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Edward Zelinsky on “Albert Pujols, Occupy Wall Street, and the Buffett Rule”

Posted by admin on Jan 5th, 2012 and filed under Sports. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Professor Edward Zelinsky, a distinguished tax law expert at Cardozo Law School and author of The Origins of the Ownership Society, has a thoughtful and provocative Oxford University Press piece on Albert Pujols and his 10-year, $254 million contract. Zelinsky argues that Pujols indeed deserves what he is being paid and that he is not under-taxed. Here is an excerpt:

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Pujols is not a poorly-performing CEO whose salary has been inflated by a compliant compensation consultant and ratified by a passive board of directors the CEO himself has selected. Pujols’ salary was established in a transparent and open marketplace by purchasers seeking his services on an arms-length basis against other bidders, baseball teams trying to win more games. Pujols has earned the rewards of the marketplace in a truly competitive fashion.

Pujols joined the proverbial 1% honorably, through hard work and professional success. I suspect that many of the folks who identify with Occupy Wall Street will disagree, but Pujols should not be lumped together with overpaid, underperforming CEOs – of which there are many.

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 To read the rest, click here.  It’s a good read.

Resources: Sports Law Blog

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