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homoe · 03-18-2021, 10:33 AM

Sanders, Warren legislation would hike taxes to curb 'absurd' CEO pay.

Sen. Bernie Sanders (I., Vt.), Sen. Elizabeth Warren (D., Mass.) and several Democratic lawmakers re-introduced legislation on Wednesday that would raise taxes on companies that pay their CEOs more than 50 times the pay of a median worker. Sanders unveiled the bill hours before leading a Senate Budget Committee hearing focused on income and wealth inequality.

Sanders invited Amazon CEO Jeff Bezos to testify during the hearing, but Bezos declined. An Amazon (AMZN) worker fighting for a union in Alabama did join the hearing. Sanders accused Bezos of trying to stop workers from forming a union, and blasted him for amassing tens of billions in wealth throughout the pandemic while many of his workers struggled.

"Amazon and Jeff Bezos are not alone. The American people are increasingly disgusted with the corporate greed they're experiencing every single day," said Sanders at the hearing. "They're sick and tired of CEOs that now make 320 times more than their average employees, while at the same time giving themselves big bonuses, golden parachutes and yet they cut back on the healthcare that their workers have."

Sanders pointed to an Economic Policy Institute Study that found CEO compensation grew by 1,167% from 1978 to 2019.

03-18-2021, 10:33 AM	#4641
homoe Practically Lives Here How Do You Identify?: Butch Relationship Status: ..... Join Date: Nov 2009 Location: 30 minute ferry ride from Seattle Posts: 38,565 My Photo Gallery Thanks: 20,811 Thanked 33,561 Times in 14,920 Posts Rep Power: 21474890	Watch the wealthy and GOP's go ballistic........ Sanders, Warren legislation would hike taxes to curb 'absurd' CEO pay. Sen. Bernie Sanders (I., Vt.), Sen. Elizabeth Warren (D., Mass.) and several Democratic lawmakers re-introduced legislation on Wednesday that would raise taxes on companies that pay their CEOs more than 50 times the pay of a median worker. Sanders unveiled the bill hours before leading a Senate Budget Committee hearing focused on income and wealth inequality. Sanders invited Amazon CEO Jeff Bezos to testify during the hearing, but Bezos declined. An Amazon (AMZN) worker fighting for a union in Alabama did join the hearing. Sanders accused Bezos of trying to stop workers from forming a union, and blasted him for amassing tens of billions in wealth throughout the pandemic while many of his workers struggled. "Amazon and Jeff Bezos are not alone. The American people are increasingly disgusted with the corporate greed they're experiencing every single day," said Sanders at the hearing. "They're sick and tired of CEOs that now make 320 times more than their average employees, while at the same time giving themselves big bonuses, golden parachutes and yet they cut back on the healthcare that their workers have." Sanders pointed to an Economic Policy Institute Study that found CEO compensation grew by 1,167% from 1978 to 2019.