This has a kind of weird, not necessarily bad effect. Since the main way this changes the CEOs life is their relationship to capital.
With income "caps," you no longer own a private jet, but you still fly on one.
The company hires your chauffeur, owns your vacation home, owns your private jet, hires your personal assistant, hires your other, more personal assistant, pays for your chef and maid, etc.
CEOs still live a life of luxury, but they are unable to acquire massive capital. If software engineers are labor aristocrats, CEOs become labor space emperors.
It definitely is more of an "east-coast" style of wealth, the kind of thing that shocked the "Traitorus Eight" when they were working with east coast finance to found Fairchild (if I'm remembering my history correctly.) But high marginal tax rates on the super rich were in effect at that time and they didn't understand the alternative either.
With income "caps," you no longer own a private jet, but you still fly on one.
The company hires your chauffeur, owns your vacation home, owns your private jet, hires your personal assistant, hires your other, more personal assistant, pays for your chef and maid, etc.
CEOs still live a life of luxury, but they are unable to acquire massive capital. If software engineers are labor aristocrats, CEOs become labor space emperors.
It definitely is more of an "east-coast" style of wealth, the kind of thing that shocked the "Traitorus Eight" when they were working with east coast finance to found Fairchild (if I'm remembering my history correctly.) But high marginal tax rates on the super rich were in effect at that time and they didn't understand the alternative either.