November 29, 2013
I strongly support Dodd-Frank rule 953(b),which will force disclosure of the ratio of the pay of corporate executives to average workers. Every American--investor, consumer, citizen--ought to have this knowledge, which will help to guide investment and consumption decisions.
Like many Americans, I am sick to death of hearing that the US economy is "recovering" while I know that millions of workers are struggling to pay rent and buy food. These workers are not sharing the benefits of their increased productivity, and economic activity is much slower than it should be because these workers don't have money to spend. It seems that most of the benefits of increased productivity are going into ever-more-outrageous executive salaries.
Disclosing corporate pay ratios between CEOs and average employees will finally show which corporations are driving this trend, which siphons money away from both workers and 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 a citizen. Fat wallets for a few does NOT mean that the US as a whole is doing well: it isn't.
I urge you to stand firm and implement a strong rule that will uphold the intent of the Dodd-Frank law.
Thank you for considering my comment,
Glenn Fieldman, Ph.D.
Brisbane, CA