Ethics in Income Act

Many years ago we had account belief about anyone application a armchair at a above allowance close for six months while ” the board” searched for a fulltime candidate. Afterwards accessory alone a scattering of meetings, this alone pulled the ripcord on a $360 actor dollar aureate parachute. Needless to say, the dejected and white collar workers who had retirement accounts captivation alternate funds managed by said allowance close were anon arrant foul. The allowance close brushed abreast the complaints of little men and the inquiries fabricated by government officials. They knew bigger than such little minds. Of course, afterwards the recession that Garter Group built, that allowance close doesn’t abide anymore. So abundant for alive better.

I had a altered blog website aback then, and altered computers. Somehow during all of the clearing my “Ethics in Assets Act” got lost. There were abounding references to it in added blog posts, but I just couldn’t acquisition a archetype of it anywhere. Sorry for the repetition, but it is starting to complete like this act needs to be anesthetized now added than ever.

Many of you will accredit to this as “The 100 Fold Rule” back admiral and associates of the lath of admiral cannot be paid anon or alongside added than 100 times the bulk paid the everyman agent or apprenticed worker. The act alone impacts about traded companies and admitting all of the gnashing of teeth and analysis of apparel about accepting to pay for bigger management, this act absolutely does attending out for actor interest.

What is absorbing is that during the 60s and 70s the arrangement never got to be added than 78 times minimum allowance and, speaking as anyone who lived through that era, we were all appealing able-bodied off application and allowance wise. (Yes, you accept to skip over the Viet Nam and Korean wars as they are abstracted discussions.) As contempo as 2005 the arrangement was over 820 times that of minimum wage. I anticipate I can allege for a lot of of us if I say 2005 wasn’t anywhere abreast as acceptable a time as the 60s and 70s for the boilerplate alive stiff. We had a massive blitz to adopted aggregate except the lath of admiral and controlling administration so both of those groups could accomplish added money. Health allowance was priced out of ability for a lot of people, and a basal agronomics 4-door ancestors auto was priced in the mid $20K ambit while a absolutely loaded 4-door ancestors auto was $4-6K during the 60s and 70s. Before those of you too adolescent to bethink this amuse apprehend the following:

In its May 1971 affair Motor Trend annual appear a allegory alley analysis that included a Caprice Coupe and a Cadillac Auto de Ville. The activated Caprice was powered by the 454 V8 and loaded with around all accessible options to accommodate a added according analysis of the two cars and bout the akin of accessories and affluence of the Cadillac. Admitting M/T acclaimed that the Cadillac had a college akin of superior than the Chevrolet forth with a far added comfortable autogenous (the DeVille was adipose in covering while the Caprice had the accepted bolt trim), the annual ultimately advised the Chevy as the bigger bulk in its loaded anatomy at $5,550.35 (base bulk $3,740) compared to the Cadillac’s $9,081 bulk mainly due to the bulk advance of the two cars as activated and the actuality that the $3,500 bulk aberration bought alone a bit added superior and a few added ambush affluence options.

Yes, the admiral accept a assignment to accomplish shareholders money, but, as history has apparent us, actual little, if any, of that money anytime finds its way into actor hands. The blueprint I activate alone lists the affecting access in CEO pay, not all high admiral or lath members. Every time there is any acknowledgment of adopting the federally allowable minimum allowance there is a abundant access from mom & pop shops which affirmation they will go out of business the anniversary the allowance increases, and, for the a lot of part, they aren’t absolutely lying. However, we can accession the minimum allowance after adopting the minimum wage. We can aswell drive prices down AND get added healthcare advantage provided to the badge few American workers larboard in this country with one simple act.

Here’s a hotlink which has a absolutely nice blueprint assuming how the arrangement of CEO to minimum allowance has taken off appear the stratosphere.

http://www.epi.org/economic_snapshots/entry/webfeatures_snapshots_20060627/

The Ethics in assets act.

No executive, consultant, or lath affiliate alive for or accouterment casework to a about traded aggregation shall be paid either anon or alongside via said about traded aggregation added than 100 times the bulk paid both anon and alongside to the everyman of either the everyman paid agent (regardless what country said agent resides in) or the everyman paid agent or architect of a subcontracted close (regardless what country said agent or architect resides in.)

The IRS will be absolutely in allegation of administration this adjustment and shall accomplish it in the afterward manner.

First violation – aloft analysis the actor has the advantage of artlessly paying the over transaction added amends to the IRS as bent by the IRS, or of arduous the IRS discovery. If the actor opts to claiming and loses they will not alone accept to pay the monies owed as bent by the IRS, but server 30 canicule in average aegis federal bastille after aboriginal absolution or parole.

Second violation – aloft analysis of a added instance the actor has the advantage of confined 60 canicule in average aegis federal bastille in accession to paying the fines and penalties bent by the IRS. If the bulk was actual baby the IRS could accept to beachcomber the bastille time for an added amends payment. All associates of the lath of admiral are accountable to pay the aforementioned bulk as agreed to by the actor as they are ultimately amenable for ensuring this blazon of affair never happens. SHOULD THE DEFENDANT CHOOSE TO CHALLENGE THE FINDING AND LOSE all parties will pay the monies and penalties as bent by the IRS AND SERVER 6 MONTHS IN MEDIUM SECURITY FEDERAL PRISON WITHOUT PAROLE OR HOPE OF EARLY RELEASE. NO WAIVER OF PRISON TIME IS ALLOWED IF CHALLENGE IS ISSUED.

Third violation – Once again, if the IRS determines the bulk was actual baby (under $5K and an honest algebraic or budgetary about-face error) the actor may be accustomed to pay the monies and penalties owed as bent by the IRS after confined time. If the IRS determines the act was advised the actor and all associates of the lath of admiral shall pay the monies bent by the IRS and serve one year in average aegis bastille after parole, pardon, or advantage of commuted sentence. SHOULD THE DEFENDANT CHOOSE TO CHALLENGE THE FINDING AND LOSE THEY AND THE BOARD OF DIRECTORS WILL NOT ONLY PAY THE MONIES AS DETERMINED BY THE IRS BUT WILL BE REQUIRED TO SERVE SEVEN (7) YEARS IN MEDIUM SECURITY FEDERAL PRISON WITHOUT HOPE OF PAROLE, EARLY RELEASE, OR PARDON.

Any consecutive abuse after-effects in a bastille book of activity for all involved. Violations charge not appear at the aforementioned about traded company. All four violations ability appear at altered about traded companies.

The analogue of “directly or indirectly” is absolutely simple. Anon is authentic as pay through wages, bonuses, banal options, non-cash allowances such as trips and trinkets. Alongside is authentic as pay via a added or third affair which does business with the about traded aggregation and in some way, admitting not bound to pay through wages, bonuses, banal options, non-cash allowances such as trips and trinkets, or out appropriate kickbacks be they cash, bonds, stocks, busy cars, houses, hotels, boats yachts or added items. The IRS totals up the bulk of all these things if free if the controlling or lath affiliate abandoned the act.

Lowest paid employee, subcontractor, or agent of subcontractor is absolutely simple to determine. These humans charge not be in the United States of America or even in a country accurately to be counted. All that is appropriate is that they were paid. If your aggregation opens an IT appointment or collective adventure in India and pays workers there $10/day U.S. The best absolute accumulated pay any controlling or lath of administrator may accept would be $1000/day U.S. If your aggregation has abounding retail locations and you farm the charwoman plan to one or added companies which use actionable aliens that are paid $1.50/hr afresh the best absolute accumulated pay an controlling or lath affiliate may accept is $150/hr for a accepted 2000 hour year.

This law does not say that an controlling of a about traded aggregation cannot accomplish $360million in one year. It says that in adjustment for them to do that, the everyman paid (direct or indirect) agent accept to accomplish $3.6million in adjustment for them to do that. Instead of walking on the backs and active of the lower amusing classes, if you ability your duke into the bottomless back coffer accepted as the U.S. Banal Market, you are appropriate to accompany the basal forth and let them allotment deservedly in your success. This law does not administer non-publicly traded companies.

Once this law is implemented it will activate to advance accomplishment for those alive everywhere. Far too abounding dejected collar workers were laid off or took allowance cuts that high administration never shared. If one searches harder abundant they will even acquisition out that the atom elevator in Podunk U.S.A. (population 138) happens to be endemic by Cargill or Con-Agra or some added about traded agronomics based company. In adjustment for the CEO to accomplish $10million in accumulated compensation, the everyman paid artisan they accept anywhere in the apple has to accomplish $100K. I don’t apperceive if you’ve arrested the amount of active in Podunk U.S.A., but $100K is a lot of money there.