Regarding the opinion article, “Congress’ wrong-way approach to CEO pay” by Michael Dorff on Oct. 22:
The United States Bureau of Labor Statistics publishes the median income of the nation’s CEOs at $176,840, or about four times the annual full-time worker salary. Clearly, any free enterprise system needs a ratio greater than 1:1, and just as clearly, the ratio of CEO to worker compensation in the United States is not the outrageous ratio implied by Professor Dorff.
While it is true that the top 10 American CEOs make an average of $22 million per year (including salary, long-term incentives and short-term incentives), it is also true that the top 10 celebrities in America make an average of $70.3 million per year. Median income for law professors is $112,700, teachers make $36,000.
It is our responsibility to manage those who we elect to serve us, but it is getting harder and harder to fulfill our responsibilities when our performance reports reflect the ideological bias of the authors.