“Overpaid Executive Tax” in SF hits firms that pay CEOs 100X more than workers
1–10 of 62 posts
Re: “Overpaid Executive Tax” in SF hits firms that pay CEOs 100X more than workers
#2Glad to see this as an East Bay resident. Here's hoping it helps the already-existing trend of more tech companies moving across the bay ;-) Or, maybe the San Francisco companies will just fire their low-paid workers or shift them to being employed by a subsidiary to avoid this tax.
It's funny how San Francisco often seems to be both the home of the US tech industry, and the home of opposition to the US tech industry.
Re: “Overpaid Executive Tax” in SF hits firms that pay CEOs 100X more than workers
#3Its sad that people don't understand economics. Microsoft CEO Satya Nadella for example has created tremendous value for Microsoft over the last 6 years and deserves every penny he is paid.
Whereas on the other end its kinda a no-brainer that the McDonalds CEO is paid significantly more than the average fry cook... like come-on. Again a reason I am never going back. This city is a piece of shit. Good luck with the exodus.
Re: “Overpaid Executive Tax” in SF hits firms that pay CEOs 100X more than workers
#4I’m confused. What’s to stop these orgs from shuttling all their lower paid employees into a distinct staffing solutions LLC and just use them to “hire” staff for a parent company comprised of executives?
Other fields do this regularly - hospitals often organize their physicians into a distinct staffing org, for instance. It’s entirely legal. So is this anything other than a feel good law that will push some minor corporate restructuring?
Re: “Overpaid Executive Tax” in SF hits firms that pay CEOs 100X more than workers
#5This is going to have unintended consequences. Chances are it brings in a trickle of revenue and triggers silly behaviour rather than making anyone better off.
Re: “Overpaid Executive Tax” in SF hits firms that pay CEOs 100X more than workers
#6Its sad that people don't understand economics. Microsoft CEO Satya Nadella for example has created tremendous value for Microsoft over the last 6 years and deserves every penny he is paid. Whereas on the other end its kinda a no-brainer that the McDonalds CEO is paid significantly more than the average fry cook... like come-on. Again a reason I am never going back. This city is a piece of shit. Good luck with the ex…
You're not wrong. But neither of those examples justify less than 3% compared to the lowest workers (assuming lowest = $30,000, and highest = $1,000,000). In reality the highest paid executives earn waay more then 1 million. This isn't okay.
Re: “Overpaid Executive Tax” in SF hits firms that pay CEOs 100X more than workers
#7I’m confused. What’s to stop these orgs from shuttling all their lower paid employees into a distinct staffing solutions LLC and just use them to “hire” staff for a parent company comprised of executives? Other fields do this regularly - hospitals often organize their physicians into a distinct staffing org, for instance. It’s entirely legal. So is this anything other than a feel good law that will push some minor co…
Big bank I used to work for did exactly this.
Re: “Overpaid Executive Tax” in SF hits firms that pay CEOs 100X more than workers
#8Its sad that people don't understand economics. Microsoft CEO Satya Nadella for example has created tremendous value for Microsoft over the last 6 years and deserves every penny he is paid. Whereas on the other end its kinda a no-brainer that the McDonalds CEO is paid significantly more than the average fry cook... like come-on. Again a reason I am never going back. This city is a piece of shit. Good luck with the ex…
You're not wrong. But neither of those examples justify less than 3% compared to the lowest workers (assuming lowest = $30,000, and highest = $1,000,000). In reality the highest paid executives earn waay more then 1 million. This isn't okay.
> This isn't okay.
If he produces more than 100x the value that others produce, it's perfectly ok.
Nadella and Steve Jobs are obvious examples of the tremendous value a CEO can bring.
Re: “Overpaid Executive Tax” in SF hits firms that pay CEOs 100X more than workers
#9Its sad that people don't understand economics. Microsoft CEO Satya Nadella for example has created tremendous value for Microsoft over the last 6 years and deserves every penny he is paid. Whereas on the other end its kinda a no-brainer that the McDonalds CEO is paid significantly more than the average fry cook... like come-on. Again a reason I am never going back. This city is a piece of shit. Good luck with the ex…
You're not wrong. But neither of those examples justify less than 3% compared to the lowest workers (assuming lowest = $30,000, and highest = $1,000,000). In reality the highest paid executives earn waay more then 1 million. This isn't okay.
> This isn't okay.
Why not?
Re: “Overpaid Executive Tax” in SF hits firms that pay CEOs 100X more than workers
#10I’m confused. What’s to stop these orgs from shuttling all their lower paid employees into a distinct staffing solutions LLC and just use them to “hire” staff for a parent company comprised of executives? Other fields do this regularly - hospitals often organize their physicians into a distinct staffing org, for instance. It’s entirely legal. So is this anything other than a feel good law that will push some minor co…
They can also give those in the Llc worse benefits as it’s a separate entity.
FYI, this is already a common practice.