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Why Keith Ellison and Jeremy Corbyn Think We Should Cap CEO Pay

Hamilton Nolan, arguing in Gawker that all income above $5 million a year be taxed at 99 percent According to the Economic Policy Institute, CEO compensation at the 350 highest-revenue publicly traded firms rose 875 percent from 1978 to 2012.

If companies spent less on CEOs, they might put profits toward increasing wages for everyday workers, paying more in taxes or investing in something else useful.

So long as a tiny minority hoards most of the wealth, these oligarchs are able to exert disproportionate social and political influence.

(He settled for an 88 percent tax rate above $200,000.) If a 100 percent top tax rate sounds out there, remember we had 90 percent under the Republican Eisenhower administration.

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