Should Government Officials and Corporate CEOs cut their own salaries?

Question

Should they decrease their OWN salaries when their economies' prosperity falters, to be moral? Is there anyone who would do their jobs for less money?

Good answers from most so far, CHX, you don't know me and how much egalitariblah blah blah.

How about the second part of my question?

To furthers answerers, do not assume I don't know about board of directors voting, but try researching this issue more.

Answer 1

Hell yes! There shouldn't be such a huge gap between the rich and the middle class and the poor. Once you make several million dollars a year--do you really need more??? And politicians, don't even get me started.....

Answer 2

If government official cut their own salaries, then it would make it every harder for regular people to run for these public offices. A rich person can easily be an elected official without money or salary. Let's have quality public servants, not public SLAVES.

The CEO of a corporation gets his salary set by his board of directors. The board is made up of individuals that have the best interests of "the company" in mind. So when a CEO makes a great deal of money, it is with the consent and approval of that board.

If a corporation CEO is making more money each year, then so is the company. So for employees, this is a good thing. When employees are let go, while distasteful, it is for the good of the company. When the company cuts the CEO salary, it would be for the benefit of the company. The CEO might decide to see greener pastures somewhere else.

This is a complex issue, but money TALKS when you want the right people.

Answer 3

Why only Government officials? How about the Advocates and Doctors who are self employed and have their own offices and clinics? By the by, what is the salary of these advocates and doctors?
As long as everyone pays their taxex honestly in a country, changing the tax structure according to the needs is the only positive way to generate more funds for the government.
VR

Answer 4

First of all, define a "government official". Are we talking about elected officials, political appointees, or career bureaucrats?

As to CEOs, there's no need to cut their salaries. The bulk of their compensation comes from stock options or stock grants (salary usually is just a small part of the total package), so their compemsation depends primarily on the company's stock performance.

Answer 5

Government officials sure as hell should since they are being paid with money that belongs to us, the people. CEOs are in a different category, they are paid based on the market. If the market doesn't have a need for their service, they will phase out on their own. Unfortunately, we have a very hard time phasing out unnecessary and unwanted government leaders.

Answer 6

yes, the GOV officials make way to much money and have way to good benefits while over 47 million americans right now don't even have health insurance.

CEO's are a different story, i think its a matter of cut and run and the shareholders for some reason put up with this stuff.

Answer 7

They have important jobs, and through your eglitarianism, you fail to realize that THE BOARD OF DIRECTORS sets the salaries of a C.E.O. The C.E.O., at best, may only own 1% of his company's stocks. If they could cut their own salaries, then they would to save the company. If the company is doing fine, no one should care. Congress, however, sets its own salary, and through this deficit they show no signs of cutting it. Surprise, surprise.

Answer 8

Surely yes as they cut our pockets side by side other then their salary which they receive

Answer 9

they make too much money for screwing up the country

Answer 10

That is like asking should criminals arrest themselves.