Our State Senator, Mark DeSaulnier, has proposed legislation to punish companies that pay their CEOs higher compensation than he thinks is justified. The punishment is in the form of a higher state corporate tax rate.
This is wrong on many different levels, beginning with the idea that a company's compensation to its execs or workers is the company's business (literally!), not the State's.
Why is he doing this? It won't pass any sort of review and it will be absolutely trounced in the courts if it gets that far. Answer - Mr. DeSaulnier is running for Congress for the 11th district. What a great way to generate votes and publicity.
He's already received the endorsement from the SF Chronicle. Oh boy, here we go.