CBC NEWS: Canada’s richest CEOs have already earned the average worker’s annual salary

CBC NEWS: By 9:43 a.m.,January 2, 2023 Canada’s richest CEOs have already earned the average worker’s annual salary

https://www.cbc.ca/news/business/canada-richest-ceo-average-salary-1.6701407

Every year some folk seem to be surprised by this news.  The only surprise is how much greater is the spread between  these folk and most everyone else.  Analysts are trotted out to speak the usual words: companies need to pay more for the best talent.  This statement assumes that  CEOS all by themselves create the successes, or messes, of the companies they serve. That is not the case.  These folks have boards and executives to help in their success- or mess- making.  And every year CEOs and their executives tell each other they have done a very good job, and reward themselves accordingly. How they make those decisions on behalf of each other is never revealed of course.

Also, most persons  who have stock do not know that the salaries and options (etc) for these persons dilute the stocks they own.  While they are celebrating a few points up in their stocks, those holdings could have been higher if CEOs and their various lieutenants did not get paid such exorbitant remuneration.

Another way they get paid, and pay less tax at the same time, is that when a given company has a loss they can claim that loss on their taxes. And still get paid more.  So how much tax do these folk actually pay?

Another point.  How many $$$ is enough that one starts paying a reasonable tax to live in a country that is stable, safe and is run on the basis of the rule of law and the division of powers?  If one’s remuneration is large, their tax bill should be large-that is equity but it is also the necessity of supplementing Canada’s tax base so that we, together, can continue to have a country as described.

A last issue is how much the people in their companies actually get paid and how much tax they pay to support our country.  Is it just, or reasonable or financially justifiable that a few make eye watering salaries while others make so much less?  Nope.