We need to do this

[kelroy55]

Swiss voters are going to the polls to decide on strict new laws to limit executive pay to no more than 12 times the wage of the lowest-paid worker in the same company.

The 1:12 initiative is backed by Switzerland Young Socialists, who gathered the necessary 100,000 signatures to call a referendum.

It is the second time this year the Swiss have voted on top salaries; in March they voted overwhelmingly to curb big bonuses, and to ban golden handshakes and goodbyes.

BBC News - Swiss bosses on vote to decide executive pay limit

[BoulderSooner]

No we don't. Horrible idea.

[kevinpate]

So the contribution of a CEO has no more value than 12X the value of the contribution of the chap who mops the floor? Interesting take on things.

[Of Sound Mind]

It's really no surprise on who's backing this proposal... that says everything... should this pass, it will ultimately hurt Swiss companies...

[HangryHippo]

So the contribution of a CEO has no more value than 12X the value of the contribution of the chap who mops the floor? Interesting take on things.

It really is. Of course, there are some CEOs that probably far surpass that value, and well, others that don't come close.

[mugofbeer]

So, you're in favor of totally throwing capitalism and free enterprise aside? You think the execs of virtually every company in the country should be limited to $300, 000 per year? You really need a good dose of reality or, perhaps, go live in Venezuela for a while and see what this sort of control is doing to their economy.

[mugofbeer]

It really is. Of course, there are some CEOs that probably far surpass that value, and well, others that don't come close.

Probably????? 25, 000 (, consider mailroom and entry level pay) x12 =$300, 000

[Bunty]

Don't restrict pay of anyone. Just tax high earners a little more. Why restrict pay and miss out on tax revenue?

[BoulderSooner]

Don't restrict pay of anyone. Just tax high earners a little more. Why restrict pay and miss out on tax revenue?

High earners already pay almost all the taxes.

[mugofbeer]

Depending on your definition of high-earners. One persons high-earners are anothers middle-class

[tomokc]

Some CEOs don't receive a salary - their compensation is in the form of performance bonuses, stock options and - when the time comes - incredible severance packages. Don't forget Aubrey's ability to participate in wells. What about access to the corporate aviation fleet? Corporate-paid security personnel and equipment at home. They're trying to make things simple, but the real world isn't as simple as they'd like.

[HangryHippo]

They're supposed to but they do not.