Just 50 years ago the standard CEO made one million dollars per year, an average of 20 to 30 times the median pay of the average worker.

Now, the typical CEO of a firm in the S&P 500 makes nearly $15 million per year, or 320 times the median pay of their average worker. The exponential growth in CEO pay is outrageous.

The Tax Excessive CEO Pay Act targets companies with the biggest gaps between CEO and median worker pay. Here’s how it works: If a CEO makes more than 50 times what their workers make, the company's corporate tax rate increases by 0.5%. If the CEO makes 500 times or more, then the corporate tax rate increases by 5% for every single dollar of excessive CEO pay.

In other words: this legislation would make companies pay a price for giving away huge million dollar payouts to CEOs while paying their workers pennies.

For too long the ultra-wealthy have written the rules of the game to their advantage. They have made sure that they make more and more, while workers make less and less.