October 26, 2013
Dear Securities and Exchange Commission:
I am an investor in publicly traded companies through my retirement plan and personal savings.
I strongly support the SEC’s proposal requiring companies to disclose the CEO-to-median worker pay ratio, as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Pay ratio disclosure will help investors evaluate CEO pay levels when voting on executive compensation matters. The ratio of the CEO-to-worker pay is a valuable metric for investors, because it places CEO pay levels into a broader perspective.
For example, investors may use pay ratios as a factor when casting say-on-pay votes. Pay ratio disclosure also will help investors better understand their company’s overall compensation for all employees.
High CEO-to-worker pay ratios can have a negative impact on employee morale and productivity. Disclosure of the pay ratios will help the capital markets better allocate capital to those companies that invest in their workforces.
We need to drastically increase the top income tax rate, so that those criminal banksters who caused the economy to collapse because their bets went bad in 2007 and then blackmailed the taxpayers into bailing them out, start funding the government again. If tax rates were higher, these pigs would have less incentive to raise their pay, lower their workers', and we could turn around the increasing tendencies towards income inequality.
Sincerely,
Tim Wong
Madison, WI