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Plato the great philosopher once said that no one within a community should earn more than five times the wages of an ordinary worker Today wherever Plato is buried he is rolling over in his grave In the most recent studies it has been found that CEOs can make up to 400 times that of the lowest paid worker in their corporation Lipman Executive pay is a huge controversy in todays society There is much debate throughout the media as to whether or not CEOs deserve the outrageous salaries and bonuses they receive Both sides of the argument present very valid points However the reader must analyze each side and choose the one which appeals to them the most There are numerous sources covering the dispute over CEO pay Some even claim that the media is the only cause of this well known argument Reynolds Throughout this essay two sides of a heated argument will be presented Finally in the conclusion one side of the argument will be sided with Historically CEOs have always been paid much more than their employees In 1929 Eugene Grace became the first million dollar CEO as the president of Bethlehem Steel Even though his salary was only 12000 Grace earned 16 million on bonuses In 1933 the issue of CEO compensation was brought before the Supreme Court after American Tobacco paid their president George W Hill 13 million The Supreme Court decided that salaries at publicly traded companies can be subject to judicial review In the 1950s the use of stock options blossomed as major parts of executive pay This was due to the passage of the Revenue Act which gave executives favorable tax treatment After stock options were made available in 1983 they became the biggest chunk of an executives pay Grover and Reingold President Clinton tried to halt the exponential rise of CEO pay by placing a cap on the tax deductibility of salaries in 1993 Grover
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