Earlier quoted context omitted.
Your theory is not based upon sound economics. If everyone was colluding in the way you describe to pay themselves more, then a situation would emerge where companies that didn't comply with this conspiracy would be significantly more profitable than those that did. Note that, although managers may wish to throw money around because it's not theirs, shareholders view every penny spent on salaries as an expense that e…
On the contrary, it's mainstream economics that a lot of internal corporate decisions are made for the welfare of employees/managers rather than shareholders.
But to claim that, there would be a vast conspiracy tobtake all of that money on a wide enough scale to make everyone in the USA overpaid is where the thing breaks down.