Sen. Bernie Sanders, Rep. Barbara Lee, and other progressives in the U.S. Congress have introduced legislation to raise taxes on corporations that pay their top executives over 50 times more than their median workers—a change that would require Walmart, Google, and other major companies to pay hundreds of millions of dollars more in taxes each year. The Tax Excessive CEO Pay Act would incrementally hike a company's tax rate based on the size of its CEO-to-median-worker pay ratio.
'At a time of massive income and wealth inequality, the American people are demanding that large, profitable corporations pay their fair share of taxes and treat their employees with the dignity and respect they deserve. That is what this legislation will begin to do.' 'Corporate greed is a disease that has long afflicted our country.' The latest available executive pay data, as analyzed by the Economic Policy Institute , shows that top U.S.