This week we’ve been asking listeners to suggest ideas on how to fix the economy. So far we’ve talked about raising inflation and boosting housing prices. Today we're talking about capping the total compensation that CEOs earn — including salary, benefits and bonuses — at $5 million. Any additional money would go back to the company, hopefully creating more jobs. Who would step up to do this? Perhaps Warren Buffett, in light of his recent op-ed for The New York Times.
We’ll talk more about this with personal finance adviser Alvin Hall. He says that the compensation packages CEO's receive are too high and they need to think about the greater good.