife, to display in their lobby. That wouldn’t be considered compensation for his “services” as CEO.
No, the tax structure is a better option. Close the ability for them to invest their excess income in financial assets. Allow them to reduce their taxable income through deductible expenses for tangible goods and services. Crawl up their asses when they try to justify objects with intangible value like artwork, but look the other way when the purchase is of a product or service produced by workers.
I’d impose a securities tax as well: tax a percentage of all registered securities, payable in shares of the security. Transfer the shares to an IRS liquidator, who sells them off slowly over time. Limit the liquidator to a maximum of 1% of total traded volume to minimize the effect on the market price. Exempt the first $10 million held by natural persons from the tax. Suddenly, nobody wants to hold more than $10 million in shares.