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View Diary: Taxing The Rich The Only Solution To Our Systemic Inequality (44 comments)

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  •  dfarrah - well current US law (2+ / 0-)
    Recommended by:
    johnny wurster, Sparhawk

    The notion that any government could dictate to the owners of a private enterprise what the maximum amount they could pay is preposterous and not possible under current law. There is no country in the world where the residents have economic freedoms and a government imposes such a restriction. It would not be in the interest of the federal government to propose such a restriction because executive compensation is always taxed at the highest marginal income tax rate. It's much easier, and more straight forward, to just raise marginal rates and increase tax revenues. Reducing executive compensation would just lower the total taxes paid.

    "let's talk about that"

    by VClib on Sat Feb 23, 2013 at 01:37:28 PM PST

    [ Parent ]

    •  Plus, how in the world could it (3+ / 0-)
      Recommended by:
      Utahrd, VClib, Sparhawk

      actually be accomplished? Companies already pay their execs more in options and bonuses than they do in salary. So would we have laws that say that certain employees could not receive bonuses, and that no matter how much the Board thinks they are worth, that they may not receive very many stock incentives? The whole thing is ludicrous, would not generate any additional tax revenues as you point out, and to me seems to be more rooted in jealousy and envy than in any rational policy theme. Boo.

      •  And how many companies aren't multinational? (0+ / 0-)

        Here's what would happen:

         - Executive salary from Megacorp USA = $100,000

         - Executive salary from Megacorp Cayman Islands = $10,000,0000

        •  Some people seem to not be aware (1+ / 0-)
          Recommended by:
          cynndara

          of all of the global changes over the past 40 years. These ideas are very 1917.

          •  So is the idea (1+ / 0-)
            Recommended by:
            NoMoreLies

            that a government CANNOT control its citizens or residents.  There's such a thing as "freezing assets", and we do it for entire nations.  It's a piece of cake to do it for individuals.

            Good god, our President has asserted the god-given right to kill anyone in the world, anywhere in the world, by remote control without oversight of judge or jury.  We can certainly tax a few overpaid con artists if we so choose.

          •  Well, it's nice that (0+ / 0-)

            you think serfdom is acceptable for us.

            The banks have a stranglehold on the political process. Mike Whitney

            by dfarrah on Sat Feb 23, 2013 at 05:00:00 PM PST

            [ Parent ]

        •  What if the US (1+ / 0-)
          Recommended by:
          NoMoreLies

          simply pulled the company charter-or whatever it is that allows the company to operate in the US?

          Let's speculate on what could happen.  Some other company might step in to fill the void and start producing whatever it was that your Cayman Megacorp was producing.  The US has had companies that operate that act in a responsible manner; these companies have existed in the past and do exist even now.  

          Further, in the past, workers shared in the productivity increases.  Are you aware of that fact?  That once upon a time, labor managed to keep improving its lot and executives did not steal all of labor's productivity.  Why do you think it is so impossible now for labor to share in the fruits of its efforts?

          That's the problem with people like you, VClib and doc2-you simply refuse to see other possibilities.

          The banks have a stranglehold on the political process. Mike Whitney

          by dfarrah on Sat Feb 23, 2013 at 04:48:12 PM PST

          [ Parent ]

      •  Oh how, oh how (1+ / 0-)
        Recommended by:
        NoMoreLies

        could anything be any different than it is right this very minute?  

        I'm glad you weren't around discouraging invention and creativity when Edison invented the light bulb, the Wrights worked on flying machines, and Turing worked on computers.  

        You post as if the corporate form is the only business operating form that can exist, and we're just stuck with them.  

        Well, we aren't stuck with them.  The corporate form has turned into a dysfunctional creature where top management acts only to further top managment's personal interests inside of a company that it operates until it can suck out every last dollar and leave a shell behind.  These companies cause and create many dysfunctions within the economic system while they are answerable to no one for the problems they cause. They need to be broken up.

        And please quit with the 'envy' stuff.  Top executives and shareholders have been stealing the value of the laborers since the '70's.  Workers have every right to be angry over not sharing in the very wealth they have created.  

        The banks have a stranglehold on the political process. Mike Whitney

        by dfarrah on Sat Feb 23, 2013 at 04:58:44 PM PST

        [ Parent ]

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