We are usually diametrically opposed to taxing spending, but what about a corporate luxury tax on stock buybacks? Buybacks are the latest scheme to inflate executive and top shareholder pay while at the same time making capital unavailable when needed. Claim chapter 11, negotiate debts, lay off employees, rinse and repeat. Moral hazard.
Especially considering buybacks used to be illegal.
No points for guessing which president legalised the practice.
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One idea Harris should consider embracing, both to impress working-class voters on the campaign trail this year and to help navigate the legislative thicket next year: is to raise the corporate tax rate only on corporations that pay their chief executives absurdly more than they pay their workers.
In 2021, writing for the Washington Monthly, Carter Dougherty urged Biden to adopt a version of a policy that originated in Portland, Oregon: Companies that pay CEOs 100 times more than their median worker must cough up a 10 percent tax surcharge. If the ratio is 250-to-1, then the surcharge is 25 percent. In 2023, also in the Monthly, Jessica Church argued such a law could have rendered the protracted United Auto Workers strike unnecessary.
The appeal of the approach is clear. CEO compensation has skyrocketed in the last few decades, fueled by financial instruments like stock options, while worker compensation has lagged. This is a way to help increase the pay packages of average Americans without complex government bureaucracy or contentious labor strikes. As a Portland City Council member told Dougherty, “The goal was not to make money. The goal is to get employers to raise median wages.”
so instead of committing to fight with the workers to gain better rights and raising the minimum wage we are just going to try force the situation with horseshit regulations?
the fire she started with is already going out not to mention her right wing immigration stance
here we go again
Democrats using Fascism Lite to combat Republican’s Fascism Original
So you don’t want to restrict CEO pay? Why is that fascism lite?
yes CEOs need to get paid less but it beats around the bush on the real issues keeping workers down and getting CEOs’ salaries lowered does not mean anything will trickle down
what about the minimum wage, worker’s rights, healthcare, parental leave, sick leave
this ignores lots of other issues
what about the fast food places that are using AIs in the drive throughs instead of paying living wages
just like when unemployment goes down and a president touts job creation never minding the fact they are usually factory jobs with pay that does not match labor or conditions let alone be a livable wage and are usually in the South where regulations are less and the workers have less rights/pay
“I disagree with something because it doesn’t address other issues” makes no sense.
Do you not support gay marriage because it doesn’t increase minimum wage? Do you not support abortion protection laws because they don’t include sick leave?
it does not address the whole issue entire no
choosing a band aid when you are gushing blood from a huge open wound is not a fix
not even baby steps
Agreed! If we tie Lower Taxes to High Worker Pay there’s LITERALLY Zero incentive for Corporations to Raise Worker Pay! We need REAL SOLUTIONS!
And then you’ll see even more companies using contracted workers instead of hiring employees.
Don’t get me wrong, it’s a needed move, but bastards will remain bastards, and CEOs are bastards.
Options should also be taxed as income from labor for social security and income tax
