Karl ,et al are getting a big ol chub.
Exactly where does the Fed Gov’t get the authority to limit pay to CEOs of privately owned businesses?
whether one likes - or not - what ceo’s, sports stars, entertainers are paid, the market sets the value, not the government.
Correction: There's a total lack of trust on Main Street for Pennsylvania Avenue.
Doesn’t matter one bit. Years ago, people like corporate executives and Mafiosa figured out that just because you don’t own something, doesn’t mean you can’t enjoy it.
Many people who would typically be very wealthy would have just “beer money” take home pay, but live in luxurious estates that they didn’t own, fly in private jets they didn’t own, be driven by chauffeurs they didn’t pay in luxury automobiles they didn’t own. On holiday, they would go out on luxurious yachts to expensive retreats, all paid for by someone else.
Everyone knew that they were in charge, however.
Eventually the IRS wised up to what was going on, and clamped down on such perquisites. However, at about the same time, taxes were reduced to more reasonable levels as well. So it was back to doing things the old way.
But if Washington wants to be greedy, then endless creativity will go into protecting assets from them. Love will find a way.
Why not.
If in any way the company or executives have benefitted from government actions, waivers of immigration limits, loans, bailouts, etc., etc., that are not readily available to every other business, then the company has opened itself up to greater government regulation and control.
With good reason, can anyone name all of the wall street scams of the past fifty years and the people involved.
Easy to work around, CEO becomes a consultant like “Little Tommy” for $83,000 a month.
That’s it. I QUIT!!! LOL.
What will they have then?