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  1. #1
    Atomic Punk
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    Default California Sets Maximum Salary Limits (Fair Maximum Salary Act of 2014)



    California Sets Maximum CEO Salary at $10 Million per Year…

    Stepping Ahead of Congress, California Leads Growing Number of States to Set a Maximum Salary to $10 Million Per Year

    Nancy Pelosi and George Miller Call on Congress to Follow California’s Lead By Passing the Fair Maximum Salary Act of 2014


    Washington, DC – With California poised to set its maximum CEO salary to $10 million per year in two steps by 2016, and other states preparing similar moves, national elected leaders called on Congress to follow California’s lead and pass the Fair Maximum Salary Act of 2014.

    In praising California’s leadership, U.S. House Democratic Leader Nancy Pelosi (D-CA) and Rep. George Miller (D-CA) called on Congress to set a federal maximum salary to $10.1 million per year for CEOs and index it to lower each year in relation to the economy, as proposed in the Fair Maximum Salary Act of 2014 – a bill introduced by Rep. Miller and U.S. Senator Tom Harkin (D-IA) in January of this year, which has yet to receive a vote…

    “When California leads, America takes notice,” said House Democratic Leader Nancy Pelosi. “Governor Jerry Brown, Senate President Pro Tem Darrell Steinberg, and Speaker John Perez called for a maximum salary for CEOs, in the interest of fairness and to put California’s workers ahead of the curve once more – and now it’s time for Congress to heed the call to act in the interest of fairness. We must pass the Fair Maximum Salary Act to follow California’s lead to ensure that all American workers know that we care about their dignity and to lead the world in bringing equality to the people.”

    “Economists agree that CEO golden parachutes are hurting our economy and holding back the recovery’s full potential,” said Rep. George Miller. “That’s why setting California’s maximum salary cap is so important. When equality enters the workplace, it’s a win-win for families and our economy. Now, Congress should follow California’s lead and set the maximum salary for fat cat executives who prey on hardworking Americans.”

    Drawing on the widespread popularity of the issue, Congressional Democrats have signaled plans to make setting the federal maximum salary a high-profile issue ahead of the 2014 mid-term elections. In July 2013, a national poll conducted by Holt Research Associates found that 80 percent of Americans, including 62 percent of Republican voters, support setting the federal maximum salary to $10.1 million per year. The poll also found that 74 percent of Americans consider setting the maximum salary to be an important legislative priority for Congress to address over the next year.

    But with partisan gridlock slowing Congressional action on setting the federal executive salary cap, California has now become the first of a growing number of states poised to pass maximum salary caps to at least under $10 million per year over the next year. Last week, Maryland Governor Martin O’Malley announced his support for efforts to set the state’s maximum salary cap for executives to $10.1 million per year and index it to lower each year in relation to the economy, and he called on the state legislature to make passage of this salary cap a top priority when it reconvenes in July. Earlier this month, Illinois Governor Pat Quinn also renewed his call for setting the state’s maximum salary for CEOs to $10 million per year, citing fairness as a priority for boosting the state’s economy.

    And last month, a coalition of community, faith, and labor advocates in Massachusetts launched a campaign – with the support of U.S. Senators Elizabeth Warren and Ed Markey – to place a measure on the November 2014 ballot that would set the state’s maximum salary for CEOs to $10.5 million per year and index it to lower in relation to the economy. Similar ballot initiatives to set state maximum salaries for CEOs and adjust them based on the cost of labor are underway in Alaska, South Dakota and Idaho for 2015, and such a measure will go before New Jersey voters this coming November.

    “With Congress continuing to drag its feet on a long-overdue federal maximum salary for CEOs, it’s not surprising to see this groundswell of action on the state level to limit executive salaries, who clearly are not hurting,” said Christine L. Owens, executive director of the National Employment Law Project. “But fairness and equality in the workplace shouldn’t depend on what state you live in – it’s time for Congress to follow the lead of states like California and limit golden parachutes for all fat cat CEOs in the county by passing the Fair Maximum Salary Act of 2014.”

    Setting a federal maximum salary to $10.1 million per year would free up billions in pay for more than 30 million low-wage workers. According to an analysis by the nonpartisan Economic Policy Institute, 88 percent of these workers are adults over the age of 20; 85 percent work more than 20 hours per week; and 43 percent have at least some college education. A maximum salary cap for CEOs would also be a direct benefit for many lower income families: more than 15 million children in the U.S. have a parent who would benefit from setting a maximum salary for executives to $10.1 million per year.

    The most rigorous economic research over the past 20 years shows that setting a maximum salary cap for executives would directly boost worker pay without causing job losses – even in regions where the economy is weak or unemployment is high. A recent study by the Center for Economic Policy Research reviews the past two decades of research on the impact of unlimited salaries for CEOs on low wage workers and concludes that “the weight of the evidence points out that maximum salary caps increase job growth.” In February, leading mainstream economists polled by the University of Chicago’s Booth School of Business backed setting and indexing the maximum salary by a more than 3 to 1 margin, saying that the benefits outweigh any costs. Similarly, 67% of small business owners support setting and indexing a maximum salary as shown in an April poll, which indicated that the majority believe it will help the economy.

    The National Workers Law Project is a non-partisan, not-for-profit organization that conducts research and advocates on issues affecting low-wage and unemployed workers. For more about NWLP, visit www.CapTheCEOs.org.
    "Watch what people are cynical about, and one can often discover what they lack.” -- Gen. George S. Patton

  2. #2
    Forum Frontman It's Mike's Avatar
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    i wish them luck but this isn't going to work.

  3. #3
    Atomic Punk lovemachine97(Version 2)'s Avatar
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    12.09.17 @ 11:21 PM
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    Default California Sets Maximum Salary Limits (Fair Maximum Salary Act of 2014)

    I'm guessing that if a company could hire a CEO for $300k and get the same work out of them as they would hiring someone else for $11M, they would.

    California hasn't learned that making it more expensive for the film industry to exist has caused it to not just move out of Hollywood, but move out of state. Most recently, NBC got a tax exemption in New York that only applies a) a show that had previously filmed for at least 5 years in another state, b) films in front of at least 200 people, and c) has production costs of at least $30 million.

    In other words, only The Tonight Show qualified, and keeping it in NY saves NBC $20 million in taxes.

    Making it less profitable for people to run a business here will do the same thing.

    *Edit--I'm trying to find this elsewhere and cannot.


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    Last edited by lovemachine97(Version 2); 02.25.14 at 10:40 AM.

  4. #4
    Atomic Punk bsbll4's Avatar
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    12.08.17 @ 02:16 PM
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    What about all the liberal movie stars that make more than that per film?

    Oh.

    I guess they forgot about them.
    CNN may think my opinion matters, but you shouldn't.

  5. #5
    Atomic Punk Dave's Dreidel's Avatar
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    12.10.17 @ 08:27 PM
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    They are operating under a false assumption.

    They are assuming that they are smarter than multi-national corporate CEO's, and that they have more lawyers and deeper pockets.

    They don't. There will be ten point one millions ways to get around it by the time it gets passed.

    Would guarantee that it ends up being nothing more than showroom legislation. Sounds great for a sound bite and a photo op, but it will have almost zero impact, except for extra fees for attorneys and CPA's.

    Well, after typing that out, I like it!!!!!!
    Taylor Swift is nice to look at. Adele can sing.

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  6. #6
    Atomic Punk Dave's Dreidel's Avatar
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    12.10.17 @ 08:27 PM
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    Quote Originally Posted by bsbll4 View Post
    What about all the liberal movie stars that make more than that per film?

    Oh.

    I guess they forgot about them.
    There will be so many ways around this, I am sure Brad Pitt and others are losing about 0.0% sleep over it.
    Taylor Swift is nice to look at. Adele can sing.

    Emperor Brett - "I can't believe you guys are analyzing song-by-song Van Halen III? What next, analyzing the script of Stroker Ace looking for some shred of Citizen Kane?"

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  7. #7
    Atomic Punk edwardv's Avatar
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    12.10.17 @ 04:53 PM
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    Paging Dick Punch in 1 2 3 4.......
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  8. #8
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    John H. Hammergren
    McKesson
    Pharmaceuticals
    Compensation: $131.2 million
    Net income (TTM): $1.2 billion
    1-year shareholder return: 20%

    Oh yeah I can see our CEO taking it down to $10 million. Absolutely
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  9. #9
    Baluchitherium
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    Sonsa bitches! When I get up to CEO level, I am going to write a sharply worded e-mail to someone, somewhere.
    "Alcoholism, is like, the only disease you can get yelled at for having" - Mitch
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  10. #10
    Atomic Punk Dave's Dreidel's Avatar
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    If they were to adopt this on the federal level, I am sure Barack Obama would limit his speaking fees to $10 million a year once he is out of office, correct?
    Taylor Swift is nice to look at. Adele can sing.

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  11. #11
    Atomic Punk Dave's Dreidel's Avatar
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    GE, headquartered in Hong Kong and Jeff Immelt renouncing his US citizenship, that is what legislation like this accomplishes.
    Taylor Swift is nice to look at. Adele can sing.

    Emperor Brett - "I can't believe you guys are analyzing song-by-song Van Halen III? What next, analyzing the script of Stroker Ace looking for some shred of Citizen Kane?"

    David Lee Roth did the impossible. He made Van Halen better. Deal with it!

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  12. #12
    Atomic Punk lovemachine97(Version 2)'s Avatar
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    Again, can anyone tell me where this is actually being reported?

    When I google "California Fair Maximum Salary Act 2014," the top search result is this thread.

  13. #13
    Atomic Punk Dave's Dreidel's Avatar
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    Well, we might have been trolled! Now that would be funny.

    Edit: the link doesn't work, and if your Google National Workers Law Project, zippy shows up.

    Methinks we have been had!!
    Last edited by Dave's Dreidel; 02.25.14 at 01:57 PM.
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    Preferred pronouns: he/him/his

    Hurricane Halen - Let's all gingery touch our sword tips!!!

    DONATE TO THE LINKS YA CHEAP BASTARDS!!!!

  14. #14
    Atomic Punk bsbll4's Avatar
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    Quote Originally Posted by lovemachine97(Version 2) View Post
    Again, can anyone tell me where this is actually being reported?

    When I google "California Fair Maximum Salary Act 2014," the top search result is this thread.
    Hahaha...this is like VH rumors all over again. Someone posts a rumor on here, a radio DJ reads it and mentions that he's "hearing a rumor," it gets posted here that a DJ heard the rumor too, and on and on it goes.
    CNN may think my opinion matters, but you shouldn't.

  15. #15
    Atomic Punk
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    It's a sad day at VHLinks, as we mourn the loss of Voivod's reputation as unimpeachable resident reporter...
    I'm FEMALE...Deal with it!

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