indago
VIP Member
- Oct 27, 2007
- 1,114
- 109
- 85
Sarah Anderson wrote for US News 21 October 2016:
--------------------------------------------------------------------------
...on the problem of runaway CEO pay, American politicians are known for speaking loudly but carrying a small stick. ...These efforts are most advanced in Portland, Oregon, where the city council is holding a hearing on October 26 to consider what would be the nation’s first-ever surtax on corporations with wide gaps between their CEO and worker pay.
Firms that do business in Portland would owe a 10 percent surtax on the city’s existing business tax if they pay their CEOs more than 100 times what their workers receive. For example, if a large company owes the city $100,000 and has a pay ratio of 175-to-1, their surtax would be $10,000.
...Portland is not the first to consider a tax penalty for fat executive paychecks. In 2014, a majority of the California state senate voted in favor of a similar proposal, but two-thirds was needed to pass a revenue bill. One of that bill’s chief backers, Mark DeSaulnier, is now a member of the U.S. Congress and has just co-sponsored a bill that would tie federal corporate tax rates to the CEO-worker pay ratio.
--------------------------------------------------------------------------
article
--------------------------------------------------------------------------
...on the problem of runaway CEO pay, American politicians are known for speaking loudly but carrying a small stick. ...These efforts are most advanced in Portland, Oregon, where the city council is holding a hearing on October 26 to consider what would be the nation’s first-ever surtax on corporations with wide gaps between their CEO and worker pay.
Firms that do business in Portland would owe a 10 percent surtax on the city’s existing business tax if they pay their CEOs more than 100 times what their workers receive. For example, if a large company owes the city $100,000 and has a pay ratio of 175-to-1, their surtax would be $10,000.
...Portland is not the first to consider a tax penalty for fat executive paychecks. In 2014, a majority of the California state senate voted in favor of a similar proposal, but two-thirds was needed to pass a revenue bill. One of that bill’s chief backers, Mark DeSaulnier, is now a member of the U.S. Congress and has just co-sponsored a bill that would tie federal corporate tax rates to the CEO-worker pay ratio.
--------------------------------------------------------------------------
article