CEO/Employee — Pay Ratio Tax

[indago]

Sarah Anderson wrote for US News 21 October 2016:
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...on the problem of runaway CEO pay, American politicians are known for speaking loudly but carrying a small stick. ...These efforts are most advanced in Portland, Oregon, where the city council is holding a hearing on October 26 to consider what would be the nation’s first-ever surtax on corporations with wide gaps between their CEO and worker pay.

Firms that do business in Portland would owe a 10 percent surtax on the city’s existing business tax if they pay their CEOs more than 100 times what their workers receive. For example, if a large company owes the city $100,000 and has a pay ratio of 175-to-1, their surtax would be $10,000.

...Portland is not the first to consider a tax penalty for fat executive paychecks. In 2014, a majority of the California state senate voted in favor of a similar proposal, but two-thirds was needed to pass a revenue bill. One of that bill’s chief backers, Mark DeSaulnier, is now a member of the U.S. Congress and has just co-sponsored a bill that would tie federal corporate tax rates to the CEO-worker pay ratio.
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[Moonglow]

How is that going to help anyone but the tax revenue office?

 

[Wyatt earp]

Sarah Anderson wrote for US News 21 October 2016:
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...on the problem of runaway CEO pay, American politicians are known for speaking loudly but carrying a small stick. ...These efforts are most advanced in Portland, Oregon, where the city council is holding a hearing on October 26 to consider what would be the nation’s first-ever surtax on corporations with wide gaps between their CEO and worker pay.

Firms that do business in Portland would owe a 10 percent surtax on the city’s existing business tax if they pay their CEOs more than 100 times what their workers receive. For example, if a large company owes the city $100,000 and has a pay ratio of 175-to-1, their surtax would be $10,000.

...Portland is not the first to consider a tax penalty for fat executive paychecks. In 2014, a majority of the California state senate voted in favor of a similar proposal, but two-thirds was needed to pass a revenue bill. One of that bill’s chief backers, Mark DeSaulnier, is now a member of the U.S. Congress and has just co-sponsored a bill that would tie federal corporate tax rates to the CEO-worker pay ratio.
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Sounds like extortion and I have a feeling some council members that will remain nameless will be taking a trip to tahati for a "conference " soon.



.

 

[Wyatt earp]

 

[whitehall]

"Fascism": government control over the production and distribution of goods and services. Keep in mind that Portland Or. is the left coast home base of the OWS movement.

 

[Shrimpbox]

Having just been to Portland I can say with certitude that the city is circling the toilet bowl and actions like this will just hasten the flushing.

 

[BuckToothMoron]

Sarah Anderson wrote for US News 21 October 2016:
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...on the problem of runaway CEO pay, American politicians are known for speaking loudly but carrying a small stick. ...These efforts are most advanced in Portland, Oregon, where the city council is holding a hearing on October 26 to consider what would be the nation’s first-ever surtax on corporations with wide gaps between their CEO and worker pay.

Firms that do business in Portland would owe a 10 percent surtax on the city’s existing business tax if they pay their CEOs more than 100 times what their workers receive. For example, if a large company owes the city $100,000 and has a pay ratio of 175-to-1, their surtax would be $10,000.

...Portland is not the first to consider a tax penalty for fat executive paychecks. In 2014, a majority of the California state senate voted in favor of a similar proposal, but two-thirds was needed to pass a revenue bill. One of that bill’s chief backers, Mark DeSaulnier, is now a member of the U.S. Congress and has just co-sponsored a bill that would tie federal corporate tax rates to the CEO-worker pay ratio.
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Would that apply to religious leaders?
8 Black Pastors Whose Net Worth is 200 Times Greater Than Folks in Their Local Communities - Atlanta Black Star

These ministers might not like that approach-
Bishop David Oyedepo
Creflo Dollar
Eddie Long
Christian Oyakhilome
Bishop T.D. Jakes
Temitope B. Joshua
Charles Blake
Matthew Ashimolowo

Al Sharpton and Jesse Jackson have made millions as "preachers" too.

 

[Missouri_Mike]

Come on Portland you can get unemployment to 50%. I'm cheering for you so keep up the good work.

 

[flacaltenn]

Sarah Anderson wrote for US News 21 October 2016:
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...on the problem of runaway CEO pay, American politicians are known for speaking loudly but carrying a small stick. ...These efforts are most advanced in Portland, Oregon, where the city council is holding a hearing on October 26 to consider what would be the nation’s first-ever surtax on corporations with wide gaps between their CEO and worker pay.

Firms that do business in Portland would owe a 10 percent surtax on the city’s existing business tax if they pay their CEOs more than 100 times what their workers receive. For example, if a large company owes the city $100,000 and has a pay ratio of 175-to-1, their surtax would be $10,000.

...Portland is not the first to consider a tax penalty for fat executive paychecks. In 2014, a majority of the California state senate voted in favor of a similar proposal, but two-thirds was needed to pass a revenue bill. One of that bill’s chief backers, Mark DeSaulnier, is now a member of the U.S. Congress and has just co-sponsored a bill that would tie federal corporate tax rates to the CEO-worker pay ratio.
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Sure.. Ideas promulgated by folks that have NO IDEA how things work. You cap a CEO ratio and PORTLAND will not have ANY large companies located there.

Actually, even medium size corporation CEOs run at least 2 or 5 companies. Offices/factories all over the world. Have over 10,000 employees. And CEO "pay" is largely EQUITY IN THE COMPANY. Not paycheck.

As PJ O'Rourke said in "Eat the Rich" -- you could hogtie the CEO of a major tire company, drag them to the parking lot, tar and feather them and ride them out of town. And when you split the CEO salary amongst the workers equally, they could all maybe afford 2 tires at a company discount.

But NEXT YEAR -- when the lower paid jerk fucks up --- and the company falters --- the parking lot in Portland will be a lot emptier..