On Sunday Republican presidential hopeful and front-runner Donald Trump spoke out against high CEO salaries in America.
Trump said it was a difficult subject to undertake because in his opinion too many corporate boards are insulated from outside influence and often include friends of the CEO’s in question.
This may come as retaliation to retailer Macy’s Inc., which recently stopped selling Trump’s clothing line after his remarks about immigrants being rapists and drug dealers.
“You’ll take a company like, I could say Macy’s or I could say many other companies, where they put in their friends as the head of the company and they get whatever they want,” Trump said.
For his part Trump does seem to be speaking to a large section of American voters when he tackles CEO pay. This was one of the key issues the Occupy Wall Street movement worked to address, and Hillary Clinton has also attacked the pay of chief executives during her campaign.
A recent report by Glassdoor.com found that CEO pay is about 204 times that of the average worker. Trump, who himself is head of a billion dollar company, does see this as an issue.
“It’s disgraceful. Sometimes the boards rule but I would probably say it’s less than 10 percent; and you see these guys making enormous amounts of money. It’s a total and complete joke,” Trump said.
However, he has yet to lay out a plan to fix these issues. Instead, his tax plan would give breaks to the middle class and corporations, while increasing the contributions of groups like hedge fund managers, with no mention yet whether CEO’s would see an increase.
If elected Trump says he would like to have notorious shareholder activist Carl Icahn become his Treasury Secretary.
Icahn also has expressed the same concerns about CEO pay in the past.