From: Dave Van Curen
SEC Chairman Christopher Cox
Dear [ SEC Commissioners ],
The following is what I really think! I think the tax rates of corporations should be tied to the ratio of benefits of the lowest paid corporate worker to the highest.
The higher the ratio the higher the tax rate
No exemptions for corporations adopting off shore headquarters.
All compensation should be in US dollars by the year, eliminating stock options golden parachutes.
Tax rates on unearned income (dividends, capital gains, should be taxed at the same rates and combined with earned income so that total income is taxed on the progressive tax tables.
Tax cuts for the super-rich should be restored
I am writing to urge the Securities and Exchange Commission to act on its proposed rule making on executive compensation disclosure. Too often executives are richly rewarded even when their companies' performance is below par. Without better disclosure, shareholders, employees and the general public cannot evaluate whether executive pay packages are unjustly enriching executives at shareholder cost or providing fair compensation.
The newly proposed rules will make this crucial information more accessible to shareholders and the public. The new requirements to disclose total compensation figures, pensions and detailed compensation breakdowns will make it clear exactly how much top executives are earning and why.
I believe that CEO pay should be set by independent directors.
I also urge the SEC to require that companies disclose pay-for-performance data. In order for investors to understand how pay and performance match up, companies need to explain more clearly what level of performance is necessary for a particular level of pay. I urge the SEC to require companies to disclose both the performance criteria and the performance targets they use when setting executive pay.