Speaking to The Guardian, Novick says: “To me, after global warming, income inequality is the biggest challenge we face in our society.
“It’s been absolutely frightful to see the divide between regular folks and the richest-of-the-rich. It’s economically destabilising, it’s politically destabilising, it’s unhealthy.”
His proposals are to increase corporate income tax by ten per cent if a company’s CEO has a ratio above 100:1 and by 25% if the ratio is above 250:1.
The commissioner has said he is "95% confident" he will secure the three votes needed to pass the measure through the five-person council.
Branko Milanovic, a professor at New York University who specialises in income inequality, also spoke to The Guardian: “What I find quite interesting is that it seems [to be] the first tax that targets inequality as such.
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