Due to how the Clinton admin reformed certain aspects of tax law, most C suites (CEOs, CFOs, etc) are paid a fixed salary that tapers off at 1 million. This is because Clinton 'reworked' executive compensation so that execs making more than that 1 million figure of fixed compensation prevents the corporation from being able to deduct that executive pay from the business's taxes.
However, that law ONLY applies to 'fixed pay', not to things such as incentive based pay, either short or long term. So stock options, performance bonuses and the like are completely unaffected, which obviously leads to execs getting paid '1 million' of fixed salary and then however many millions in incentive pay.
It seems obvious what it was going to cause, so much so that I have to believe it was intentional.
It's honestly fucking weird seeing them still play pretend anti-corruption like this, like the theft is so bad that this law does literally nothing except highlight its own impotence, but they're still carrying it like a totem
kinda feels like those laws about not eating ice cream on a horse outdoors on sunday or whatever the fuck, someone put it on the books way back when but it literally doesn't matter ever so it's going to be there forever despite doing nothing
Due to how the Clinton admin reformed certain aspects of tax law, most C suites (CEOs, CFOs, etc) are paid a fixed salary that tapers off at 1 million. This is because Clinton 'reworked' executive compensation so that execs making more than that 1 million figure of fixed compensation prevents the corporation from being able to deduct that executive pay from the business's taxes.
However, that law ONLY applies to 'fixed pay', not to things such as incentive based pay, either short or long term. So stock options, performance bonuses and the like are completely unaffected, which obviously leads to execs getting paid '1 million' of fixed salary and then however many millions in incentive pay.
It seems obvious what it was going to cause, so much so that I have to believe it was intentional.
It's honestly fucking weird seeing them still play pretend anti-corruption like this, like the theft is so bad that this law does literally nothing except highlight its own impotence, but they're still carrying it like a totem
kinda feels like those laws about not eating ice cream on a horse outdoors on sunday or whatever the fuck, someone put it on the books way back when but it literally doesn't matter ever so it's going to be there forever despite doing nothing