Demand Progress

In the 1970s, CEOs were paid 20-30 times the average pay of their company’s middle-class workers. Today, a CEO at the largest 350 U.S. publicly-owned firms makes close to 344 times the average pay of a typical worker.¹ That’s outrageous corporate greed.

While workers are struggling to pay for groceries, rent, mortgages, utilities, and prescription medications (and save for retirement), the ultra-rich like Elon Musk and Jeff Bezos are making billions.

Senator Bernie Sanders just introduced the Tax Excessive CEO Pay Act² to punish corporations for these giant pay disparities, lower CEO pay, and increase wages for the working class.

Sign the petition: Tell Congress to pass the Tax Excessive CEO Pay Act!

When introducing the bill, Sanders said, “The American people are sick and tired of CEOs making nearly 350 times more than their average employees while over 60 percent of Americans live paycheck to paycheck.”

The legislation would increase taxes on corporations with CEO-to-median-worker pay ratios above 50 to 1. If passed, the legislation will either drastically force CEO pay down or raise around $150 billion over 10 years.⁴

We need this legislation to check corporate greed that passes on ridiculously high salaries to CEOs for cutting corners and increasing shareholder value instead of investing in workers and paying better wages.

Add your name: Tax outrageous CEO pay now!

Sources:

1. Office of Senator Bernie Sanders, “NEWS: Sanders and Colleagues Introduce Legislation to Combat Corporate Greed and End Outrageous CEO Pay,” January 22, 2024.
2. Reuters, "'Outrageous' CEO pay targeted in new bill from Bernie Sanders, US Democrats," January 22, 2024.
3. Office of Senator Bernie Sanders, “NEWS: Sanders and Colleagues Introduce Legislation to Combat Corporate Greed and End Outrageous CEO Pay,” January 22, 2024.
4. Ibid.