That’s what some cooperatives have voted on. Mondragon is an example.

So as with everything I feel like the best solution is to have a system that gives people the incentive to place these restrictions on ourselves rather than force it through laws.

We don’t appreciate opinion and perspective enough. We all seem to accept how it is as the default. But if you have a corporation where all employees hold a bit of power collectively as if the business is the sum of all parts, then it would be insane for someone like Musk or Bezos to exist with their wealth. It would be considered stealing