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Abigail Disney tells congressional businesses to change the way they practice capitalism



"We've been hunting big Americans in a box canyon and then blaming them for being caught," she told House Financial Services members for a hearing to strengthen workers' rights and protection.

"Bob Iger is a fine man, a brilliant leader, and so are most CEOs. But corporate profits have been so normalized that they and their peers can't see the problem anymore," she said Wednesday.

In a recent Washington Post opinion, she challenged the company to redirect half of the executive bonus pool to $ 2000 checks for the lowest paid 10% of its 200,000 employees workforce.

The company has pushed back, saying it pays workers over $ 7.25-a-hour federal minimum wage.

"We need to change the way we understand and practice capitalism," Disney said to members of the committee.

  Abigail Disney has a point. Paying rank-and-file workers more can increase your company's productivity

"Yes, managers have a binding commitment to their shareholders, but they also have a legal and moral responsibility to deliver returns to shareholders without compromising on dignity and rights to its employees and other stakeholders, "she added.

Disney claims that there is no inherent fault with a large payday for executives as long as workers can support themselves. She encouraged lawmakers to consider assessing the wage relationship between CEOs and their lowest paid full-time employees, rather than between C-suite employees and the median income level – as some democracies have requested.

"The median relationship is not a helpful relationship. It treats the lowest paid worker as if they were invisible," she said.

Some Republican members of the committee challenged Disney to say which salary is fair for a CEO and which rate is a profitable salary. She replied that not every CEO should be paid the same, and a viable salary is not the same in every city.

"The point I'm trying to make is that we throw around numbers here on the right CEO, what the CEO pays to be … but there are no specifications on how to do it," Indiana Rep said. Trey Hollingsworth, adding that an attempt to find out what these prices are, will result in "socialism".

The hearing also raised a democratic proposal to require public companies to disclose more information about employee salaries.

Wisconsin Republican rep. Sean Duffy asked Disney what she earns and what she pays her lowest work tank in her home. Disney said she earns between $ 5 million and $ 6 million, paying her her $ 75,000-a-year low-income worker – and donating between $ 7 million and $ 8 million annually.

Later in the day, a Disney spokeswoman said she had misunderstood the question and had other employees she paid less, even though she was paying her housekeeper $ 75,000.

  Disney heir asks the company to give 50% of the exec bonuses to the lowest paid employees

Republicans also noted that the democratic committee leaders let Disney have a private film on the hearing.

Disney said that she hopes to make a documentary about the different revenue in the revenue, and that recording from the hearing can be useful.

When asked if the movie was going to be for a profit unit, Disney said the movie might end up making money, but she wouldn't see any of it.

The heir to the Disney family's fortune has also spoken to the public about how unpleasant she is with her own wealth. In March, she told New York Magazine that she was giving away money in her 20s and stopped using her family's private jet.

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