Congress and wealthy CEO's do it. People on welfare and workers flipping burgers don't. Is it right?
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Is voting yourself a pay increase ethical?
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Cabal
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I think it's slightly inaccurate to say that rich do and poor don't, I think it's something that's fairly universal.
As to whether it's moral or not....well, it's understandable why people would do so I guess, but ultimately it is a short term self-centred gesture - not necessarily good for the country as a whole, especially as there is only so much to go around.
As to whether it's moral or not....well, it's understandable why people would do so I guess, but ultimately it is a short term self-centred gesture - not necessarily good for the country as a whole, especially as there is only so much to go around.
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If some organization exists (say, congress) where no one ever gets a raise, save by vote, then it is ethical. IOW, how can it be unethical when it is the way it is by social contract.
What may be unethical is to vote yourself a 20% pay increase that comes from the taxes of the people when inflation would only warrant, say, a 3% increase.
What may be unethical is to vote yourself a 20% pay increase that comes from the taxes of the people when inflation would only warrant, say, a 3% increase.
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No, CEO's don't do it. Typically their salary and benefits are determined by the Board of Directors. While one could argue the salary is being determined by the "good ol' boy network" and is that ethical, that would appear to be for another thread.
I had some ethical questions about Congress voting themselves a pay raise nearly 20 years ago, before the 27th Amendment was passed. With the 27th Amendment though, I don't think the same ethical problem exists since the voters can choose to remove those that voted themselves a pay raise prior to them receiving the raise (at least those in the House).
I had some ethical questions about Congress voting themselves a pay raise nearly 20 years ago, before the 27th Amendment was passed. With the 27th Amendment though, I don't think the same ethical problem exists since the voters can choose to remove those that voted themselves a pay raise prior to them receiving the raise (at least those in the House).
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Penumbra
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Who else would do it?
Congress sets its own salary, though in my opinion they do so rather reasonably. Government pay is usually good but rarely spectacular. If they set it too high, too many people will complain, and since they only get the salary if they are voted in, that matters to them.
As for CEOs, they usually have their salary set by the board of directors. If the CEO is immensely influential in the company because she or he owns a large stake in the company, then they may be able to set their own salary, but if they own such a large stake in the company, then it seems to me that it is their right to do so.
-Lyn
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I don't get the pass lots of you are giving CEOs. With the housing markets and financial markets tanking we have CEOs taking all kinds of large bonuses. Many funded by tax dollars. Doesn't that really miff you?
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I agree. Pay increases ideally should be attached to merit, and even then they should be reasonable. When a CEO doesn't perform well, he shouldn't get a pay raise just because he can. It's unethical (I'd feel guilty if I achieved poor results and got rewarded for it, wouldn't you?), and it's ultimately bad for the company, the stockholders, the lower workers, the customers, everyone really.
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LittleNipper
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The citizens can certainly ask that such raises need to be put to a national vote... And an Amendment could be added to the Constitution.
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I don't think anyone here is giving a pass to CEOs, just that it has been pointed out that CEOs do not give themselves pay raises. Instead, they have board of directors who determine what the CEOs pay and benefits will be.
Now, if you want to start a thread and question the morality of CEO pay, that could be interesting. While many of us (including me) find what CEOs make immoral, and that the Board is merely a group of other CEOs so they have an incentive to raise other CEOs pay (since those CEOs on their board will determine their pay), there are those who believe in laissez faire economics and that CEOs actually deserve the money they get.
Now, if you want to start a thread and question the morality of CEO pay, that could be interesting. While many of us (including me) find what CEOs make immoral, and that the Board is merely a group of other CEOs so they have an incentive to raise other CEOs pay (since those CEOs on their board will determine their pay), there are those who believe in laissez faire economics and that CEOs actually deserve the money they get.
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