Jobs would be cut, investment diminished.
It's the value of the work that determines the pay.
BS, if the value of the job determined the pay, CEOs wouldn't be making several hundred times what their employees make and a man with a helmet defending a football wouldn't be making $millions while a man with a helmet defending our country barely makes a living.
Take a good CEO out of a company and the company fails. I saw it happen first hand at Circuit City, which went from a $10 billion company to nothing in a short period of time. As for entertainment figures making a lot of money, that's a function of the market too. When millions of people want to watch you or listen to you do something, you can make a lot of money charging them for the privilege. If millions of people wanted to watch soldiers living and fighting in a desert, soldiers would make a lot of money too.