HomeUncategorized9/30 News Roundup & Open Thread – Rally with Bernie at New England Universities & More

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jcitybone

https://www.washingtonpost.com/business/2019/09/30/bernie-sanders-pushes-inequality-tax-punish-companies-where-ceos-earn-far-more-than-workers/?utm_source=reddit.com

Sen. Bernie Sanders (I-Vt.) is unveiling a plan on Monday that would dramatically increase taxes on corporations that pay their CEOs far more than their workers, adding to the growing suite of policy proposals to expand taxes in the Democratic presidential race.

Under Sanders’s plan, the government would increase a firm’s corporate tax rate if its highest-paid employee earns more than 50 times that of its average worker — an attempt to encourage companies to distribute their profits more equally.

The plan would only apply to companies with more than $100 million in annual revenue.

“You have CEOs making 500 or 1,000 times more than the median income worker — that’s a signal of a lot of what is wrong in this country,” Sanders said in a brief interview Sunday night. “We want to make clear that’s bad policy, and we will impose taxes on the most egregious examples.”

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