The Washington Post reports that Americans greatly underestimate the remuneration gap between the average worker and the American CEO. They are under the impression that it’s a multiple of about 30 times. In fact it’s the highest in the world – 350 times. The average CEO in the US makes $12 million, twice as much as those in countries, such as Switzerland and Germany, where the second highest paid CEOs live.

The CEO doesn’t actually do anything. His main qualifications for the job are, first, to be good looking and have a square jaw, and, second, to be an excelent company politician. He jets around in the company aircraft, attends the odd meeting and spends most of his time on the (company subsidized) yacht. The last thing he thinks of, or meets, is an actual customer, nor does anyone from outside the company reach him on the phone. So it doesn’t matter if you keep changing the name plate on his office door.

So what we need to do is to pass legislation that limits the reign of any CEO to 12 months. At the end of each year someone else takes over. This would mean that there would, in due course, be tens of thousands of different people, all worth $12 million.

Lots of people like you and me with $12 million! Now think what that could do for the economy!