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How about setting a maximum wage for government officials and top-paid government contractors?

Here’s how it would work: If the minimum wage for employees of federal contractors rose to $10.10 an hour from $7.25, the president’s $400,000 salary would move to 20 times that of the lowest-paid worker, from roughly 27 times.

We should then enact laws to ensure that top-paid federal executives — and, critically, top-paid executives of companies that do business with the federal government — are never paid in excess of 20-to-1 (or perhaps even 27-to-1) compared with their lowest-paid workers. Perhaps we could start with companies that bid on contracts (or receive no-bid contracts) above some threshold. Here are some recent top federal contractors and what Bloomberg News estimates as the ratio of top pay to the average worker’s: Oracle, 1,287-to-1; General Electric, 491-to-1; AT&T, 339-to-1; and Lockheed Martin, 315-to-1.

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