The Logical Leftist
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Bernie Proposes Tax Excessive CEO Pay Act
Posted
March 19, 2021
Views
4,815
Likes
473
Comments
62
Engagement
11.11%
March 19, 2021
4,815
473
62
11.11%
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#Bernie #Progressive #Liberal
Sen. Bernie Sanders of Vermont on Wednesday unveiled legislation that would hike taxes on large corporations that pay their CEOs over 50 times more than the median worker, an effort to combat the decades-long trend of skyrocketing inequality in the United States.
Under the Tax Excessive CEO Pay Act (pdf), the "corporate tax rate would increase by 0.5% for those companies reporting a [CEO-to-median-worker pay] ratio of 50 to 1, and grow to a rate of 5% for those companies reporting a ratio of 500 to 1 or higher," according to a summary of the proposal released by Sanders' office.
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