I didn’t read through everything but I’m surprised they didn’t mention the change in CEO pay law that was passed in 1993. The Clinton administration attempted to limit tax reductions for CEP pay to 1 million.
The law backfired and CEO pay increased much more dramatically than before the law passed. It was so filled with loopholes that companies could reduce their tax burden if they provided CEOs with stocks. For example one company went from 300K CEO pay to 7.74 million.
Merman_Pops t1_j5mii8w wrote
Reply to CEO pay has skyrocketed 1,460% since 1978: CEOs were paid 399 times as much as a typical worker in 2021 by sillychillly
I didn’t read through everything but I’m surprised they didn’t mention the change in CEO pay law that was passed in 1993. The Clinton administration attempted to limit tax reductions for CEP pay to 1 million.
The law backfired and CEO pay increased much more dramatically than before the law passed. It was so filled with loopholes that companies could reduce their tax burden if they provided CEOs with stocks. For example one company went from 300K CEO pay to 7.74 million.
Here’s a good summary link