Bad news: Mike Trotter is at it again. After six months of considering our last exchange on the subject of “excessive executive compensation,” Mr. Trotter has offered his reprise in the Oct. 18 Daily Report “Higher marginal rates revisited”. To provide context for those who did not witness February’s point-counterpoint, Mr. Trotter opined many months ago that too many top executives are being compensated excessively.
As liberals do with most problems, real or imagined, Mr. Trotter suggested that government should intervene to rid us of the scourge of “excessive compensation” by raising the marginal tax rates on compensation over a certain unidentified amount to remove any incentive to pay above that amount.
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