John,

In 2018, CEOs made 287 times more money than the average worker.[1] But it hasn’t always been this way.

Back in 1950, the CEO-to-median worker pay ratio was just 20-to-1. And in 1980 it was 42-to-1.[2]

So, what happened?

Over the last 30-40 years, corporations started prioritizing corporate profits over worker pay, and they paid CEOs a premium for helping to make their rich shareholders even richer.

At a time of stagnant wages and record corporate profits, something’s gotta give. Now, Senator Jeff Merkley (D-OR) has introduced the Fair Share for Workers Act, which would assess an additional tax on corporations with revenues of more than $1 billion and whose CEO-to-worker-pay ratio is higher than 30-to-1.

This surtax on corporate profits―which rises gradually from 2 to 10 percentage points depending on how awful a corporation’s pay ratio is―will encourage corporations to invest in workers, not CEOs.[3]

Join Americans for Tax Fairness Action Fund and our friends at CREDO in demanding Congress pass Senator Merkley’s Fair Share for Workers Act, which will make sure workers get a fairer share of their companies’ profits.

Right now, we see striking General Motors workers fighting for fair pay and benefits while GM’s CEO makes $22 million each year (281 times the average GM worker).[4]

The CEO of McDonalds makes an obscene 2,124 times the average McDonald’s worker. And the CEO of The Gap makes 3,566 times more than their average employee.[5]

As Senator Merkley said:

“The privileged and powerful have rigged our government and our economy so that they take home the big profits, while the workers who create the wealth are squeezed to maximize work and minimize pay. We can and should have an economy where workers take home a fair share of the wealth they create, and this bill is a critical step toward that vision.”

Sign the petition and demand Congress pass the Fair Share for Workers Act to address run-away CEO pay and demand working people earn a fair wage.

Together, we’re demanding an economy that works for everyone, not just for CEOs and wealthy shareholders.

Thank you,

Mark Rickling

Policy and Legislative Director
Americans for Tax Fairness Action Fund

[1] “CEOs made 287 times more money last year than their workers did,” Vox, June 16, 2019
[2] “CEO compensation has grown 940% since 1978,” Economic Policy Institute, Aug. 14, 2019
[3] “Ahead of Labor Day, Merkley announces legislation so workers gain, not just CEOs,” Senator Jeff Merkley
[4] “GM CEO Barra's pay dipped slightly to just under $22 million in 2018,” Reuters, April 18, 2019
[5] “CEOs made 287 times more money last year than their workers did,” Vox, June 16, 2019