Businesses can only declare as a business expense remuneration to an employee that does not exceed 100 times minimum wage. Any remuneration in excess of this whether by salary, stock options or other methods will not be allowed as a business expense, and will therefore, come out of corporate profits.
Why is this important?
There is a lopsided salary scale with corporations and businesses offering outrageous salaries. THey are able to do this in part because the remuneration is an allowable business expense. This petition caps the business expense. It has a secondary benefit of placing more pressure on keeping minimum wage in line with increases in cost of living.
