Do you think executive pay should be capped? | The Compost Bin | Forums

I've been watching this swiss story for awhile where a group was trying to make it so executive pay could not be more than 12 times the lowest paid person in the company, the swiss people voted yesterday and rejected it by a 2/3rds vote, I don't agree with the idea, I think it borders on a Atlas Shrugged utopian themed society, but I am surprised it got shot down by such as high percentage

Swiss voters have rejected a proposal limiting the salaries of top executives. About two-thirds of voters said no to the Young Socialists' plan. The aim was to reduce the salary gap to a 1:12 ratio – in other words to limit the salaries of top executives based on the annual minimum wage of the lowest paid employee within the same company.

The vote brings to an end to more than six months of intense campaigning by the youth wing of the centre-left Social Democrats who were backed by trade unions.

"We’re disappointed [we] lost today. Our opponents used scare tactics. Our fight will continue against fat cat salaries and an unfair pay system. This system has no future. We succeeded in mobilising many people and to launch a broad debate," said Young Socialists president, David Roth.

http://www.swissinfo.ch/eng/swiss_news/Salary_cap_fails_at_ballot_box.html?cid=37362410