BY: Citizens Count
On Wednesday, December 7 the Portland, Oregan city council voted to tax businesses at a higher rate if the CEO makes more than 100 times the pay of an average employee.
If the CEO makes more than 250 times what an employee makes, the tax will be even higher.
Supporters argue that the policy is a “tax on inequality itself.” In addition to acting as a check on growing income inequality, the tax will provide funding to fight homelessness.
Opponents argue that companies will leave any jurisdiction with such a tax. Others argue that the potential for high compensation motivates individuals to innovate and grow companies, which creates jobs.