SIGN NOW: BECOME A GRASSROOTS CO-SIGNER OF THE TAX EXCESSIVE CEO PAY ACT
Millionaires and billionaires have never had it so good. According to new data, the U.S. has added 50 new billionaires since the pandemic began. Meanwhile, millions of Americans have fallen into poverty during the pandemic.
In the past 40 years, average workers’ pay rose by about 13%, while average CEO pay grew by over 1,000%.
Today, the CEO-to-worker pay ratio sits at 320-to-1, a dramatic increase from 21-to-1 in 1965.
The Tax Excessive CEO Pay Act, introduced by Representatives Barbara Lee and Rashida Tlaib, and Senators Bernie Sanders, Elizabeth Warren, Ed Markey, and Chris Van Hollen, would tax big corporations that pay their CEOs and other top executives at least 50 times more than they pay an average worker. The wider a company’s gap between CEO and median worker pay, the higher their federal corporate tax rate.
The bill would raise an estimated $150 billion over 10 years that could be used to reduce racial, gender, and economic inequality. It would only impact U.S. corporations with average annual sales for the three preceding years of at least $100 million.
At a time when the COVID-19 pandemic has exposed and worsened income and wealth inequality, it’s critical that we pass legislation that levels the playing field between workers and corporate executives.
Add your name now to become a grassroots co-signer of the Tax Excessive CEO Pay Act, and demand a country that works for all of us, not just the wealthy few.