May 20, 2017
U.S. Securities and Exchange Commission,
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.
It is possible for companies to pay employees fairly while executives still earn well--for example, Ben & Jerry (of ice cream fame) paid ALL employees living wages, and never paid themselves more than 10X what they paid their lowest-paid employee. There is enough for everyone to be secure.