Sen. Bernie Sanders (I-VT) rolled out another aggressive tax proposal on Monday as he aims to address “income inequality” by taxing companies that demonstrate “large gaps between their CEO and median worker pay.”
Sanders is proposing to close the “income inequality” gap by punishing companies that have CEOs making 50 times more than the average employee via additional progressive corporate taxes.
“Americans are sick and tired of corporate CEOs making hundreds of times what their workers make,” Sanders tweeted.
“We say to corporate America: If you don’t end your greed and corruption, we will end it for you,” he added:
“Under the new Sanders plan, companies with large gaps between their CEO and median worker pay would see progressively higher corporate tax rates with the most unequal companies paying five percentage points more in corporate taxes,” Sanders’ plan states.
The plan does not just apply to CEOs. Rather, the ratio is based on whoever is the highest-paid employee at the company, and it penalizes them accordingly.
“You have CEOs making 500 or 1,000 times more than the median income worker — that’s a signal of a lot of what is wrong in this country,” Sanders told the Washington Post.