Sanders' plan would raise tax rates on companies where the chief executive officer or highest-paid employee earns more than 50 times the median worker salary. The independent U.S. Senator from Vermont is competing for the Democratic nomination to challenge Republican President Donald Trump in the
- U.S. presidential candidate Bernie Sanders on Monday laid out a plan to hike taxes on big companies with wide pay gaps between executives and rank-and-file workers.
The proposal comes amid increased scrutiny of income inequality and top executives' pay as a contributing factor. A Securities and Exchange Commission rule adopted in 2015 now requires companies disclose CEO pay ratios. If Sanders' plan had been in place last year, JPMorganChase would have paid up to $991.6 million more in taxes, Sanders' campaign said in the statement. Walmart Inc would have paid up to $793.8 million more and McDonald's Corp would have paid up to $110.9 million more.
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