“The typical CEO of America’s largest companies and banks is now earning more than 475 times what America’s average worker is paid. Fifty years ago, it was 40 times. This meteoric rise isn’t because CEO’s are “worth” it but because their boards want to give them more than the CEOs they compete with, giving the firm bragging rights on the Street and ensuring that the CEO will stay put. But this has resulting in an escalating arm’s race. And because CEO pay is fully deductible from corporate taxes, taxpayers are subsidizing this arm’s race — even as median household income drops.”
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Robert Reich (via azspot)
CEO pay is fully deductible from corporate taxes
CEO pay is fully deductible from corporate taxes
CEO pay is fully deductible from corporate taxes
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