I believe that the deductibility of business expenses should be limited similar to business expense allowances in government.  Generally, I believe a company should be able to pay its top employees as much as it feels they are worth but that the maximum deduction for an individual employee's compensation should be limited to the salary of the President of the US, currently $400,000.  It's tough for me to justify that there is any job in the private sector that is tougher or more challenging or with more influence or impact than the POTUS, so if businesses wish to pay their executives more than this, it should be clear to all its stockholders that the excess is coming at the expense of profit, dividends, capital reinvestment or additional owner's equity.  Similarly, I believe that business expenses should be limited.  Deductibility of travel, meal and incidental expenses should be similar to those allowed in US Govt travel regulations.  Similarly, airfare or private plane expenses should be limited to rates published by GSA citi-pair fares.  Deductible entertainment expenses should also be significantly limited, perhaps to something along the lines of no more than $200 dollars per person per event.  Memberships in golf clubs, season tickets to college or professional sporting events and such should not be allowed.  Again, should a business decide to still pay more than such maximum allowances, it should be clearly demonstrated through accounting requirements that such excess amounts are at the expense of profit, dividends, capital reinvestment or additional owner's equity.  On a related issue, and I say related because it arises from corporate disregard for belt tightening, no executive of any company in bankruptcy should be entitled to any bonus or retention pay other than his or her prior year's compensation less a percentage equivalent to the company's projected twelve month savings from any layoffs or terminations arising in the twelve months prior to or following the date entered into bankruptcy proceedings.