We are usually diametrically opposed to taxing spending, but what about a corporate luxury tax on stock buybacks? Buybacks are the latest scheme to inflate executive and top shareholder pay while at the same time making capital unavailable when needed. Claim chapter 11, negotiate debts, lay off employees, rinse and repeat. Moral hazard.

One idea Harris should consider embracing, both to impress working-class voters on the campaign trail this year and to help navigate the legislative thicket next year: is to raise the corporate tax rate only on corporations that pay their chief executives absurdly more than they pay their workers.

In 2021, writing for the Washington Monthly, Carter Dougherty urged Biden to adopt a version of a policy that originated in Portland, Oregon: Companies that pay CEOs 100 times more than their median worker must cough up a 10 percent tax surcharge. If the ratio is 250-to-1, then the surcharge is 25 percent. In 2023, also in the Monthly, Jessica Church argued such a law could have rendered the protracted United Auto Workers strike unnecessary.

The appeal of the approach is clear. CEO compensation has skyrocketed in the last few decades, fueled by financial instruments like stock options, while worker compensation has lagged. This is a way to help increase the pay packages of average Americans without complex government bureaucracy or contentious labor strikes. As a Portland City Council member told Dougherty, “The goal was not to make money. The goal is to get employers to raise median wages.”

so instead of committing to fight with the workers to gain better rights and raising the minimum wage we are just going to try force the situation with horseshit regulations?

the fire she started with is already going out not to mention her right wing immigration stance

here we go again

Democrats using Fascism Lite to combat Republican’s Fascism Original