Mr. President, we ask you to propose the following to Congress:
No corporate tax for companies where the gap between highest* and lowest** earner is less than 100x. And the full corporate tax rate for companies where the gap is greater than 500x, with a sliding scale between these two extremes.
America faces competition from countries which offer low corporate taxes. At the same time, the middle class is being hollowed out as a larger share of corporate profits go to the highest earners.
Start-ups and small businesses would see likely no corporate tax, and more successful businesses could chose to pay their workers or the tax in the balance that works best for them.
Thank you for considering our petition.
*highest includes shareholders
**lowest includes independent contractors