Growing Concerns Over CEO Pay Inequality in South Africa and UK
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U.S. Senator Sheldon Whitehouse, along with Representatives Barbara Lee and Alexandria Ocasio-Cortez, has introduced the Curtailing Executive Overcompensation (CEO) Act. The legislation aims to address the growing pay disparity between CEOs and workers in the US automotive industry by applying an excise tax on companies with at least a 50 to one CEO-to-median-worker pay ratio. The tax would be proportional to the executive's compensation and the degree the pay ratio exceeds 50 to one. The CEO Act would have raised over $10.1 billion from the top 100 US companies alone in 2022. The bill has received support from various organizations, including unions, advocacy groups, and think tanks.
The wage gap between CEOs and workers in South Africa is a key driver of rising inequality. The average ...
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