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

[Mac1958]

Go Portland.

Go USSR! Gee, I can't figure out why much of the country is turning to the GOP to run things. I mean, who could be against government taxing businesses into submission? Isn't that what governments are for????

Hey, remember:

Businesses are evil and rich and greedy and they didn't build that.

So tough shit fer them. That's what they get for going into business.
.

 

[Flash]

"Portland is where young people go for retirement"

 

[DigitalDrifter]

It's really none of the governments business what a company pays it's top people.
I live here in Oregon, and try to avoid Portland whenever possible. It's truly a lost cause.

 

[Flash]

It's really none of the governments business what a company pays it's top people.
I live here in Oregon, and try to avoid Portland whenever possible. It's truly a lost cause.

While working in East Washington State for seven years (Hanford) of course Seattle and Portland were the two "nearby" big cities. Occasionally we have to go to the big cities but I tried to avoid them whenever possible.

Too bad such a beautiful part of the country is populated by so many stupid Moon Bats.

 

[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.

 

[Sun Devil 92]

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.

Well, some won't.

That will be because those companies that leave Portland will be looking for a better business climate.

Don't get me wrong, I don't think income inequality is good. I just think Portland is stupid. Oregon City is a nice place to live.

 

[Sun Devil 92]

BTW: This is an example of something I like in the sense that it is a local community doing something it feels is right (albeit stupid). It's their business (or lack of it as the case may be).

The thing conservatives need to consider is how to turn this on the left.

I am also pissed by these big pay differences. That is because there is not enough competition.

My only concern is that the left will take something like this and attempt to make it national.

The stupid math here is that the extra tax would only be reflected in the cost to consumers (which is already high).

 

[Iceweasel]

My only concern is that the left will take something like this and attempt to make it national.

Not much chance of that now for the foreseeable future since the Supremes picks will allow private ownership to continue.

 

[boedicca]

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.

How does that help anything?

Jesus christ they are more greedy then the CEOs..

Do you understand that?



.

Is the math over your head?

Here's a math quiz.

1. How much is 10% times ZERO?

2. How much is 25% times ZERO?

Because that's what Portland will collect when the companies move away.

And, the hypocrisy of Portland claiming they will get $3.M of tax receipts obviously eludes you. If the intent is to punish companies so that they will either increase media pay or reduce CEO pay, the city shouldn't count on any tax money. Instead, this is just yet more organized crime protection racket government.

 

[Rustic]

Any business that opens up just to hire people, I'll show you a failed business...

 

[Sun Devil 92]

My only concern is that the left will take something like this and attempt to make it national.

Not much chance of that now for the foreseeable future since the Supremes picks will allow private ownership to continue.

Oh, may your words be true.

It is unfortunate that Robert Bork is still not around.

 

[JoeNormal]

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.

This will be an interesting experiment. I'll bet it has no effect on the willingness of companies to stay in Portland. It'll be fun to compare and contrast this with Sam Brownback's catastrophic tax (and corresponding infrastructure) cuts that have decimated Kansas.

 

[Soggy in NOLA]

What morons...

 

[OKTexas]

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.

 

[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.

 

[buckeye45_73]

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.

This will be an interesting experiment. I'll bet it has no effect on the willingness of companies to stay in Portland. It'll be fun to compare and contrast this with Sam Brownback's catastrophic tax (and corresponding infrastructure) cuts that have decimated Kansas.

In Another thread you asked us to guess your party...im thinking communist.

 

[OKTexas]

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.

 

[Flash]

Texas is going to end up with every major business in the country.

Know what is funny? Texas is responsible for half of the jobs that Obama takes credit for creating.

 

[Flash]

Portland and Seattle are duking it out for the Land of Oz title. The competition is fierce as they try to outdo each other. No amount of failure or bad consequences will stand in their way, they'll just interpret it as not enough.

Just think of all the Libtard idiots living in LA, San Francisco, Seattle and Portland. The west coast is the batshit crazy Moon Bat capital of the US.

 

[sealybobo]

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.

Those companies will leave Portland.