Forum Post: 40X rule
Posted 13 years ago on Oct. 7, 2011, 7:19 p.m. EST by murraydigsit
(4)
from Annapolis, MD
This content is user submitted and not an official statement
The 40X rule.
Hurray for the brave women and men who are taking a stand against the outrageous corporate greed that is destroying our country.
Here is a modest proposal for a simple law that will provide a dramatic step towards the goal of achieving greater economic equity in our land. Rather than simply tax the wealthy, we should require that companies distribute more equitably the profits that they make. The chief executive officer of the Federal government—the President—does not earn more than 40 times what the lowest paid, Grade 1 step 1, government worker makes.
Let’s take that pay scale as a model for corporations and require that no company pay its top earners more than 40 times what the lowest wage earner makes. If the CEO of GreedCo wants to make $10 million a year, then the lowest paid worker at GreedCo must be paid at least $250,000.
The 40X rule, of course, does not obviate the need to tax the unproductive scions of inherited wealth.
that 25 cent gum is now raised to $25.00 sounds good to me :D
Paying a lowly worker that much will no doubt increase product costs. It would be the downfall of the economy.
Obviously. The point is, if a private company has a finite amount of profit, why do we as a society sanction the top wage earners making 400 to 1000 times what the lowest paid worker makes when we do not sanction that in our public sector.
Let the CEO make $1,000,000 and pay the lowly worker something above starvation minimum wage.
Obamas' 2012 Finance Director is the son of BANK OF AMERICAS former CEO.... the guy who got us in this mess!!! Keeping it all in the Family
Seems fair.