Cap needed on base pay of TT CEOs

THE EDITOR: Observing the team of unionists protesting US policy towards Venezuela reminds me of the urgent need facing the capitalist world, which is to make the system fairer for all, and especially for those at the lower end of the scale.

Up until about 1970, most CEOs made a maximum of ten times the earnings of their lowest paid workers, but that gap has now steadily grown to over 50 times, and even more, in some cases.

For myself, I am proud to say that my salary is seven times of our workers and if it leaves me at the bottom of CEO earnings, then so be it.

The situation has gotten so bad in the US that the richest one per cent of citizens there own 90 per cent of the wealth, and if you think that is unfair, then consider the fact that the richest 26 billionaires in the world have as much wealth as the poorest 50 per cent of the world. So, that is 26 people owning as much stuff as 3.7 billion people.

Some of you may disagree with me, but the above figures are not sustainable. You will simply encourage the growth of endless misguided socialists, if you do not take serious measures to make the capitalist system fairer and more equitable.

In this regard, I would like to propose that a law be enacted in TT limiting CEO base pay to 20 times that of the lowest paid in the organisation, as a start.

GREGORY WIGHT, Maraval

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"Cap needed on base pay of TT CEOs"

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