Steve Novick's CEO tax wins close vote, putting Portland on world map (Oregon)

Oregonian ^ | 12/08.2016 | Jessica Floum

[aimhigh]

Portland City Council approved the controversial plan 3-1 Wednesday, making a statement about growing income disparity in the United States while giving Commissioner Steve Novick a legacy piece in his final weeks in City Hall.

The tax targets publicly traded companies whose chief executives report salaries at least 100 times higher than the salary of a median worker.

[aimhigh]

So, it would tax two CEOs the same regardless of how many employees they had.

[A_Former_Democrat]

Hey, Portland . . .

Look at my thumb

[Paladin2]

Is the population of Portland growing or not?

[Drango]

bite me portland...world map???

[HokieMom]

That giant sucking sound you hear is Portland corporate HQs moving to red states.

[Vendome]

Wonder if it affects dividends, bonuses, options?

[RightGeek]

I sense an opportunity renting “headquarters office suites” just outside Portland city limits

[BipolarBob]

If I were a CEO, I would prohibit any of my business going to that city in any shape or form.

[MV=PY]

Brilliant.

As a shareholder of a public company, I really like it when the BOD hires one of those bargain CEOs.

Great way to shore up the bottom line. /s

Plus the city will benefit from driving away the business of those successful public companies. /s/s

[Fungi]

Destroying the top instead of raising the bottom. Real smart. Exodus 20:17: "You shall not covet your neighbor's house. You shall not covet your neighbor's wife, or his male or female servant, his ox or donkey, or anything that belongs to your neighbor." (NIV)

[napscoordinator]

Well an employee makes 10 dollars an hour, the CEO makes 1,000 an hour is ok? I think CEOs are seriously overpaid and many here have mentioned it as well in various posts. The CEOs took away the pensions and medical, but still haven’t raised the hourly wage. What did they do with all that money from the pensions and medical benefit? That would be easily a trillion dollars for many companies that were given to the CEOs.

[dsc]

As the city with the dumbest population in the world, yes.

[napscoordinator]

They might. But look at California with the highest taxes in the country, but managed a 2.9 billion dollar surplus. No other state sees that even Texas. Kansas is a complete and utter disaster. Hopefully they get their acts together.

[Salvation]

If you would like more information about what's happening in Oregon, please FReepmail me.

Please send me your name by FReepmail if you want to be on this list.

[Robwin]

Keep Portland weird.

[fruser1]

Wouldn’t it be cheaper if the companies just hired someone to kill these greedy politicians?

[workerbee]

The tax targets publicly traded companies whose chief executives report salaries at least 100 times higher than the salary of a median worker. Officials expect to raise $2.5 million a year starting in January 2018, with Novick hoping the money will help pay for homeless services.

I'm not sure I understand this. Are they talking about companies that are incorporated (or otherwise legally "tied" to Portland)? Or just any company, anywhere, that does business is Portland? (not sure how they could enforce a tax of that sort). Does the "salary of the median worker" refer only to employees of the CEO's company?

[morphing libertarian]

simple, no legitimate company have it’s headquarters in Portland.

[Cold Heart]

Keeping Portland Evil.

Most atheist city in the US.

First in human trafficking on the West Coast.

[A_Former_Democrat]

Yeah, it’s more than “ok”

Maybe you’d be happier in Portland