The bigger the wage gap, the bigger the tax increase. California is moving to raise taxes on some of the country’s largest companies to fight income inequality and the wealth gap. In 2016, city officials in Portland, Oregon, approved a 10 percent tax on publicly traded companies that pay their CEOs 100 to 250 times the average worker. The proposal would only apply to companies that post at least $10 million of taxable income from business conducted in California. That salary was more than 1,400 times the median pay of a Disney employee, according to a study from Equilar.

Source: Fox News January 16, 2020 02:48 UTC