Conservatives don’t like safety nets because they allegedly make people lazy and careless. But what about safety nets for top executives who fail? Yahoo’s recent decision to pay its chief operating officer $96 million for 15 months of work before firing him is just the latest example of handsome rewards for failure in corporate suites.
At least safety nets for the poor help those in need. Safety nets for corporate executives give them no reason to work hard because even when they fail they can vastly increase their wealth. One way to discourage these is to prevent corporations from deducting generous executive severance payments from their taxable incomes. What do you think?
So, what do you think?