Portland To Tax Companies That Have Outrageous CEO-Worker Pay Gaps

[toomuchtime_]

Portland could generate up to $3.5 million in annual revenue from this new tax.

The progressive city is ramping up its fight against income inequality while increasing annual revenue by as much as $3.5 million.

In an effort to combat income inequality, Portland, Oregon, on Thursday became the first jurisdiction to adopt a tax penalty on companies with excessive CEO-worker pay gaps.

Under the new law, companies doing enough business in Portland to pay the city’s business fee will be taxed an additional 10 percent if their CEO makes 100 times what median workers earn ― and an additional 25 percent if they make 250 times more.

“This is meant to be a signal that these kinds of ridiculous [pay] ratios are unacceptable,” Portland’s city commissioner Steve Novick told The Huffington Post. “You do not do better as a company because you decide to pay outrages salaries to your CEOs.”

The law will go into effect next year, and Novick said the tax could generate up to $3.5 million in annual revenue for the city.

Sarah Anderson, co-editor of Inequality.org at the Institute of Policy Studies, believes the legislation could “spread like wildfire” to other cities across the nation.

“People are now even more skeptical that anything will happen at the federal level to reduce inequality,” Anderson told HuffPost on Thursday.

She said the threat of “draconian cuts to the social safety net” during a Donald Trump presidency could push leadership from other cities to explore similar innovative sources of revenue.

Corporations can exist without paying their CEOs hundreds of times what they pay their typical workers.
--Steve Novick, City Commissioner of Portland​

More than 500 companies will be affected by the new rule, including Walmart, Honeywell, Goldman Sachs, Wells Fargo and General Electric, according to a statement from IPS.

More: Portland To Tax Companies That Have Outrageous CEO-Worker Pay Gaps

Thank you, Portland. Hopefully many more areas will follow your lead.

So do I want to move my business to Portland? lol

 

[Flash]

Liberal logic always blows my mind on theft of money In the way of taxes.


"Well this CEO is making 100 times more then his janitor.."


"I know what we will do we tax him and keep part of that money for ourself so we can have a meeting in the bahamas.. Yea thats what we will do.."

God who are they trying to bullshit.


.

Only these uneducated Libtards think it is greedy for somebody to earn money but don't think it is greedy for the filthy ass oppressive government to take the money and give to the welfare queens.

 

[Flash]

[


Don't get me wrong, I don't think income inequality is good. .

These stupid Moon Bats must think income inequality is a good thing because that asshole Obama that they voted for increased it during his administration.

 

[Lakhota]

Liberal logic always blows my mind on theft of money In the way of taxes.


"Well this CEO is making 100 times more then his janitor.."


"I know what we will do we tax him and keep part of that money for ourself so we can have a meeting in the bahamas.. Yea thats what we will do.."

God who are they trying to bullshit.


.

Only these uneducated Libtards think it is greedy for somebody to earn money but don't think it is greedy for the filthy ass oppressive government to take the money and give to the welfare queens.

Have you ever heard of "corporate welfare"?

• Corporate welfare - Wikipedia
  Corporate welfare - Wikipedia - 95k - 16 hours ago - similar pages
  Corporate welfare is a term that analogizes corporate subsidies to welfare payments for the poor. The term is often used to describe a government's bestowal of ...
• 10 corporate welfare programs that will make your blood boil
  http://usuncut.com / class-war / 10-corporate-welfare-pro / - 184k - similar pages
  Oct 28, 2015 ... We spend 10 times more on corporate welfare than on programs for people who actually need the help.
• Where Is The Outrage Over Corporate Welfare? - Forbes
  http://www.forbes.com / sites / taxanalysts / 2014 / 03 / 14 / where-is-the-outrage-ove / - 132k - similar pages
  Mar 14, 2014 ... The sheer size of the corporate welfare system should spark outrage whether we are conservatives, liberals, or libertarians.
• The 8 Biggest Corporate Welfare Recipients in America
  http://www.cheatsheet.com / business / high-on-the-hog-the-top- / ?a=viewall - 122k -similar pages
  May 7, 2015 ... According to The Cato Institute, corporate welfare handouts shot all the way up to $92 billion as of 2002. Most of those subsidies were secured ...
• Eliminate Corporate Welfare | Taxpayers for Common Sense
  Eliminate Corporate Welfare | Taxpayers for Common Sense - 78k - similar pages
  Corporate welfare can be defined as federal subsidies to profitable, well- established industries that do not need them. These subsidies can take different forms, ...
• Corporate Welfare Programs
  Corporate Welfare Programs - 25k - similar pages
  Corporate welfare is a general term that refers to financial assistance, tax advantages, or other support given to corporations and other business entities by the ...
• Ten Examples of Welfare for the Rich and Corporations | The ...
  http://www.huffingtonpost.com / bill-quigley / ten-examples-of-welfare-... - 595k - similar pages
  Jan 14, 2014 ... Here are the top 10 examples of corporate welfare and welfare for the rich. There are actually thousands of tax breaks and subsidies for the rich ...
  • Corporate Welfare - Huffington Post
    Corporate Welfare - 182k - similar pages
    I'm not one to invoke Higher Powers, but for those of us watchdogging corporate welfare, the early departures of candidates Rick Perry and Scott Walker are ...
• Government Spends More on Corporate Welfare Subsidies than ...
  http://thinkbynumbers.org / government-spending / corporate-welfare / corporate-vs-social-welfare / - 121k - similar pages
  $92 billion is spent on corporate subsidies. So, the government spent 50% more on corporate welfare than it did on food stamps and housing assistance in 2006 ...

 

[martybegan]

That's what the Constitution calls a bill of attainder and they are constitutionally forbidden.

It's targeting a class of companies/people, not a specific person, so it may pass muster.

Still worth a lawsuit though.

It tries to penalize people, remember corporations are a group of people, that do perfectly legal things, that just happens to piss off the powers that be, in just that one locality. If it applied to all corporations operating in the State it might be a different story, it doesn't. I also doubt it would even fly on a State level.

It would be an interesting case, but we have seen taxes/laws tailored to specific industries (fast food) using language that avoids being bills of attainder.

Is it punitive and useless? Yes. Will it chase companies out of Portland? probably.

This bill targets specific companies not industries, I don't think it will fly even under the equal protection clause of the 14th, but it also meets every requirement of being a bill of attainder. I'll talk to an attorney friend at my congressman's office Tuesday and see what she says.

If the amount of companies that pay their CEO 100-250 times the median pay is small, say 2-3, I think you have your bill of attainder right there. If its 100-200, that becomes a weaker argument.

The 14th amendment angle is interesting, but I don't see how it works. Its a single condition, that has no other conditions, thus all companies under the condition are treated equally (bad).

I am interested in the lawyers opinion, as I tend to look at the Constitution from and Engineer's perspective than a lawyers.

 

[blastoff]

Say good bye to a big chunk of their tax base. And jobs.

Shouldn't cut off your nose to sp...oh, nevermind.

 

[ClosedCaption]

Portland....closed for business...

They can fuck off....

I dont know what benefit it is to you to defend people you dont know who only trait is they have money with such verosity

 

[Flash]

Liberal logic always blows my mind on theft of money In the way of taxes.


"Well this CEO is making 100 times more then his janitor.."


"I know what we will do we tax him and keep part of that money for ourself so we can have a meeting in the bahamas.. Yea thats what we will do.."

God who are they trying to bullshit.


.

Only these uneducated Libtards think it is greedy for somebody to earn money but don't think it is greedy for the filthy ass oppressive government to take the money and give to the welfare queens.

Have you ever heard of "corporate welfare"?

• Corporate welfare - Wikipedia
  Corporate welfare - Wikipedia - 95k - 16 hours ago - similar pages
  Corporate welfare is a term that analogizes corporate subsidies to welfare payments for the poor. The term is often used to describe a government's bestowal of ...
• 10 corporate welfare programs that will make your blood boil
  http://usuncut.com / class-war / 10-corporate-welfare-pro / - 184k - similar pages
  Oct 28, 2015 ... We spend 10 times more on corporate welfare than on programs for people who actually need the help.
• Where Is The Outrage Over Corporate Welfare? - Forbes
  http://www.forbes.com / sites / taxanalysts / 2014 / 03 / 14 / where-is-the-outrage-ove / - 132k - similar pages
  Mar 14, 2014 ... The sheer size of the corporate welfare system should spark outrage whether we are conservatives, liberals, or libertarians.
• The 8 Biggest Corporate Welfare Recipients in America
  http://www.cheatsheet.com / business / high-on-the-hog-the-top- / ?a=viewall - 122k -similar pages
  May 7, 2015 ... According to The Cato Institute, corporate welfare handouts shot all the way up to $92 billion as of 2002. Most of those subsidies were secured ...
• Eliminate Corporate Welfare | Taxpayers for Common Sense
  Eliminate Corporate Welfare | Taxpayers for Common Sense - 78k - similar pages
  Corporate welfare can be defined as federal subsidies to profitable, well- established industries that do not need them. These subsidies can take different forms, ...
• Corporate Welfare Programs
  Corporate Welfare Programs - 25k - similar pages
  Corporate welfare is a general term that refers to financial assistance, tax advantages, or other support given to corporations and other business entities by the ...
• Ten Examples of Welfare for the Rich and Corporations | The ...
  http://www.huffingtonpost.com / bill-quigley / ten-examples-of-welfare-... - 595k - similar pages
  Jan 14, 2014 ... Here are the top 10 examples of corporate welfare and welfare for the rich. There are actually thousands of tax breaks and subsidies for the rich ...
  • Corporate Welfare - Huffington Post
    Corporate Welfare - 182k - similar pages
    I'm not one to invoke Higher Powers, but for those of us watchdogging corporate welfare, the early departures of candidates Rick Perry and Scott Walker are ...
• Government Spends More on Corporate Welfare Subsidies than ...
  http://thinkbynumbers.org / government-spending / corporate-welfare / corporate-vs-social-welfare / - 121k - similar pages
  $92 billion is spent on corporate subsidies. So, the government spent 50% more on corporate welfare than it did on food stamps and housing assistance in 2006 ...

Your Moon Bat envy and greed is wasted on me Moon Bat.

I don't believe any government money should go to any corporation including the ones that your Boy Obama gave to like GM, Chrysler, Goldman Sachs and Solyundra.

No welfare, no bailouts, no entitlements and no subsidies.

If you don't like corporations getting government money then why did you vote for Obama? Are you stupid or simply a hypocrite? Your Crooked Hillary bitch was owned by Wall Street so don't give me this shit that you really care about things like that.

If you don't like the money a CEO makes then don't buy anything made by the corporation. If you don't like the government giving your money away to other people, including corporations then join me in advocating the elimination of all welfare, bailouts, entitlements and subsidies. .

 

[Wyatt earp]

Portland....closed for business...

They can fuck off....

I dont know what benefit it is to you to defend people you dont know who only trait is they have money with such verosity

We are American patriots you mother fucker commie bastard.

We are capitalist not socialist marxist like you and the OP..


Comprehend?


.

 

[ClosedCaption]

Portland....closed for business...

They can fuck off....

I dont know what benefit it is to you to defend people you dont know who only trait is they have money with such verosity

We are American patriots you mother fucker commie bastard.

We are capitalist not socialist marxist like you and the OP..
Comprehend?
.

Some would just say youre sucking dick but if you want to put a postitive spin on it be my guest. "I'm not a hoe I'm sexually liberated" face havin ass

 

[Ray From Cleveland]

So I'll ask this question again
If CEO pay was slashed what makes you think employees would get paid more?

And what makes you think the fucking government will give that money to employees?

And what makes you think these companies just won't move to a friendlier state and take the jobs with them?

This is more idiotic policy from the wack job left

This is the liberal philosophy and has been for some time now.

If you don't have enough in life, it's not your fault. The reason you don't have enough is because somebody else has too much.

Liberals think our country is this bubble. In our bubble, there is only so much money. To make it fair, we have to divide this money among the people in our bubble regardless who's it is.

Money doesn't belong to individuals. Our country (in the liberal view) is supposed to be like one giant commune. Some people chip in, others stay in the commune and watch television all day and have babies. You can only keep some of what you earned. The rest goes to the others in the commune.

 

[ClosedCaption]

So I'll ask this question again
If CEO pay was slashed what makes you think employees would get paid more?

And what makes you think the fucking government will give that money to employees?

And what makes you think these companies just won't move to a friendlier state and take the jobs with them?

This is more idiotic policy from the wack job left

This is the liberal philosophy and has been for some time now.

.

Wages have gone down and CEO pay has increased 10 fold. Since money isnt infinite it has to come from somewhere.

 

[Ray From Cleveland]

So I'll ask this question again
If CEO pay was slashed what makes you think employees would get paid more?

And what makes you think the fucking government will give that money to employees?

And what makes you think these companies just won't move to a friendlier state and take the jobs with them?

This is more idiotic policy from the wack job left

This is the liberal philosophy and has been for some time now.

.

Wages have gone down and CEO pay has increased 10 fold. Since money isnt infinite it has to come from somewhere.

Of course money in infinite in our country. If it were not, that would mean if I went to my employer for a raise, he would tell me he'd love to give me one, but can't because the rich people have all the money. Or if I go for a bank loan. they would tell me they'd love to give me a loan, but they can't because rich people have all the money.

That's never happened in our lives and you know it. A person leaves college, climbs up the ladder, finally makes it to CEO status, and the first thing the left does is complain. Yet you people never complain about what actors and actresses get paid. You never complain about what a sports professional gets paid. You never complain about what musicians get paid. Just CEO's.

But you'll go to that ball game and pay $8.00 for a cup of pop or beer. You'll go to the movie theater and pay $15.00 for a seat to watch a movie. You'll go to a concert and pay $45.00 to hear your favorite band.

 

[Weatherman2020]

News headline, August 1, 2017: Stores closing in Portland and no one knows why.

 

[ClosedCaption]

Look all that aside workers wages have gone down while CEO pay has gone through the roof. You can say one has nothing to do with the other all you like but other than an assertion thats all you got

 

[yiostheoy]

Portland could generate up to $3.5 million in annual revenue from this new tax.

The progressive city is ramping up its fight against income inequality while increasing annual revenue by as much as $3.5 million.

In an effort to combat income inequality, Portland, Oregon, on Thursday became the first jurisdiction to adopt a tax penalty on companies with excessive CEO-worker pay gaps.

Under the new law, companies doing enough business in Portland to pay the city’s business fee will be taxed an additional 10 percent if their CEO makes 100 times what median workers earn ― and an additional 25 percent if they make 250 times more.

“This is meant to be a signal that these kinds of ridiculous [pay] ratios are unacceptable,” Portland’s city commissioner Steve Novick told The Huffington Post. “You do not do better as a company because you decide to pay outrages salaries to your CEOs.”

The law will go into effect next year, and Novick said the tax could generate up to $3.5 million in annual revenue for the city.

Sarah Anderson, co-editor of Inequality.org at the Institute of Policy Studies, believes the legislation could “spread like wildfire” to other cities across the nation.

“People are now even more skeptical that anything will happen at the federal level to reduce inequality,” Anderson told HuffPost on Thursday.

She said the threat of “draconian cuts to the social safety net” during a Donald Trump presidency could push leadership from other cities to explore similar innovative sources of revenue.

Corporations can exist without paying their CEOs hundreds of times what they pay their typical workers.
--Steve Novick, City Commissioner of Portland​

More than 500 companies will be affected by the new rule, including Walmart, Honeywell, Goldman Sachs, Wells Fargo and General Electric, according to a statement from IPS.

More: Portland To Tax Companies That Have Outrageous CEO-Worker Pay Gaps

Thank you, Portland. Hopefully many more areas will follow your lead.

LIke San Francisco to the south, this excessive extreme taxation will only drive businesses out of Oregon in the long term.

Companies are packing up and moving to states with lower corporate taxes.

Reno NV is a popular destination.

 

[Wyatt earp]

So I'll ask this question again
If CEO pay was slashed what makes you think employees would get paid more?

And what makes you think the fucking government will give that money to employees?

And what makes you think these companies just won't move to a friendlier state and take the jobs with them?

This is more idiotic policy from the wack job left

This is the liberal philosophy and has been for some time now.

.

Wages have gone down and CEO pay has increased 10 fold. Since money isnt infinite it has to come from somewhere.

Prove wages have gone down at exsisting companys

Prove it...


If you are going to tell me they dropped wages and the employees still work there.


Then that only tells me one of two things we have the most stupidest employees on the planet.



Or youre lying.




.

 

[Desperado]

Might soon a lot of companies moving out of that city and even the state. Might consider Florida where there is no state income tax

 

[Ray From Cleveland]

Look all that aside workers wages have gone down while CEO pay has gone through the roof. You can say one has nothing to do with the other all you like but other than an assertion thats all you got

Sorry, but people get paid what they are worth.

You are only worth as much as the next person willing to do the same quality work as you do. That goes for the toilet scrubber, that goes for the CEO's.

 

[The Sage of Main Street]

Corporations can exist without paying their CEOs hundreds of times what they pay their typical workers.
--Steve Novick, City Commissioner of Portland


Unbelievable trying to tell someone how much he can make


This is going to totally backfire.


Lol


.

Walking Tall by Walking All Over People

The corporate Greedhead parasites tell people what they can make all the time. Man against Millionaire is not a bargaining position that their employees should have to put up with.