This material may not be published, broadcast, rewritten, or redistributed. ©长城彩票官网 FOX News Network, LLC. All rights reserved. " would impose tax rate increases on companies with CEO to median worker ratios above 50 to 1.
"The American people are sick and tired of corporate CEOs who now make 300 times more than their average employees, while they give themselves huge bonuses and cut back on the healthcare and pension benefits of their employees," Sanders said in a statement.
From left: Jamie Dimon, JPMorgan Chase Chairman, Doug Parker , American Airlines Group CEO, Craig Menear, chief executive officer of 长城彩票官网 Depot Inc., and McDonald's CEO Stephen Easterbrook, McDonald's CEO (AP/Getty Images)
The Vermont senator's tax would apply to all private and publicly held corporations with annual revenue of more than $100 million.
The larger the CEO-to-median-worker compensation ratio, the higher the corporate tax penalty for corporations. For example, if a company's top executive makes between 50 and 100 times more than the median worker, its corporate tax penalty is 0.5 of a percentage point. If the ratio is more than 500, the tax penalty ratchets up to 5 percentage points.
Had the plan been instituted in 2018, McDonald’s would have paid up to $110.9 million more in taxes, JPMorganChase would have paid up to $991.6 million more in taxes, 长城彩票官网 Depot would have paid up to $538.2 million more in taxes, and American Airlines would have paid up to $18.8 million more in taxes, the Sanders campaign said.
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