Skip to content

HeFitty

Mobile Menu
  • Exercise
  • Fitness
  • Nutrition
  • Running
  • Workouts
  • Products
Home » Fitness » Portland imposes a tax on companies that pay their CEOs too much

Portland imposes a tax on companies that pay their CEOs too much

  • facebook
  • tweet
  • google+
  • pinterest

Portland is the first city to penalize companies in taxes for excessive CEO pay.
Image: Andrew Neel/stocksnap

What’s one way to stop companies from paying their CEOs too much? Taxes.

Portland, Ore. this week passed a law that penalizes companies whose chief executives make more than 100 times the median pay of their workers.

The tax, approved by Portland’s city council, is a way of combatting income inequality.

SEE ALSO: Facebook cofounder and others pledge $10 million toward universal basic income research

Companies will have to pay an additional 10 percent in taxes if they violate the rule, according to the New York Times. If a chief executive earns more than 250 times as much as his employees taxes will increase 25 percent.

Portland’s tax is the first of its kind in the United States, the New York Times said. About 550 companies in Portland pay the business tax that the penalty is based on, the Times reported.

Time to lower that CEO pay or raise workers’ salaries.

BONUS: This revolutionary bike is powered by your steps

Read more: http://mashable.com/2016/12/10/portland-ceo-pay-tax/

Related Posts

  • The afterburn effect: How it burns calories after you work out | Fox News
  • This Woman Is The Future Of INDYCAR Racing, And She’s Smoking Hot
  • Five yoga strategies to stress less

Post navigation

Is it time to change how we label ‘healthy’ food?
22 Gifts That Will Give You Serious Design Cred

Recent Posts

  • Tragic boxer Mike Towell’s family files NHS complaint – BBC News
  • Are Google’s top-searched diets for 2016 healthy?
  • Trump Considering Crackdown On Welfare For Legal Immigrants
Contact | Privacy | Terms | Amazon Disclaimer