So What Happened to That Talk About Reining in CEO Pay?

We need to end, and soon, this endless escalation of what our power suits get to stuff in their pockets. We simply can’t afford to continue down the economic road we’ve been traveling.
Outrageously huge rewards, the economic meltdown of the past year has made perfectly plain, have no redeeming social value. They serve only to create incentives for outrageous behavior. We need to start discouraging that behavior – and we can. The best place to start: the federal tax code.
Right now, our tax code actually encourages excessive executive pay. The more companies shell out in executive bonuses and stock awards, for instance, the more they can deduct off their taxes.
We need to end, and soon, this endless escalation of what our power suits get to stuff in their pockets. We simply can’t afford to continue down the economic road we’ve been traveling.
Outrageously huge rewards, the economic meltdown of the past year has made perfectly plain, have no redeeming social value. They serve only to create incentives for outrageous behavior. We need to start discouraging that behavior – and we can. The best place to start: the federal tax code.
Right now, our tax code actually encourages excessive executive pay. The more companies shell out in executive bonuses and stock awards, for instance, the more they can deduct off their taxes.
Chuck Collins | Alternet