February 28, 2017
The U.S. Securities and Exchange Commission has long delayed the Dodd-Frank law’s requirement that public companies disclose the ratio of their CEO’s pay to the pay of their median worker. It would be outrageous to further delay or reverse progress on that rule now.
Americans need and deserve more information about corporate pay practices. Such data helps shareholders guard their pocketbooks against self-seeking executives and it helps us all evaluate the long-term soundness of companies. That’s because excessive compensation at the top encourages risky practices up and down the line—in addition to inhibiting teamwork and reducing employee morale and productivity.
There is simply no excuse to give big corporations a pass about being transparent about their pay practices.
When Ronald Reagan won in California he requested that all Business in California be charged 5% on earnings overseas. The big backers of Los Angeles complained and he backed off. California State road system was supposed to be updated and an east side canal for farm irrigation was also passed by Edmund G, Brown Sr., but Reagan supporters also had him discard them. The Cowboy now has a statute in California State Capital Park for his contribution to the improvement of California.
Today no top executives should make more than $1 a month due to all of their contacts are paid by their companies. They do not ,make all of the most important decisions or their companies. Their investments should be the added income they receive from their companies.