Disney heir Abigail Disney testified Wednesday before the California State Senate in support of a bill that would raise the state's corporate income tax rates while incentivizing firms to curb CEO pay.
Disney -- and the group she belongs to, Patriotic Millionaires -- have been vocal advocates for reducing income inequality by raising corporate taxes, equalizing tax rates on capital gains and income, raising the federal estate tax and increasing the federal minimum wage to $15 an hour by 2024. Last year, the Disney heir publicly criticized Disney CEO Bob Iger's $66 million pay package, which was 1,424 times the median salary of Disney employees, according to a study from Equilar.
These same profitable corporations have also just reaped the benefits of a massive windfall from Trump's 2017 tax cut. In spite of such tremendous gains, the portion of tax paid by corporations to the state of California is at nearly its lowest point in 40 years," Patriotic Millionaires and California Voices for Progress noted in a letter to the chairman of the California Senate's Governance and Finance Committee.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Disney CEO Bob Iger's Annual Pay Falls to $47.5 MillionThat compared with $65.6 million in the previous year, which was boosted by a stock package that the executive was awarded as an incentive to remain with the company past his planned retirement date.
Read more »
Disney CEO Bob Iger’s Compensation Drops Dramatically In 2019Walt Disney Co. Chairman and CEO Bob Iger’s compensation fell 28% to $47.5 million in 2019 one year after shareholders signaled their unhappiness with his pay.
Read more »
Disney+, Apple TV+ Are No Netflix Killers, Says AnalystDisney+ and Apple TV+ will complement and not doom Netflix in a fast-expanding streaming TV space, MoffettNathanson analyst Michael Nathanson said Friday.
Read more »
Bob Iger’s Disney Compensation Drops to $47.5 Million in 2019Disney chief Bob Iger saw his compensation for 2019 drop to $47.5 million, a 28% decline from his 2018 pay package. Disney’s leader earned $3 million in salary and a $21.8 million bonus, plus…
Read more »
Disney drops 'Fox' name and will rebrand its movie studio as '20th Century'Disney is dropping the 'Fox' name from its '20th Century Fox' brand, renaming the longtime studio as just '20th Century Studios.' Its art house production company, Fox Searchlight, will now be known as 'Searchlight Pictures.'
Read more »