On the campaign trail, Donald Trump once described our country’s stratospheric CEO pay as “a total and complete joke.” He was right about that. The idea that the guys in the corner office are worth hundreds of times more than their employees does not pass the laugh test.
He was also right when he pointed his finger at cronies on corporate boards as a big part of the problem. “The CEO puts in all his friends,” Trump said. “And they get whatever they want you know because their friends love sitting on the board. That’s the system that we have and it’s a shame and it’s disgraceful.”
But where the president-elect is off base is in his suggestion that we can’t do anything about this disgrace. In reality, there are many ways policymakers could take responsible action to rein in executive excess. And huge numbers of Trump’s own voters want them to do so.
Shortly before the election, Lake Research Partners surveyed likely voters in four states that all wound up in Trump’s column (Florida, Pennsylvania, Missouri and Ohio) and found strong support for specific policy reforms aimed at cracking down on excessive executive pay and Wall Street greed.
Read the rest at U.S. News and World Report.