October 13, 2013
I support Dodd-Frank rule 953(b), which strikes me as being all about the intersection of pay equity and investor value.
American workers are more productive than ever, but, year after year, studies show working Americans earning less and less, even as CEO pay balloons and corporate profits soar.
Disclosing corporate pay ratios between CEOs and average employees will finally show which corporations are driving this trend, which siphons money away from investors, and into the pockets of CEOs. In 1990, senior executive pay absorbed 5 percent of corporate profits. Today, according to Government Metrics International, it absorbs 10 percent.
Fairer pay structures mean stronger companies and a stronger economy – both of which are important to me as a consumer and as an investor.
No doubt there are a select few who benefit from the status quo of keeping the pay disparities undisclosed. Stand firm, and implement the law as written.
If I remember correctly, "Robber Baron" Andrew Carnegie recommended that the maximum ratio of executive pay to worker pay not exceed 20 to 1; a ratio of executive to worker pay of 350 to 1 is OBSCENE!!!
In addition, a two percent - or more - sales tax on EVERY transaction involving the stocks or bonds of ALL companies doing business in the United States would both increase the revenues needed to support an effective national government, it would also serve to discourage reckless speculation.
Thank you for considering my comment,
Russell B. Sperry
Ventura, CA