New economy

[Spongebob]

Not anymore than knowing the upper limit of the salary for your next promotion does now.

Taking a higher level position often involves much higher responsibility.  CEO's especially.  I can remember back in the 90's, when CEO pay was starting to skyrocket, companies often justified these higher salaries with the argument that this was necessary to attract really talented individuals who could lead the company to the next level, whatever that is.  If any part of that is true, then capping CEO pay would diminish this in some way.  What would you say to a board who says we need to be able to offer the next CEO $100 Million but the cap is $2.5 Mil?

Understand that I'm no fan of these stratospheric salaries, but I can't just arbitrarily make the argument that they deserve less.  We need a genuine argument to counter this.  "Give that money to the maintenance crew and the company will soar" just isn't a compelling argument.