Apple Exec bonuses
Out of context: Reply #40
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- boobs0
In a publicly traded company, how are you going to stop these guys from raiding the till, providing it's all legal? This is something the executive class learned years ago.
In the 1970s, the very top CEOs, of Ford and GM, earned just under a million per year. They were the highest paid executives in the world at that time.
Somewhere along the way, these guys learned they could pay themselves a fuck of a lot more, and get away with it. And now they do.
There's really only one way to stop them, and that's to tax the living shit out of incomes/capital gains/compensation, etc., above a certain level.
That was actually the strategy of the very high tax rates of the 1940s, 1950s, and 1960s: that gives an incentive to re-invest in the company, instead of taking more and more compensation. CEOs lived in big houses and had nice cars. But they didn't live in Versailles.
The chart up there that shows the average salary being nearly level for the last 40 years ought to tell you who's winning the class warfare. Average guy is getting buried!
Just think how much lower your health insurance premiums and co-pays would be if the people at the top weren't raking off so much for themselves.