“Overpaid Executive Tax” in SF hits firms that pay CEOs 100X more than workers

Businesses can either pay tax, reduce top executive salary, or pay workers more.

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[Sajuuk]

And watch as senior managers suddenly become consultants, or the cheapest resource get outsourced.

Don't get me wrong, I completely support the intent of this, Senior salaries have got completely out of hand, but I'm also a very cynical person.

Agreed, this is going to lead to more and more low level positions being filled by contractors. I also have a problem with the idea that someone who runs a company of expensive employees should be able to earn more (tax free) than someone runs a company of working class employees.

Of course you do.

Try to replace income with productivity to get a real idea of what a proposal is about.

We are going to tax really productive people if they are more than 200 times as productive as dumb unskilled janitors. Yes, if you dare to get a PhD and work extremely hard, we will punish you because some high school dropout is getting minimum wage.

I look forward to really good green energy policy under president Harris. I do not look forward to the economic ignorance like this.

What is next California, tax Elon Musk 70% of all his stock holdings because "billionaire"? (Real proposal although I may remember the numbers wrong)

It wasn't that long ago (in many of our lifetimes) that the top tax rate (for incomes a few million) was 70%.

Sure, and if you go back further only rich people paid taxes at all. So what?

Do you really want the government in charge of all capital? This is a step in that direction. No it's not a great outcome. Vote getters do not have the same skill sets as profit getters. The Soviet Union collapsed for exactly that reason.

There is an obvious solution: simply tax and spend in moderation so your budgets are balanced and you don't have to try and squeeze blood out of rocks like this.

The USSR collapsed from a combination of ridiculous defense budgets, foreign intervention (read: wars), the extreme concentration of wealth in a practical aristocracy/oligarchy, and the extreme alienation of the average citizen. Hey...wait a minute.