Multi-million dollar salaries being paid to executives of for Profit and Non-Profit Organizations are being subsidized by the U.S. Taxpayer by being written off as a business expense for tax purposes. This reduces how much profit must be reported and greatly reduces how much tax is being paid. For Non-Profit Organizations it deflects donations into executive salaries, which are not officially considered to be profits and reducing the funding available to be actually used for non-profit work.
This Petition would limit to $250,000 annually how much compensation for any one individual could be written off as a business expense. The limit would be adjusted annually for inflation using the Social Security COLA.