Poison Pills

Why are corporate execs paid so much more compared to “joe six packs” than they were a couple decades ago? This writer suggests it is a reaction to deregulation and an effort by corporate managers to make it difficult to be replaced in a takeover bid.

This was sent to me by Vic who regular readers will recognize as my long time email sparring partner. Its of interest to me because my wife is a corporate exec and because I’m a great believer in the progressive income tax.

I don’t know why the salaries have risen as they have but I believe that people who have benefited most from our nation’s bounty have a greater obligation to support the system that made their success possible. This explains my support for the progressive income tax vs. the Republican’s dearly beloved flat tax (which also apparently came down from Mt. Sinai).

Just where the top tax percentage should fall is always open for negotiation. In the FDR years they approached 90 percent and helped pave the way for the booming market in legalized tax dodges and loopholes. Today its closer to 30  percent and the system is still bedeviled with dodges and loopholes. Now the Republicans are poised to eliminate most of the Estate taxes for the very rich if the Democrats push for an increase in the minimum wage.

Don’t do it Dems. The poor already know you want to do it. Wait to see if you can get control of the House and if you do then revive the Estate tax and the raise the minimum wage!

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