The Democratic presidential hopeful announced a new tax plan aimed at bridging the pay gap between the high-paid top executives and their employees.
that aims to penalize companies where the top executive is paid more than 50 times what the median worker makes.
The median CEO pay at these top 50 firms was $15.9 million in 2018, according to the study. For the typcial worker at the same firms, average 2018 pay was $10,027. Roughly 88% had temporary or part-time status in 2018, the study found. Further, 31% of them worked in China, Mexico, or another low-wage country.
The problem is prevalent even outside the top 50 firms with the widest pay gaps, according to the study. More than 80% of firms in the S&P 500 paid their CEO more than 100 times the median worker pay in 2018, IPS found. Only five firms in that group had ratios of less than 25-to-1. But even that's a flawed measure of CEO wealth, according to the study. The majority of CEO real earnings come from holding company stock. Those can be as high as $87 billion for
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.
Tesla violated labor laws with Elon Musk tweet, judge rulesTesla violated labor laws by threatening employees when they attempted to unionize, a California labor judge ruled. The company must now hold a meeting to advise workers of their rights, and CEO Elon Musk is required to attend
Read more »
Bernie Sanders unveils 'inequality tax' targeting companies where CEOs make far more than workers'The American people are sick and tired of corporate CEOs who now make 300 times more than their average employees,' Sanders said in a statement.
Read more »
Bernie Sanders releases tax plan to target income inequalityVermont Sen. Bernie Sanders released a new plan on Monday to tax companies with large pay gaps between their executives and workers.
Read more »
Bernie Sanders calls for higher taxes on companies with wide pay gapsU.S. presidential candidate Bernie Sanders on Monday laid out a plan to hike tax...
Read more »