In the fight against income inequality we need to do more than raise the
minimum wage to close the gap in wage equity between CEOs and workers.

Please read the message below from Former Secretary of Labor Robert
Reich calling on all of us to stand with Senator Bernie Sanders in
support of the Tax Excessive CEO Pay Act. We can make this happen, but
only if we all stand up and fight for it together. - The DFA Team

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John,

Senator Bernie Sanders recently introduced the Tax Excessive CEO Pay Act,
a bill that would apply a higher corporate tax rate on companies that pay
their CEOs an outrageously high amount of compensation compared to their
median workers.

Just 50 years ago the standard CEO made one million dollars per year, an
average of 20 to 30 times the median pay of the average worker.

The ascent of CEO pay is outrageous. Now, the typical CEO of a firm in the
S&P 500 makes nearly $15 million per year, or 320 times the median pay of
their average worker.

Not all big firms confer such riches on their top executives, but for
those that do, this is how it would work: The Tax Excessive CEO Pay Act
would target companies with the biggest gaps between CEO and median worker
pay, increasing the corporate tax rate by .5 to 5 percent more for every
dollar of excessive pay that is 50 to 500 times the pay of the median
worker. This legislation would make companies pay a price for giving away
huge CEO payouts while ignoring their workers.

For too long the ultra-wealthy have written the rules of the game to their
advantage. They have made sure that they make more and more, while workers
make less and less.

To make something good happen in Washington, good people outside
Washington have to organize and mobilize. [ [link removed] ]That’s why I am asking you to
join me in supporting Senator Bernie Sanders by becoming a citizen
co-sponsor of the Tax Excessive CEO Pay Act.

Add Your Name: [link removed]

By increasing the tax rate on companies with excessive CEO pay, the Tax
Excessive CEO Pay Act could raise as much as $150 billion over 10 years,
helping to reduce the current unchecked growth of wealth and income
inequality.

Out of control growth of CEO pay is one of the key drivers of the extreme
rise in income inequality and wage stagnation in the United States and
it’s the reason why we have been unable to solve many of the crises we
face.

Democracy for America members have been fighting to address the income
inequality crisis in this country for years. Now, some of our boldest
leaders are stepping up with real, concrete plans to level the playing
field.

[ [link removed] ]Please join me and DFA as we mobilize to raise taxes on the rich by
becoming a citizen co-sponsor of the Tax Excessive CEO Pay Act.

Sign Our Petition: [link removed]

Thank you for taking action today and continuing to raise your voice.

Robert Reich
Former Secretary of Labor
Co-founder, Inequality Media Civic Action

 

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