{"id":21970,"date":"2015-08-07T05:45:02","date_gmt":"2015-08-07T09:45:02","guid":{"rendered":"http:\/\/admin.patheos.com\/blogs\/geneveith\/?p=21970"},"modified":"2015-08-06T19:34:24","modified_gmt":"2015-08-06T23:34:24","slug":"the-government-gets-involved-in-private-sector-salaries","status":"publish","type":"post","link":"https:\/\/www.patheos.com\/blogs\/geneveith\/2015\/08\/the-government-gets-involved-in-private-sector-salaries\/","title":{"rendered":"The government gets involved in private sector salaries"},"content":{"rendered":"\n<\/head>

The government, through the Securities & Exchange Commission, has passed a regulation requiring that all publicly-trade companies have to publish the ratio between how much the chief executives get paid as compared to their average worker.\u00a0 On the other end of the pay scale, a number of Democrats are pushing for and some local governments are implementing a $15 per hour minimum wage.<\/p>\n

Do you think these policies will reduce income inequality?\u00a0 Should the government be meddling in salary decisions with no regard for how the marketplace sets wages and prices?<\/p>\n

From Drew Harwell, In win for income-gap fight, SEC approves rule comparing CEO and worker pay \u2013 The Washington Post<\/a>:<\/p>\n

The Securities and Exchange Commission on Wednesday made it official: Public companies will soon have to say exactly how their chief executives\u2019 payday compares with a typical employee\u2019s.<\/p>\n

\n

In a 3-to-2 vote, the commission backed a long-delayed rule demanding that companies publicly share their \u201cpay ratio,\u201d a potentially embarrassing corporate revealing that will highlight the country\u2019s growing workplace pay gap.<\/p>\n

Calling it \u201cone of the most controversial rules\u201d to arise out of the sweeping Dodd-Frank reform following the financial crisis, the rule\u2019s approving members, including SEC chair Mary Jo White, called it a thoughtful and reasonable measure that would help investors and workers better understand how companies reward both sides of their workforce.<\/p>\n

But the SEC\u2019s two Republican commissioners belittled the rule as an easily misconstrued burden built to embarrass big businesses. Commissioner Michael Piwowar called it \u201ca page out of the playbook of Big Labor.\u201d<\/p>\n

Commissioner Dan Gallagher decried it as a \u201clow-quality\u201d number that was \u201clikely to be useless for anything but naming and shaming\u201d well-paid corporate execs, and desired largely by \u201cideologues, special-interest groups \u2026 and idiosyncratic investors.\u201d He added, \u201cAddressing income inequality is not the province of the SEC.\u201d<\/p>\n

Companies will have to share how the chief executive\u2019s pay compares to the median pay of workers\u2014the middle line in which half of all employees make more and half make less. At America\u2019s biggest companies, the top boss makes more than $300 for every $1 its typical worker earns, up from a $20-to-$1 split in 1965, Economic Policy Institute data show.<\/p>\n

The new measure will cover all of a company\u2019s full-time, part-time and temporary employees, though the business can use statistical sampling and reasonable estimates, without needing to compile their workforce\u2019s entire payroll. . . .<\/p>\n

Companies will have to share\u00a0the ratio starting\u00a0in 2017, seven years after Congress first mandated the rule go into effect. Supporters of the rule \u2014 including\u00a0Congressional Democrats, workers\u2019 unions, good-governance advocates and some institutional investors \u2014 have\u00a0questioned what took so long for the simple ratio to become law,\u00a0with Democratic presidential candidate Hillary Rodham Clinton saying\u00a0last month, \u201cThere is no excuse for taking five years to get this done.\u201d<\/span><\/p>\n<\/div>\n<\/blockquote><\/body><\/html>\n","protected":false},"excerpt":{"rendered":"

The government, through the Securities & Exchange Commission, has passed a regulation requiring that all publicly-trade companies have to publish the ratio between how much the chief executives get paid as compared to their average worker.\u00a0 On the other end of the pay scale, a number of Democrats are pushing for and some local governments […]<\/p>\n","protected":false},"author":1281,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,19],"tags":[2963,3936,1949],"class_list":["post-21970","post","type-post","status-publish","format-standard","hentry","category-economics","category-government","tag-income-inequality","tag-minimum-wage","tag-salaries"],"yoast_head":"\nThe government gets involved in private sector salaries<\/title>\n<meta name=\"description\" content=\"The government, through the Securities & Exchange Commission, has passed a regulation requiring that all 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