{"id":15410,"date":"2025-09-30T12:04:29","date_gmt":"2025-09-30T17:04:29","guid":{"rendered":"https:\/\/midamerica.news\/eagle-grove-eagle\/?p=15410"},"modified":"2025-09-30T12:04:30","modified_gmt":"2025-09-30T17:04:30","slug":"even-the-pope-is-fed-up-with-overpaid-ceos","status":"publish","type":"post","link":"https:\/\/midamerica.news\/eagle-grove-eagle\/2025\/09\/30\/even-the-pope-is-fed-up-with-overpaid-ceos\/","title":{"rendered":"Even the Pope Is Fed Up With Overpaid CEOs"},"content":{"rendered":"

Americans are fed up with CEOs that stiff their workers. And one of those fed up Americans happens to be the pope.<\/h3>\n
\"\"<\/a>
Pope Leo XIV giving an audience to the media, on May 12, 2025. (Photo by Edgar Beltr\u00e1n, The Pillar\u202f\/Wikimedia, CC-BY-SA-4.0<\/a>)<\/figcaption><\/figure>\n
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<\/div>\n
By\u00a0<\/span>Sarah Anderson<\/a><\/span><\/div>\n<\/div>\n
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Americans are fed up with overpaid CEOs. And one of those fed up Americans happens to be the pope.<\/p>\n

In his\u00a0first interview<\/a>\u00a0since becoming the leader of the Catholic Church, Pope Leo XIV warned about the \u201ccontinuously wider gap between the income levels of the working class and the money that the wealthiest receive.\u201d<\/p>\n

\u201cFor example, CEOs that 60 years ago might have been making four to six times more than what the workers are receiving,\u201d he continued. \u201cThe last figure I saw, it\u2019s 600 times more than what average workers are receiving.\u201d<\/p>\n

He\u2019s right. That figure likely came from\u00a0a recent report I wrote for the Institute for Policy Studies<\/a>. We found that CEOs at America\u2019s 100 largest low-wage employers now take home, on average,\u00a0632 times more<\/i>\u00a0than their median workers.<\/p>\n

That kind of inequality means big trouble for our economy and democracy. But policymakers have the tools to curb this CEO greed. One particularly promising solution: tax hikes on companies with huge gaps between their CEO and median worker pay.<\/p>\n

A recently introduced bill, the\u00a0Tax Excessive CEO Pay Act<\/a>, would add a tax of 0.5 percentage points on companies with CEO-worker pay gaps of 50 to 1. It would top out at an extra 5 percentage points on firms that pay their CEO more than 500 times median worker pay.<\/p>\n

At the Institute for Policy Studies,\u00a0we ran the numbers on 10 leading U.S. corporations with large pay ratios<\/a>.<\/p>\n

We found that Walmart, with a five-year average pay gap of 1,091 to 1, would have owed as much as $929 million in extra federal taxes in 2024 if this legislation had been in effect. Amazon, with an even wider gap of 1,995 to 1 and higher profits, would\u2019ve owed as much as an additional $3.1 billion last year.<\/p>\n

Home Depot would have owed as much as $725 million more in 2024 taxes under this legislation. Like most of these companies, the home improvement giant can\u2019t claim to be short on cash.<\/p>\n

Over the past six years, they\u2019ve blown nearly\u00a0$38 billion on stock buybacks<\/a>, a maneuver that artificially inflates a CEO\u2019s stock-based pay. With the money the firm spent on stock buybacks, Home Depot could\u2019ve given every one of their 470,100 employees six annual $13,423 bonuses.<\/p>\n

If Elon Musk receives the full $975 billion compensation package that Tesla\u2019s board has proposed, Tesla could owe up to\u00a0$100 billion<\/a>\u00a0more in taxes over the next decade under this legislation.<\/p>\n

Polling suggests that Americans across the political spectrum would support the bill.<\/p>\n

One\u00a02024 survey<\/a>, for instance, found that 80 percent of likely voters favor a tax hike on corporations that pay their CEOs more than 50 times more than what they pay their median employees. Large majorities in every political group gave the idea the thumbs up, including 89 percent of Democrats, 77 percent of independents, and 71 percent of Republicans.<\/p>\n

In these hyper-polarized times, Americans of diverse backgrounds, faiths, and political perspectives seem to share enormous common ground on at least one problem facing our nation: the extreme economic divides within our country\u2019s largest corporations.<\/p>\n

Sarah Anderson directs the Global Economy Project at the Institute for Policy Studies and releases its annual \u201cExecutive Excess\u201d study of CEO pay. This op-ed was adapted from Inequality.org and distributed for syndication by OtherWords.org.<\/em><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Americans are fed up with CEOs that stiff their workers. And one of those fed up Americans happens to be the pope. By\u00a0Sarah Anderson Americans are fed up with overpaid CEOs. And one of those fed up Americans happens to be the pope. In his\u00a0first interview\u00a0since becoming the leader of<\/p>\n","protected":false},"author":1,"featured_media":15411,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7664],"tags":[],"class_list":["post-15410","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-us-opinion",""],"nelio_content":{"autoShareEndMode":"never","automationSources":{"useCustomSentences":false,"customSentences":[]},"efiAlt":"","efiUrl":"","followers":[1],"highlights":[],"isAutoShareEnabled":false,"networkImageIds":[],"permalinkQueryArgs":[],"series":[],"suggestedReferences":[]},"yoast_head":"\nEven the Pope Is Fed Up With Overpaid CEOs - Eagle Grove Eagle<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/midamerica.news\/eagle-grove-eagle\/2025\/09\/30\/even-the-pope-is-fed-up-with-overpaid-ceos\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Even the Pope Is Fed Up With Overpaid CEOs - Eagle Grove Eagle\" \/>\n<meta property=\"og:description\" content=\"Americans are fed up with CEOs that stiff their workers. 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