The Democratic presidential hopeful announced a new tax plan aimed at bridging the pay gap between the high-paid top executives and their employees.
that aims to penalize companies where the top executive is paid more than 50 times what the median worker makes.
The median CEO pay at these top 50 firms was $15.9 million in 2018, according to the study. For the typcial worker at the same firms, average 2018 pay was $10,027. Roughly 88% had temporary or part-time status in 2018, the study found. Further, 31% of them worked in China, Mexico, or another low-wage country.
The problem is prevalent even outside the top 50 firms with the widest pay gaps, according to the study. More than 80% of firms in the S&P 500 paid their CEO more than 100 times the median worker pay in 2018, IPS found. Only five firms in that group had ratios of less than 25-to-1. But even that's a flawed measure of CEO wealth, according to the study. The majority of CEO real earnings come from holding company stock. Those can be as high as $87 billion for
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