Portland to tax businesses based on ‘pay gap’ between CEOs and workers

Portland to tax businesses based on ‘pay gap’ between CEOs and workers
Portland: they don't need no stinking businesses. (Image: Shutterstock)

[Ed. – And businesses are going to sit still for this?  Of course not.  Literally.  A substantial percentage of them will move outside the city.  Portland will accomplish nothing but denying itself ALL the tax revenues from those businesses.]

It’s issue that was raised during the presidential campaigns: The widening gap of income inequality between CEOs and their employees.

“Middle class paychecks haven’t increased even though corporate profits and CEO pay keeps rising,” Hillary Clinton said on the campaign trail. …

In December, Portland, Oregon’s city council became the first to do something about it, by increasing taxes on businesses with those huge gaps – 10 percent on companies whose CEOs make 100 times the average worker, and 25 percent on CEOs who make 250 times that. …

“This ordinance won’t do anything to address income inequality,” said Sandra McDonough, the CEO of the Portland Business Alliance.

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