Republicans call it class warfare, Liberals call it fairness.

[ItNerd4life]

How do we combat greed from executives?
I think there are 2 things we could do that might make things more fair:

1) I like the idea of executive pay caps where the executive pay is tied to the average salary of people
who work within the company or any of it's child companies (maybe foreign companies as well?). However, there would have to be some type
of exemption or separate rule for small business owners who actually own the business.

2) I like the idea of a living wage, but don't see how it could be implemented or what the rules would be.
Also, would a living wage negate the need for unions?

Would love to hear what other people think on these subjects.

[zbdent]

1. and billionaires whine about paying a dime more in taxes than

mere millionaires ...

[hamsterjill]

2. I like your #1

Are you thinking something along the lines of where the exec's pay couldn't be more than "x"% of the lowest paid company employee?

So if a CEO wanted to give himself a 10% raise, he'd basically have to give everyone a 10% raise? Hmmm...interesting thinking.

Of course I see pros and cons, but I like the basic concept. The devil would be in the details, of course, like the definition of "employee" versus temporary workers, etc., and the use of any merit type pay for those who perform above and beyond the expectations. Surely there would be abuses, but I'm interested in what others might think about this concept.

[ItNerd4life]

3. Yes, that is what I'm thinking.

I like the idea that an executive also has to think about the good of the employees,
they can't just think of padding their own pockets.

[Nick at Noon]

4. I agree with the idea, also.

exec's pay couldn't be more than "x"% of the lowest paid company employee?

But what would be a fair multiplier ? I'd suggest more than 10, but less than 30.

If the lowest wage paid is $20,000 a year -- the top exec should make between $200,000 and $600,000. No stock options. Because they are a fraud -- and a way of letting the little suckers who put their money in the stock market pay his salary.

[Spike89]

5. Not a bad start

Don't worry about privately-owned businesses, simply set these rules as part of the incorporation terms for corporate officers. I would also add that bonuses and dividends also be tied to the entire workforce, i.e., if the CEO gets a bonus equal to half his/her salary, then everyone in the company gets 1/2 their salary as a bonus. In addition to some steep tax penalties for off-shore hiring/manufacturing, I'd also love to see a provision mandating a) matching layoffs, i.e., if 20% of labor is downsized, management takes a 20% hit and executive management also takes a 20% hit in pay.

Living wage laws certainly would not negate the need for unions, any more than minimum wage laws do now. Labor issues are much more complex than simple salary. Discrimination, working conditions, standards, and benefits are some of the things unions battle management on. Without unions, even with a living wage law, we'd have trouble holding onto the 40 hour week, anti-discrimination clauses, safety and child exploitation regulations.

[ItNerd4life]

6. Thank you. I see your point about the unions

and what else they provide. All great points.

[DCKit]

7. 1) Stockholders don't set the pay and bonuses - the boards do.

Stockholders don't have the power they should to reign in the corporate excesses. Board members, on the other hand, are a professional, finite group, serving on multiple boards and are well compensated for their collusion.

Just sayin', not looking for a fight.