Institute for Policy Studies Report: Corporations Change Rules to Increase CEO Pay During Pandemic, Layoff Workers

The details are in this report:

Just one juicy detail among many:

“Hilton CEO Christopher Nassetta had the largest paycheck among the rule-rigging companies. After he failed to meet the goals associated with his multi-year stock awards, the board “modified” the awards by disregarding poor 2020 financial results and changing the performance metrics. Those maneuvers inflated his total compensation to $56 million — 1,953 times as much as the company’s median worker pay of $28,608 in 2020.”

The article suggests support for the Tax Excessive CEO Pay Act, currently in Congress, which would impose a graduated tax depending on how much more than 50 to 1 the corporation’s CEO to median worker pay is.

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