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California Democrats proposed a law Thursday that would raise state taxes on publicly traded companies that pay their top-earning employee 100 times as much or more as the company's average worker.
“The job creators are not CEOs,” he said. “The job creators are not the rich. The job creators are the middle, lower middle class and the poor with enough money to buy.”
There also would be steep tax penalties imposed on companies that tried to evade the new structure by replacing workers with contractors.