March 27, 2017
I am writing as a citizen and as a shareholder in the American economy to urge you to preserve Section 943b of the Dodd Frank Act - requiring corporations to disclose the ratio of CEO pay to the pay of their average workers.
The disclosure of the CEO and Executive Pay to the pay of the average worker is an important indicator of not just the quality of governance of a corporation, but is also an indicator of our dedication to growing our country for everyone, not just for those few people at the top. Both governance and national purpose are on the line in terms of public trust. Hiding this ratio will not increase public trust.
This is not a matter of envy. The increase in the ratio of 990% over the past 40 years is much more steep than even during the period of post-war growth and prosperity. It has contributed to a hollowing out of the middle class, the erosion of our tax base, the reduction of social mobility of the American worker, the loss of consumer demand, and the opting out of corporate investment in things that would benefit not just the corporation, but the society as a whole. It is not an exaggeration, in my opinion, to say that this steep ratio is a national embarrassment.
Please don't cave in. You can be brave and stand up for what is right. Please do not promote secrecy in this matter.
I'm certain that I'm not the only person in the country who is watching you.
Thank you.Kathy Clingan