CAP THE AMOUNT OF COMPENSATION PAID TO AN EXECUTIVE THAT CAN BE DEDUCTED AS A BUSINESS EXPENSE TO $1 MILLION

To be sure, executive pay in the United States is vastly higher than necessary. Executives in other countries, whose pay is often less than one-fifth that of their American counterparts, seem to work just as hard and perform just as well.Despite the fact that we have bailed out these businesses using taxpayer money they continue to overpay their executives. Just recently Jamie Dimon, who is CEO of a JP Morgan, a bank that was involved in various illegal activities in 2013 and was significantly fined, received a $20 million bonus. While we cannot legislate how much a public company can pay its executives we can limit the amount they can deduct as a business deduction so the American taxpayer does not subsidize these enormous compensation packages.