The Wrong Way to Target Corporate Excess
When in doubt, go after corporate fat cats. Sensitive to criticism that existing revenue and cost measures won’t fully pay for their proposed $3.5 trillion spending plan , Congressional Democrats have their eyes on lavish executive compensation as a source of revenue. One proposal is an excise tax on companies that buy back a “significant” amount of their own stock. Another would target companies that pay bosses a high multiple of average employee compensation...
