These are Canada’s top 100 highest-paid CEOs for 2018 - Macleans.ca
 

These are Canada’s top 100 highest-paid CEOs for 2018

Valeant Pharmaceuticals International tops the list for a second year running—even after a $100 million pay cut for its CEO


 
Magna International CEO Donald Walker

Donald Walker of Magna International tops the list of Canada’s highest paid working CEOs—second only to Valeant Pharmaceuticals CEO Joseph Papa. (Chris Young/CP)

Valeant Pharmaceuticals International tops the ranking of Canadian CEO salaries for a second time this year—and that’s after a $100 million pay cut. Michael J. Pearson, Valeant’s former CEO, smashed the record for the top spot last year with $183 million in total compensation; this year Valeant’s new CEO, Joseph Papa, held on to the number-one ranking with $83 million. Despite that 55% pay cut, Papa still easily bested the second-highest paid CEO on the list, Magna International’s Donald Walker, at $28 million.

This ranking is compiled each year by the Canadian Centre for Policy Alternatives, using publicly available data. (Companies take varying amounts of time to disclose executive compensation, which is why this ranking covers the year 2016.) The left-leaning think tank uses the figures to highlight the gap between what the average Canadian makes compared to C-suite executives. This year’s average CEO salary among the top 100 highest-paid executives topped $10.4 million, which is 209 times the annual wage of an average Canadian.

The report’s author, CCPA Senior Economist David Macdonald, said the growing gap between CEOs and the average employee is particularly stark as several of these business leaders—Loblaw Cos. CEO Galen G. Weston, for instance—have been vocal opponents of raising the minimum wage. “Canada’s corporate executives were among the loudest critics of a new fifteen dollar minimum wage in provinces like Ontario and Alberta, meanwhile the highest paid among them were raking in record-breaking earnings,” Macdonald said in a news release.


Canada’s Top 100 Highest-Paid CEOs

Rank Company Title Name Base
Salary
Other
Compensation †
Total
Compensation
1Valeant Pharmaceuticals International IncCEOJoseph Papa *$1,299,990$81,831,262$83,131,252
2Magna International IncCEODonald Walker *$430,781$28,183,681$28,614,462
3Rogers Communications IncFormer President & CEOGuy Laurence$1,029,711$23,573,282$24,602,993
4Macdonald Dettwiler & Associates LtdFormer President & CEODaniel Friedmann$266,831$21,160,422$21,427,253
5Canadian Pacific Railway LtdCEOHunter Harrison$2,904,595$15,925,199$18,829,794
6Thomson Reuters CorpPresident & CEOJames Smith *$2,109,541$15,667,917$17,777,458
7Encana CorpPresident & CEODoug Suttles *$1,370,511$16,221,594$17,592,105
8CCL Industries IncPresident & CEOGeoffrey Martin$1,313,760$16,056,422$17,370,182
9Valeant Pharmaceuticals International IncFormer CEOJ. Michael Pearson *$887,104$14,984,687$15,871,791
10Waste Connections IncCEO & ChairmanRonald Mittelstaedt *$1,284,390$14,570,270$15,854,660
11Manulife Financial CorpPresident & CEODonald Guloien$1,803,437$13,577,618$15,381,055
12Linamar CorpCEOLinda Hasenfratz$618,431$14,023,043$14,641,474
13Waste Connections IncFormer President & CEO, Progressive WasteJoseph D. Quarin *$86,034$14,106,756$14,192,790
14Telus CorpPresident & CEODarren Entwistle$1,375,000$11,530,331$12,905,331
15Bank of Nova ScotiaGroup Head, International Banking & Digital TransformationIgnacio Deschamps$524,686$12,227,722$12,752,408
16Bombardier IncPresident & CEOAlain Bellemare *$1,381,415$11,196,594$12,578,009
17Royal Bank of CanadaPresident & CEODavid McKay$1,466,667$10,778,726$12,245,393
18Cott CorporationCEOJerry Fowden *$1,193,054$10,938,703$12,131,757
19Linamar CorpChairmanFrank Hasenfratz$446,064$11,551,891$11,997,955
20Canadian Natural Resources LtdExec ChairN. Murray Edwards$1$11,893,925$11,893,926
21CGI Group IncPresident & CEOMichael Roach$1,373,000$10,448,659$11,821,659
22CGI Group IncFounder & ExecSerge Godin$1,373,000$10,442,999$11,815,999
23Bank of Nova ScotiaPresident & CEOBrian Porter$1,000,000$10,763,714$11,763,714
24Canadian National Railway CoFormer President & CEOClaude Mongeau$1,457,280$10,122,786$11,580,066
25Agrium IncPresident & CEOCharles Magro *$1,496,304$10,026,084$11,522,388
26Suncor Energy IncPresident & CEOSteven Williams$1,375,000$10,107,343$11,482,343
27Enbridge IncPresident & CEOAl Monaco$1,377,000$10,014,427$11,391,427
28TFI International IncPresident & CEOAlain Bedard$1,742,112$9,616,501$11,358,613
29Quebecor IncPresident & CEOPierre Dion$1,300,000$9,998,655$11,298,655
30Barrick Gold CorpExecutive ChairmanJohn Thornton *$3,313,700$7,955,794$11,269,494
31Power Financial CorpPresident & CEOJeffrey Orr$4,450,000$6,773,367$11,223,367
32Shaw Communications IncExecutive ChairJames Robert Shaw$1,355,682$9,852,569$11,208,251
33Endeavour Mining CorpFormer CEONeil Woodyer *$795,369$10,167,578$10,962,947
34Linamar CorpPresident & COOJim Jarrell$480,569$10,364,126$10,844,695
35BCE IncPresident & CEO, BCE & BellGeorge Cope$1,400,000$9,361,529$10,761,529
36Agnico Eagle Mines LtdVice-Chair & CEOSean Boyd *$1,550,732$9,199,149$10,749,881
37Bank of MontrealCEOWilliam Downe$1,987,650$8,653,658$10,641,308
38Aecon Group IncFormer President & CEOTerrance L. McKibbon$689,555$9,870,233$10,559,788
39Onex CorporationCEOGerald Schwartz$1,723,124$8,763,565$10,486,689
40Toronto-Dominion BankPresident & CEOBharat Masrani$1,000,000$9,343,954$10,343,954
41Alimentation Couche-Tard IncPresident & CEOBrian Hannasch$1,587,353$8,673,347$10,260,700
42Transcanada CorpPresident & CEORussell Girling$1,300,008$8,838,014$10,138,022
43Celestica IncPresident & CEORobert A. Mionis *$1,126,773$8,794,228$9,921,001
44Teck Resources LtdPresident & CEODonald Lindsay$1,493,500$8,050,980$9,544,480
45Canadian Imperial Bank of CommerceCEOVictor Dodig$1,000,000$8,191,750$9,191,750
46Open Text CorpCEO & CTOMark Barrenechea$1,251,142$7,795,728$9,046,870
47Sun Life Financial IncPresident & CEODean Connor$1,076,923$7,926,771$9,003,694
48Air CanadaPresident & CEOCalin Rovinescu$1,400,000$7,599,225$8,999,225
49Kinross Gold CorpPresident & CEOPaul Rollinson *$1,283,383$7,063,037$8,346,420
50Goldcorp IncPresident & CEODavid Garofalo$1,250,000$7,069,888$8,319,888
51Canadian National Railway CoPresident & CEOLuc Jobin$1,106,208$7,195,958$8,302,166
52Canadian Natural Resources LtdPresidentSteve Laut$567,000$7,672,154$8,239,154
53Shaw Communications IncPresidentJay Mehr$1,491,250$6,697,816$8,189,066
54Restaurant Brands International IncCEODaniel Schwartz$1,060,384$7,123,120$8,183,504
55National Bank of CanadaPresident & CEOLouis Vachon$1,125,015$6,990,168$8,115,183
56Canadian Imperial Bank of CommerceGroup Head, CMOHarry Culham$500,000$7,552,550$8,052,550
57Cenovus Energy IncPresident & CEOBrian Ferguson$1,350,000$6,691,460$8,041,460
58Fortis IncPresident & CEOBarry Perry$1,100,000$6,906,611$8,006,611
59Eldorado Gold CorpPresident & CEOPaul Wright$902,800$6,895,680$7,798,480
60Endeavour Mining CorpPresident & CEOSebastien de Montessus *$1,193,054$6,565,881$7,758,936
61Hudson's Bay CoGoverner & Exec ChairRichard Baker$790,140$6,959,888$7,750,028
62Imperial Oil LtdChairman, President & CEORich Kruger$1,139,328$6,438,490$7,577,818
63George Weston LtdChairman & CEO, George Weston Ltd. & Loblaw Cos LtdGalen G. Weston$1,100,000$6,441,156$7,541,156
64George Weston LtdFormer President & CEOPaviter Binning$1,100,000$6,416,676$7,516,676
65National Bank of CanadaEVP Financial MarketsDenis Girouard$333,691$7,126,142$7,459,833
66Transalta CorpPresident & CEODawn L. Farrell$960,556$6,429,222$7,389,778
67Novagold Resources IncPresident & CEOGregory Lang *$979,773$6,279,620$7,259,392
68Shaw Communications IncCEOBradley Shaw$2,259,470$4,978,018$7,237,488
69Gildan Activewear IncPresident & CEOGlenn Chamandy$1,056,146$6,037,469$7,093,615
70Power Corporation of CanadaDeputy Chairman & Co-CEOAndré Desmarais$1,175,000$5,700,897$6,875,897
71Intact Financial CorpCEOCharles Brindamour$1,048,231$5,774,186$6,822,417
72Canadian Tire CorpPresident & CEOStephen Wetmore$596,154$6,222,158$6,818,312
73Power Corporation of CanadaChairman & Co-CEOPaul Desmarais, Jr.$1,175,000$5,598,689$6,773,689
74Maple Leaf Foods IncPresident & CEOMichael H. McCain$1,080,104$5,473,952$6,554,056
75Ritchie Bros AuctioneersCEORavi Saligram$1,325,480$5,129,905$6,455,385
76SNC-Lavalin Group IncPresident & CEONeil Bruce$1,100,000$5,312,211$6,412,211
77National Bank of CanadaCTO & EVP Strategic InitiativesRicardo Pascoe$450,006$5,910,957$6,360,963
78Husky Energy IncFormer President & CEOAsim Ghosh$1,597,140$4,738,303$6,335,443
79Mitel Networks CorpPresident & CEORichard D. McBee *$1,069,631$5,234,927$6,304,558
80Brookfield Asset Management IncSenior ManagingBruce Flatt *$795,334$5,385,958$6,181,292
81Transcontinental IncPresident & CEOFrançois Olivier$995,649$5,123,419$6,119,068
82Great-West Lifeco IncPresident & CEOPaul Mahon$1,135,327$4,928,837$6,064,164
83Methanex CorpPresident & CEOJohn Floren$951,000$5,094,953$6,045,953
84Riocan Real Estate Investment TrustCEOEdward Sonshine$1,300,000$4,703,700$6,003,700
85Hudson's Bay CoCEOGerald Storch$1,580,280$4,380,221$5,960,501
86Cameco CorpPresident & CEOTim Gitzel$1,025,000$4,899,134$5,924,134
87Finning International IncPresident & CEOScott Thomson$927,000$4,950,749$5,877,749
88Brookfield Asset Management IncSenior Managing PartnerBrian W Kingston$927,890$4,840,933$5,768,823
89Nevsun Resources LtdPresident & CEOClifford T. Davis$730,000$4,885,523$5,615,523
90CAE IncPresident & CEOMarc Parent$888,667$4,720,910$5,609,577
91Saputo IncPresident & COODino Dello Sbarba$1,025,000$4,473,143$5,498,143
92Yamana Gold IncChairman & CEOPeter Marrone *$1,957,403$3,524,657$5,482,060
93IGM Financial IncPresident & CEO, Mackenzie Inc & Mackenzie InvestmentsBarry McInerney$477,564$4,916,208$5,393,772
94Atco Ltd & Canadian Utilities LtdPresident & CEONancy Southern$1,000,000$4,371,540$5,371,540
95IGM Financial IncPresident & CEOJeffrey Carney$1,116,667$4,213,181$5,329,848
96B2Gold CorpPresident & CEOClive Johnson$1,000,000$4,305,796$5,305,796
97Franco-Nevada CorpPresident & CEODavid Harquail$751,050$4,543,096$5,294,146
98Lundin Mining CorpCEOPaul Conibear *$864,397$4,401,695$5,266,092
99Saputo IncCEOLino Saputo Jr.$1,300,000$3,900,000$5,200,000
100TMX Group LtdCEOLouis Eccleston$750,000$4,428,401$5,178,401
* Compensation converted from USD; † “Other Compensation” includes: cash bonuses, stock-based bonuses, options-based bonuses, pension value, and any other payments aside from base salary. Full details at the Canadian Centre for Policy Alternatives.

This post originally appeared at Canadian Business.

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These are Canada’s top 100 highest-paid CEOs for 2018

  1. Obscene.

  2. Some perspective is in order. How about a list of the 100 highest paid public sector employees in Canada? Unlike the shareholders of these companies, who have a direct say in the levels of compensation, we taxpayers have no say in the level of compensation handed over to underworked and often corrupt public employees.

    • Wrong assumption Bill.
      Board of Directors of these Corporations decide levels of these outrages compensations.
      Please check who are the people on these Board of Directors – the same people who are on the list plus few ex politicians like former PM’s, former Premiers or Finance Ministers, ETC.
      You know this old saying: “Who has gold makes golden rules”!!
      Is it fair that these people make in a less then an hour what average Canadian makes in a year?

  3. With a combined salary of $40,000,000.00 (claimed) just those 100 people take as much as 80,000 full time employees earning $50,000.00 annually.

    If just those 100 were forcibly brought down to a decadent 1 million each annually, then an additional 79,800 Canadians could earn a living wage.

    • Typo:combined salary of $4,000,000,000.00

  4. Now extend that to everyone taking more than $1,000,000.00 per year and how many Canadians could earn a living wage.

    Sure, this might mean that some of the extended families of the 1% may actually need to get a job.

    But at 1 million that’s still 20 times the average living wage. I challenge anyone to walk into any blue collar bar to explain why they deserve to earn 20 times what everyone else does.

    What is the carbon footprint of someone earning what 800 people do? Keep the limo running while getting ready for the private flight to the Caribbean for that monthly vacation on the private yacht.

    • Okay, do the math. That list represents $4 billion. If we assume that 8 million Canadians need a raise, that’s a total of $500 each.
      Now let’s look at the real world. Do we want to live in a world where the government decides who gets to earn how much? Do you really think that the list of the highest paid people in the country would not read like a who’s who of the Liberal Party of Canada in about a year? Better yet, do you want to live in a country where that type of thinking has always led to the formation of socio-economic backwaters?
      There’s another real world, here. The federal government wastes and misallocates hundreds of dollars per Canadian per year. Simply fixing the spending problems that are endemic within every level of government would not impinge upon anyone’s freedoms, and have substantial economic benefits.
      Then there’s the wasteful, productivity and job killing initiatives that governments impose, always proclaiming that this next policy is just the very ray of sunshine Canada needs to grow and prosper, in spite of the usual evidence to the contrary.
      Carbon taxes will rob every Canadian of hundreds of dollars per year. Wasteful and fraudulent deficits will cost the economy thousands of jobs when the time comes to pay down the public debt. Mindless adherence to “progressive” ideology by way of anti-global warming initiatives or unsustainable minimum wage increases, that only put people out of work, are all more costly to Canadians than what executives at large companies, that no one is obligated to do business with, get paid.
      It takes a special kind of stupid to put an article like this together.

    • The people on the list above “deserve” to make that kind of salary because it’s the salary that the market is willing to pay for the rare, highly in demand skill set that these CEO’s possess. I understand that people like you throw around words like “fair” and “deserve” while not possessing the most basic understanding of economics, but salaries and wages, absent of government intervention, are determined by supply and demand. It is a remarkably simple concept that so many seem to get wrong.

      • Let’s dig further into it. Last time I checked, all governments are non-profit entities. However, we see executive pay within government reflecting private sector pay trends (irrespective of the fact that mainstream public employees earn more than the private sector for similar jobs), in spite of a complete lack of evidence that we are getting top-notch executives for top-notch pay.
        Given that one cannot go a day without reading about some new public sector fiasco that virtually always comes down to lousy management, why are we paying out these kinds of salaries?
        Further again, why are we paying $200K-300K for university professors, and junior ministers, and directors of public health agencies, and so on and so forth. There’s no evidence that we’re getting the kinds of people we’re paying the big bucks to get.
        If we’re going to squawk about private sector pay, then it’s up to government to show leadership in this area.
        If the average Canadian earns a hair under $50K per year, then the average federal worker should earn only that, including perks. The maximum one should be able to earn in federal employ is 2.5 times the average Canadian family income, and public sector pensions, regardless of earnings, should max out at 75% of the average annual Canadian income. Or, move the entire public sector to a defined contribution pension plan.
        Public payrolls need to be closely monitored. No more than 10% of the public workforce should be earning in the top 10% of incomes, and so forth. Payroll represents the bulk of all taxation, and public payrolls are bloated, with too many workers and earnings that are out of step with reality.
        It’s the height of hypocrisy to whine about corporate pay, while ignoring the very real costs to Canadian families that the resistance to curbing out-of-control payroll costs within all levels of governments represents.

      • Please ARK2. Deserve to make those salaries? Rare, high in demand skill sets that those CEO’s possess? Come one. You really believe that? Some of these CEO’s may have excellent skill sets and proper emotional intelligence and respect of their employees, but there are thousands of people out there with MBA’s. You can plug in all kinds of people into these positions. It’s a crock that they deserve this pay. They deserve reasonable pay. Not these absurdities.

        • Grant P – the fact that you believe that it simply requires an MBA to be a top executive is quite telling. That being said, if they don’t “deserve” what they are currently earning, pray tell, what do they deserve? Apparently, according to you, a free market is not a suitable instrument to determine what someone deserves, so how should their salaries be decided? Does the great emperor, Grant P, get to arbitrarily decide?

          I find it interesting how articles like these tend to garner outrage and proclamations of unfairness, yet professional athletes and movie stars also earn tens of millions of dollars each year and no one really seems to care. Why is that? After all Grant, if any old MBA could be a Fortune 500 CEO, then surely any able bodied person could be a franchise athlete.

          • Grant P- Do you at least agree that the ideal place to start is with the public sector? By tackling the pay/perks issues there, we can make substantive savings that all Canadians would benefit from, without undermining simple economic freedoms.
            Another point- Even if you passed laws restricting private sector compensation, why would you assume the money saved would flow to government instead of to the shareholders of the corporations?

      • Words like “fair and deserve” make you squirm, not me.

        My expertise is the science of the study of work. Money represents work, nothing more or less.

        The “market” represents the corruption of our fictional economy.

        How much would you pay for cancer treatment for your child? The “market” is extortion.

        When the “market” drives the economy, only the corrupt benefit.

        • The words “fair” and “deserve” make me squirm because they are subjective words that hold no objective meaning. If they don’t make you squirm, then I suspect that you haven’t thought of what they truly represent enough.

          If your expertise is, as you say, the science of the study of work, may I assume that you are paid for such study? If so, and the nonsense in your post is any indication of what you bring to your profession, let me congratulate you on bamboozling your employer for paying you anything at all.

          Please explain how the market represents corruption of a fictional economy when we are talking about the consensual transaction between an employer and a prospective employee negotiating a wage. You might want to look up the definition of the words “corruption”, “fictional”, and “economy” before responding because their meaning seem to elude you in your myopic, cliched sentence.

          Also, please explain your alternative to the market determining salaries. I’d love to hear how endowing the government with absolute power over personal income would lead to less corruption lol

          • You squirm simply because you don’t value the clear meaning of those words, but you know you should.

            Truth, honesty, ethics and morality probably have the same effect on you.

            You are on the side of corruption. You are bound to the “market” like an addict to a dealer. You can’t imagine anything else.

            Nothing I say can make you feel better about that.

            Fair: free from bias, dishonesty, or injustice:

            Deserve: to be worthy of, qualified for, or have a claim to reward, punishment, recompense

  5. You social justice snowflakes crack me up. You get your panties all wadded up over a bunch of rich guys you think make too much money, even though you’re perfectly free to not do business with any of their companies.
    However, you can’t even begin to engage in the idea that we should apply the medicine you want them to swallow to the bloated payrolls of government, a move that could mean hundreds of dollars in annual savings for every family in the country. Just another sign that the left is intellectually moribund and incoherent.

    • To the intellectually moribund, all issues reduce to “right and left”.

      To everyone else, the issues are right and wrong.

      • That’s just dumbass deflection, Rob. Leftism equates with a tendency toward statism. The underpinning sentiment of this article is that the state needs to intervene in how companies pay their executives. This is mirrored in the mad rush to higher, job-killing, minimum wages enforced by state authority.
        When a more workable suggestion is offered, one that would have a direct financial benefit to the entire populace, and would serve to push back against the greed of the state, people such as yourself resort to complaining about being accurately described as leftists. It’s a win-win, yet you guys who only ever look to the state for solutions to problems that you largely imagine, can’t wrap your head around it.

        • That’s not deflection.

          It’s called leadership. Developing and executing plans to meet and exceed specific objectives.

          Like it or not, our leadership is government.

          Decentralization by making hundreds of narcissistic “kings” is no plan for leadership of any civilization.

          I like the idea of democracy where I have input in the direction of our civilization.

          Does that make me a lefty in you’re binary perspective? Fill your boots.

          • “Does that make me a lefty in you’re binary perspective?”

            That makes you an idiot Rob…

          • But Rob, your whole position is based on using the coercive, confiscatory, and corrosive authority of the state to achieve a nebulous and somewhat arbitrary goal of equality. So, if government is leadership, why would we not then expect that a far more egalitarian effort within government to be worth pursuing.
            You have to remember, it’s exactly the kind of non-egalitarianism within government that I’ve described as a growing problem here that has destroyed every socialist country. Socialism collapses when the people become economically enslaved to their government. We’re on our way to that right here in Canada.
            So, what’s the socialist way to solve it? Trim the costs of government by imposing a more egalitarian cost structure.
            Yet, you, and every other lefty I throw the idea at rejects it outright, simply because I’m a conservative.
            Socialism always fails because the people who are compelled by government (i.e. anyone who does not work in government) to support socialism are consistently not allowed to be capitalists. Meanwhile, those who volunteer to be socialists (work in government jobs) are consistently allowed to act like unfettered robber-baron capitalists.
            I merely suugest we level the playing field in a manner that does not invoke the confiscatory power of the state.

          • Firstly let me assure you that I value truth as discerned by logic, science, intelligence, and honesty.

            I think left, right, capitalism and communism nothing more than incomplete nonsense meant to divide us. People lose far more credibility by valuing them than by simply choosing the only sides available.

            Government is our leadership that makes laws to achieve the betterment of society, but it is not above those laws.

            Any society will fail when it’s leadership is corrupt, in different ways.

            All corruption needs to be eliminated.

            The terrifying authority you describe are simply laws and regulations.

            You can’t drive an unlimited speed on city streets without having your car and freedom confiscated. I expect you consider that law reasonable.

            I’m merely suggesting that we should have a law to limit how much wealth people can take from our economy for personal use.

            Leadership should determine how the excess is used to bring all full time working people up to a living wage.

            I think that will help everyone stay away from crime, out of jail, off drugs and have self respect.

          • In addition, economies are designed to manage work and resources for the betterment of society. They are not intended to eliminate corruption.

            I don’t know why people expect them to do both.

            We have leaders to design economies an eliminate corruption with laws.

          • (Stupid post button close to text box)

            Continued,

            So when we have a good economic system that manages work and resources we will have excess for growth.

            In one system, the excess goes to leadership to manage the betterment of society, in another it goes to greedy narcissistic individuals.

            Only one fails in theory.

          • While we have dumb and corrupt government leaders, capitalism puts smarter people in charge of the economy.

            But we have the ability to eliminate corruption now.

            By criminalizing lying and empowering everyone to digitally record what we witness, everywhere, lying/corruption will be eliminated.

            If we eliminated corruption, socialism with advancement potential would be better for society.

          • “Democratic socialism with advancement potential”

        • There could be a really smart and effective leader, but if they’re also corrupt, they’re the last person you’d want in charge.

          That’s why we can wait for Trudeau to be replaced.

  6. But Rob, you’re still dodging my point. Your solution to what you see as a problem requires a severe imposition of the state upon consensual economic transactions.
    My solution removes the heavy and error-prone hand of the state. If we simply reduced the average earnings of federal employees only, to equal that of the general public, we save some $10 billion per year. You could easily double the basic personal exemption on our federal taxation, and not use up that $10 billion. That would be more helpful than your solution, because your way requires taking money away from people, then filtering it through the greedy hands of the public service, who will siphon off most of it for pet projects and pay raises for themselves.
    What’s the worst that could happen doing it my way? So what if some government employees quit? Many are doing nothing useful to anyone, so if they stop doing that, who will notice?
    However, aggressive confiscation of private money always has consequences. Capital flight is a real thing. Any number of those executives on that list can move themselves offshore, and live and work where the taxation is not nearly so aggressive. You can’t then redistribute money you can’t tax.

    • You misunderstand, application of fair regulated wages applies to both the public and private sectors.

      When people set up shop, they accept the rules of the host nation.

      When people need jobs and the greedy elite pay them less than a living wage, it’s their way or the highway. It’s not consensual because of the power imbalance.

      I suggest that we eliminate corruption and then apply the same principles to the elite.

      The greedy can leave if they don’t like the law, with the shirts on their backs.

      • Now let’s add another factor into the mix. What if all these CEO’s were sole proprietors of those companies? There are probably more than a hundred guys in Canada who make more than the people on the CEO list, and are sole proprietors of their companies. Would you apply the same confiscatory power to them, as well?

        • Sure.

          I picked an arbitrary number of 1 million, 20 living wages, as a personal limit.

          That is separate from what is reinvested in the company for growth.

          Really who needs more than 20 times everything? 20 houses, 20 meals, 20 clothing etc for their life to be in order, to be happy?

          • So, you’d put a legal cap on earnings at $1 million? Would that apply even if someone built up a company while taking modest earnings, then had the opportunity to sell it for $4 million? You’d tax away all but a million?
            What about people who invent things that society finds highly valuable? What about someone who writes a bestselling novel? What about someone who works on commission, and sells very large, expensive equipment, and has a year where he sells enough to earn $3 million? Would you arbitrarily tax him back to $1 million?
            What about someone who wins a $25 million lottery? Would they have to give back $24 million?
            The problem is that your position does not withstand any kind of modestly rigorous cross examination. Mine, however, is intellectually robust and sound. The bonus is that it empowers the broader citizenry against the brute force of the state. Yours gives even more reach to the grasping hand of the state, and only ensures that the public workforce would only grow fatter off the already overburdened taxpayer.

          • Now Bill, I have refuted every attempt YOU have made to discredit my suggestion.

            One need only look at this thread for proof.

            I said a limit of 1 million for personal income not business cash flow. Not total equity. Not liquefaction of assets.

            Face it, we’re both talking about government regulations to limit income.

            You, myopically only want to limit public sector income, while I suggest that everyone’s be limited .

            If you had refuted my position, which you haven’t, you would also have refuted your own.

            Have you?

          • There are many current practices that would interfere with my suggestion that need to be addressed.

            We need to eliminate corruption.

            The “market”, basing an economy on gambling, doesn’t correspond with one based on stability afforded by regulations.

            I’m suggesting a completely new economic model.

            One that isn’t rife with corruption, gambling, recessions, dangers and crises.

            Why? Because we can and should.

  7. Rob- Here’s the glaring flaw in your premise- You posit that anyone who achieves substantial wealth is inherently corrupt, which is dead wrong. Sure, some are, but it’s not anything close to the norm. That leads to a secondary double-fault. Because socialism relies on the confiscatory power of the state, it breeds corruption. Normalizing the taking of what is not yours to take, even if to give to others, creates an atmosphere of normality around the taking of that which is not for the taking. Corruption is a natural by-product of confiscatory regimes.
    Again, my proposal of starving the government beast by keeping government wages modest, reducing taxes and regulations, and letting the citizens keep more of what they earn is more intellectually and economically sound.

    • That wasn’t my premise.

      Anyone can be corrupt, and when we eliminate corruption as I have discussed, their harm will be minimized.

      When we eliminate corruption, nothing will work as it does today. Our market based economy will be exposed as the corrupt casino it is. People won’t accept the fluctuations, corrections, recessions and depressions required to shift wealth to the elite.

      My premise is that WE decide how our economy functions. When we no longer have a corrupt economy, we will not tolerate the elite taking so much personal wealth from it.

      • But is moral purity the most important goal here, or is it getting results? We have laws already that deal with corruption, yet corruption still exists. It’s like new gun laws because some people think that people who are disobeying the old gun laws, will somehow suddenly become religious about the new ones.
        The problem with chasing your moral purity of a world without corruption is that it’s like chasing Bigfoot, or searching for the Holy Grail, when there are very simple ways of achieving what needs to be achieved.
        The worst inequality in society is that which exists between those who work in government, and those who don’t. There are huge gaps between what government workers earn and what private sector workers earn for similar jobs. Cuts to government will fix that inequality.

        • I’ll say it again, eliminating corruption is this easy.

          1. Criminalize lying.
          2. Empower everyone to digitally record everything we witness, everywhere.

          It’s no pipe dream. Our technology has enabled it. Do those two things and corruption is immediately eliminated.

          Don’t, and stop appealing for justice. It’s like praying for a wheel and then dragging it sideways.

          • If we criminalize lying, and empower the recording of everyone, everywhere, by everyone, we have East Germany all over again. And we all know how wonderfully that worked out, don’t we.

          • East Germany didn’t empower people to record what they witnessed and they didn’t criminalize lying.

            Stop wasting my time.

  8. While the rest of count or pennies, people from this list are spending time planning to steal them from us. The CEO of Valeant is especially disgusting. People spend their last savings to stay alive and the CEO makes tens of millions a year. Nationalize the Corp and provide Canadians with pharmacare.