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A serious question: What's the difference between an "unpaid internship" and a CEO of a successful company (e.g. Steve Jobs) who gets paid $1/year? Is there not
by iseff 17y ago
A serious question: What's the difference between an "unpaid internship" and a CEO of a successful company (e.g. Steve Jobs) who gets paid $1/year? Is there not a way to get around this law by simply putting the intern on a $1/summer salary?
- codexon 17y agoThe difference is that a CEO like Steve Jobs gets millions or billions worth of stock options which is equivalent to a salary except instead of getting taxed at the +35% bracket, it get's taxed at 15% capital gains tax (lowered from 20% by Bush).