McCain Would Regulate CEO Pay
June 10th, 2008
While economic conservatives would find much in John McCain’s current message calling for lowering corporate taxes they may be surprised to find out he would also regulate CEO pay. In prepared remarks reported on by McCain is to say:
“Americans are right to be offended when the extravagant salaries and severance deals of CEOs … bear no relation to the success of the company or the wishes of shareholders,”
“If I am elected president, I intend to see that wrongdoing of this kind is called to account by federal prosecutors. And under my reforms, all aspects of a CEO’s pay, including any severance arrangements, must be approved by shareholders,”
My take? McCain is making an interesting pitch that reaches out to economic conservatives on taxes and reforming the tax code while also reaching out to middle Americans who are increasingly incensed by corruption in business and Washington. It is an interesting appeal that will either end up pleasing many or offending all.
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