If they can't live on $5million/year I haven't a lot of sympathy. Not to mention, it's not all that long ago that pro athletes didn't make millions and millions of dollars. I don't happen to be interested enough in pro sports to attend a game, but every so often I see recent information on how much tickets cost and I'm genuinely shocked. I'm astonished that anyone can afford to go to the games, but maybe my response is simply an indication of how relatively poor I really am.
And yeah, I know that even without a federal maximum people high up in the corporate hierarchy have all sorts of tricks to evade taxes, such as stock options.
Someone who understands these things better than I do can come up with a sensible solution. Maybe the cap should be $10 or $20 million, but yes, I honestly think there ought to be an upper limit to wages. Confiscating excess income and redistributing it does not seem like such a bad idea.
And I'm not advocating a tax on wealth as such. Occasionally such things have been brought up here. I am doing as well as I am, even though my income is somewhat below the national median, because most of my adult life I saved significant portions of my income, invested it, and am now finally reaping the reward. So if you save and invest, you deserve to reap the rewards. But a CEO
There ought to be a limit on what companies can pay their upper management. At least have a law that says the highest paid employees can only make some specific multiple of the lowest paid employee, and that multiple should not be thousands of times more. A couple of hundred times more at the very most. THAT would create a rising tide that would lift all boats.
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