I don't know how big a laugh the Democrats will get for their new proposal, but presenting a strong alternative to selling government out to the biggest business can only help stop this slide into creeping fascism:
State Representative Mark Pocan and State Senator Fred Risser today circulated a bill that would limit government tax deductions to corporations with inflated chief executive officer pay. Pocan said, “I believe that if a corporation wants to get a $1 million tax deduction from our state, they should have to earn it by paying a fair wage.”
Current law allows a corporation to deduct up to $1 million from its income tax for its executive officer. The Income Equity Act would link the government tax deduction to the salary of the company’s lowest paid full-time employee. Corporations would be allowed to qualify for a deduction up to 25 times its lowest paid full-time employee. Thus, if the lowest paid employee earned $15,000 per year, the corporations would be allowed to claim a $375,000 deduction. Pocan and Risser first introduced the bill in 1999 when Pocan was a freshman.
No comments:
Post a Comment