To: The United States House of Representatives and The United States Senate
Tax excessive CEO pay
Companies that pay their CEO more than 50 times their median worker should be taxed for that imbalance.
Pass the Tax Excessive CEO Pay Act, and incentivize sharing the wealth with workers.
Pass the Tax Excessive CEO Pay Act, and incentivize sharing the wealth with workers.
Why is this important?
At some companies, it would take the median worker 1,000 years to earn what the CEO makes in just 1 year. Out-of-control CEO pay while workers fight to survive shouldn’t be the norm.
Worker wages have largely stagnated since the 1970s, while the top 1 percent have more than doubled their share of the nation’s income. Corporate and banking executives make up about 2/3 of America’s top 1% households.
The Tax Excessive CEO Pay Act, introduced by Representatives Rashida Tlaib and Barbara Lee, and Senator Bernie Sanders, would raise the corporate tax rate for any companies that pay their executive 50 times more than their typical workers. The bill begins with a 0.5 percent tax. The worst offending companies that pay their CEO more than 500 times their median worker would be taxed 5 percent.
Last year, the median Walmart employee made just under $22,000. Meanwhile, CEO Doug McMillon made $23.6 million. Starbucks CEO Kevin Johnson brought home $13.38 million-- 1,049 times the median worker at the company.
It’s time companies shared the wealth with workers, not just CEOs. The Tax Excessive CEO Pay Act will incentivize living wages. Sign the petition to Congress: it’s time to Tax CEO Pay.
Worker wages have largely stagnated since the 1970s, while the top 1 percent have more than doubled their share of the nation’s income. Corporate and banking executives make up about 2/3 of America’s top 1% households.
The Tax Excessive CEO Pay Act, introduced by Representatives Rashida Tlaib and Barbara Lee, and Senator Bernie Sanders, would raise the corporate tax rate for any companies that pay their executive 50 times more than their typical workers. The bill begins with a 0.5 percent tax. The worst offending companies that pay their CEO more than 500 times their median worker would be taxed 5 percent.
Last year, the median Walmart employee made just under $22,000. Meanwhile, CEO Doug McMillon made $23.6 million. Starbucks CEO Kevin Johnson brought home $13.38 million-- 1,049 times the median worker at the company.
It’s time companies shared the wealth with workers, not just CEOs. The Tax Excessive CEO Pay Act will incentivize living wages. Sign the petition to Congress: it’s time to Tax CEO Pay.