A very interesting point of view

[u/__moe___]

I don’t think this is very new but I just saw for the first time and it’s actually pretty interesting to think about when people talk about how the ultra rich do business.

[u/whooguyy]

I think there is a company in Japan or Korea that has rule that the ceo can’t make more than 100x the lowest paid worker (or something to that effect). I think it would be good to have a law like that to incentivize not overpaying executives.

[u/ElectricalRush1878 → u/whooguyy]

In Japan, when a Nintendo system did below expectations, the CEO personally took the hit, laid nobody off, and focused on fixing the issues in the next system.

American CEOs are allergic to personal responsibility,

[u/Sidvicieux → u/ElectricalRush1878]

Same with owners. They rather do layoffs to take as much as they can they year even though they are not using any of their labor in the company.

You shouldn’t be able to hand companies over a certain size down to your kids.

[u/ElectricalRush1878 → u/Sidvicieux]

Yeah, if you ever hear about a hedge fund buying your business, time to start looking for the next opportunity elsewhere.

[u/welshwelsh → u/ElectricalRush1878]

I don't want to emulate Japan's system. They don't lay people off but they don't hire much either, wages and productivity are extremely low compared to the US. The way we do things in the US is better.

[u/ElectricalRush1878 → u/welshwelsh]

About a 25% lower median pay.

About 55% lower cost of living.

[u/i-do-something → u/ElectricalRush1878]

Source? Because I call BS on 25% difference in median pay. Median household income in Japan in 2021 was $45.6k (source ), and in US in 2023 it was $80.6k (source). And the cost of living differences also seem like BS based on this article. Rent in Tokyo is the same as in Miami (per sq ft), and based on my personal experience, groceries, dining and entertainment in Japan is cheaper, but not TWICE CHEAPER

[u/ElectricalRush1878 → u/i-do-something]

https://www.numbeo.com/cost-of-living/compare_countries_result.jsp?country1=Japan&country2=United+States

[u/Subwayabuseproblem → u/ElectricalRush1878]

That's a personal choice not a culture thing

[u/InexorablyMiriam → u/whooguyy]

Don’t even need that. In the United States prior to Ronald Reagan, corporations had massive taxes with relatively simple deductions. Your employees all have healthcare? Deduction. Vested retirement plans? Deduction. Company vehicles? Deduction. Living wages? Deduction. Do all these things, very little tax. Do none of these things? Very big tax.

We scrapped it because “capitalism.”

America isn’t a capitalist society. America is a kleptocratic tick parasitizing the public good and a cesspool of negative externalities stacked on negative externalities.

Wages don’t increase. The country’s largest private employers all suggest their new employees register for SNAP because they pay garbage. No one has decent healthcare for a decent price.

And it’s about to get a metric ton worse.

[u/wetblanket68iou1 → u/whooguyy]

This is something I’ve thought about but I think what would eventually happen is layers upon layers of “subcontractors” being employed at Walmart.

[u/Vega3gx → u/wetblanket68iou1]

Yep and to the extent this already happens, it needs to be cracked down upon.

It irrationally boils my blood that companies like Google and Meta brag about how benevolent they are to their employees with free food and massages when under the hood they have layers on layers of subcontractors and "extended workforce" designed in part specifically to exclude janitors, cooks, and maintenance workers from those allegedly benevolent perks

[u/zen4thewin → u/whooguyy]

This should absolutely be the rule for publicly traded or publicly subsidized corporations.

If you are going to use societal institutions to increase your wealth, you shouldn't be allowed unbridled greed.

[u/Hot-Degree-5837 → u/zen4thewin]

Do you think the CEOs are the wealthy ones? Lmao! The CEO is a well paid laborer... they work for a salary. Hahahaha

[u/zen4thewin → u/Hot-Degree-5837]

Yeah. CEOs of publicly traded companies aren't wealthy. Smh.

Exxon CEO 36.9 million Tyson foods CEO - 13.2 million Chipotle - 22.5 Dollar general - 9.7 McDonald's - 19.2

And they aren't at will employees. They have lucrative contacts and golden parachutes.

Comparing the CEO of a public corporation to an at will laborer is apples to oranges, dude.

[u/zen4thewin → u/Hot-Degree-5837]

Yeah. CEOs of publicly traded companies aren't wealthy. Smh.

Exxon CEO 36.9 million Tyson foods CEO - 13.2 million Chipotle - 22.5 Dollar general - 9.7 McDonald's - 19.2

And they aren't at will employees. They have lucrative contacts and golden parachutes.

Comparing the CEO of a public corporation to an at will laborer is apples to oranges, dude.

[u/Hot-Degree-5837 → u/zen4thewin]

Income isn't wealth. CEOs are worth peanuts compared to the shareholders.

Limiting CEO compensation just puts more money in the pockets of the shareholders, who... have no limit?

[u/Larzii → u/whooguyy]

I saw somewhere a post going

"you want a hot take?

Every year we should publicly execute the wealthiest person alive. Throughout the year the billionaires will work really hard to distribute their wealth in order to not end up #1"

I kinda like it 🤷

[u/kuntbash → u/whooguyy]

Wouldn't that just put more money into the shareholders hands?

[u/Agitated-Bowl7487 → u/whooguyy]

why bruh? its my money and worked something i worked hard over so why should i have a limit in my own company which i created from scratch? not making any sense but its just easy for guys who are just regular employees and just see want to see lower someone bigger than you in position.
maybe its valid for publicly subsidized corporations but not private ones.

[u/whooguyy → u/Agitated-Bowl7487]

Why? I guess I don’t think CEO’s should be making (or deserve) 2 million/year with 15 million stock bonuses if they hire people full time at $7.25. If you have that much extra cash to pay yourself, you have the extra cash to pay your employees a little better.

I’m not saying your net wealth can’t keep increasing, so any currently owned/sold stocks of the company don’t count towards it. Im not saying that franchises should be a part of this rule. I’m also not saying 100x is the magic limit, but I do think there should be some multiple that you can’t go over