News and Commentary

WATCH: DNC Vice-Chair Keith Ellison Goes Radical: Let’s Have Government Regulate Pay Structure of Companies

On Wednesday, Rep. Keith Ellison (D-MN) decided he would show that he’s the baddest radical on the block, agreeing that government intervention in the pay structure of companies would be a good idea.

Interviewed on Bloomberg, Ellison cited his report which claimed CEOs make, on average, 339 times as much as the median employee.

Bloomberg host David Westin prompted, “Is it enough to just get disclosure? Because I think that’s what you’re advocating. This is not a big secret to shareholders. It’s not a big secret to board directors. Don’t you need direct government intervention? Are you favoring the government actually regulating the relationship between CEO pay and the average worker?”

Ellison responded:

I think it is a very good idea, and I think we should start talking about it. But I want to go further than that; I’d like to see shareholders say, “Wait a minute, what’s going on with my dividend? What kind of risks are you taking on to get these exorbitant amounts of money that could end up imperiling the company. This is a broad conversation that needs to, of course, take in policymakers like me, but shareholders and investors need to be worried about this too because I don’t think this leads to the overall health of the company. I think it takes care of a few people at the very tip-top.

In January, Ellison was asked, “Since January 20, 2017, organizations outside of the Democratic Party, notably Indivisible and Democratic Socialists of America, have expanded in numbers and mobilizing power. What role will growing organizations such as these play in the trajectory of the “Resistance,” as it might be called, and what implications would you say that this bears for the Democratic Party’s leadership?”

Ellison answered, “ … how does it affect the Democratic Party? Well, it enhances us, because it means that more people are engaged, more people are involved. … So, no matter who’s organizing who, as long as the folks are organizing for an agenda of a fair economy and an inclusive society, it’s going to benefit the Democratic Party. And yes, they’re going to impact the Democratic Party. …”

Video below: