John,
Half a century ago, most Americans believed they had a fair shot at a decent life if they worked hard. In the 1960s and 70s, CEOs typically made 20 to 30 times the pay of their own workers — enough to reward leadership, but not so much to distort the entire economy and alienate workers who could still aspire to the American Dream.
Today, that gap has exploded. The average CEO at a major corporation now takes home nearly 300 times what their employees earn. In some cases, the disparity is so grotesque it defies belief:
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Walmart’s CEO raked in $27.4 million last year — 930 times the median Walmart worker’s $29,469 salary.
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Coca-Cola’s CEO made $28 million — nearly 2,000 times what the average Coke worker earned ($14,144).
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Starbucks’ CEO pocketed $95.8 million in 2024 — almost 3,000 times the typical barista salary of $32,000.
Meanwhile, Tesla just approved a nearly $1 trillion pay package for Elon Musk — the world’s richest man (except for on September 10, 2025, when Oracle CEO Larry Ellison’s net worth briefly surpassed his). This pay package would make Musk the first trillionaire in history.
Undervaluing workers’ labor fuels resentment, anger, disillusionment, and fear — creating conditions ripe for a demagogue to exploit. This yawning gap between the wealth of executives and the everyday people who generate that wealth is obscene. The American people agree: a staggering 62% support setting caps on CEO pay relative to worker pay.
That’s why Senator Bernie Sanders and Congresswoman Rashida Tlaib have introduced the Tax Excessive CEO Pay Act. Become a grassroots co-signer and tell Congress to pass this bill to create a more sustainable economy that works for working people.
Pope Leo also noted these concerns: “CEOs that 60 years ago might have been making four to six times more than what workers receive, the last figure I saw, it’s 600 times more.” As for Elon Musk becoming the world’s first trillionaire, he continued: “What does that mean and what’s that about? If that is the only thing that has value anymore, then we’re in big trouble.”
He’s exactly right.
But we can do something about this. Under the bill, companies would pay higher taxes if their CEO-to-worker pay ratio exceeds 50-to-1, like so:
If Tesla’s board approves Musk’s staggering $975 billion pay package, the company would owe up to $100 billion more in taxes over the next decade under this bill.
Bernie Sanders put it plainly: “We can no longer tolerate a rigged economy that enables the richest man in the world, Elon Musk, to become the first trillionaire, while 60% of Americans live paycheck to paycheck and millions work longer hours for lower wages.”
It’s time to draw the line. Add your name to co-sponsor the Tax Excessive CEO Pay Act.
Thank you for demanding an economy that works for working people — not just the wealthy few at the top.
Robert Reich
Inequality Media Civic Action
