A New Ally Against Excessive CEO Pay: Pope Leo
Photograph Source: Edgar Beltrán / The Pillar – CC BY-Sa 4.0
In his first interview since becoming the leader of the Catholic Church, Pope Leo XIV fielded a question about the polarization that is tearing societies apart around the world.
A significant factor, he said, is the “continuously wider gap between the income levels of the working class and the money that the wealthiest receive.”
Pope Leo appears to be particularly baffled by the Tesla pay package that could turn Elon Musk into the world’s first trillionaire.
“What does that mean and what’s that about?” the Pope asked. “If that is the only thing that has value anymore, then we’re in big trouble.”
We are indeed in big trouble. But we are not without solutions.
Senator Bernie Sanders and Representative Rashida Tlaib are spearheading an effort behind one particularly promising solution: hefty tax hikes on companies with huge gaps between their CEO and median worker pay.
Their recently introduced Tax Excessive CEO Pay Act would base the CEO-worker pay ratio on five-year averages of........
