In the last two weeks, we have had the opportunity to enjoy the Olympics and witness the Olympic mission, which is the endeavor to place sport at the service of humanity and thereby promote peace. We also saw the Olympic values of striving for excellence, encouraging people to be the best they can be, demonstrating respect and celebrating friendship. Through the lens of a Sister of St. Joseph, this is another way to explain the charism. This ministry of serving the dear neighbor is alive and well in Los Angeles.
On January 14, community leaders, labor unions, and advocates gathered outside the Tesla Diner in Hollywood for a press conference to introduce the “Overpaid CEO Tax Initiative,” which we hope will be placed on the November 2026 ballot for the City of Los Angeles. I represented CLUE, Clergy and Laity United for Economic Justice, as an advocate.
On February 6, the group representing the Fair Games Coalition, which is committed to keeping ICE out of the 2028 Olympics Opening Ceremony, attempted to deliver a letter of protest to Casey Wasserman, the chairman of the Los Angeles Organizing Committee for the 2028 Olympic and Paralympic Games (LA28). Upon arrival for the scheduled meeting, the group was locked out of the building and unable to deliver the letter. The event was covered by the media, and a press conference addressed the concern.
As working families struggle to get by, corporations hand CEOs obscene paychecks. The inequality is staggering. In 2024, the nation’s largest companies paid their CEOs an average of 281 times more than their typical worker. These greedy companies overpay their CEOs while underpaying the people who do the work. It’s time they pay their fair share.
Last summer, when we launched the Fair Games Coalition outside the Los Angeles Coliseum, the Sisters of St. Joseph of Carondelet were among the many sponsors. We demanded that the IOC, LA28, the billionaires, and the corporations who will massively profit from these upcoming mega-events support the workers who will make these events possible in multiple ways—including funding 50,000 units of housing for working families.
Since then, we’ve visited the IOC offices, marched and protested. We haven’t heard back. Together, as community leaders, labor unions, and advocates, we’re launching the Overpaid CEO Tax Initiative to ensure that corporations pay their fair share so that working families can thrive.
So, this is how it is done. The Overpaid CEO Tax progressively taxes large corporations whose CEOs earn more than 50 times their median workers’ pay in Los Angeles, generating more than half a billion dollars, with every dollar reinvested back into our communities to support working families, including:
- $350 million annually to build tens of thousands of housing units for working people, including teachers, grocery workers, firefighters and hotel attendants.
- $100 million to repair over 100 miles of sidewalks annually.
- $25 million for after-school programs like LA’s Best, which serve over 12,000 students each year and provide working families with safe, high-quality care for their kids.
- $25 million to support 25 grocery stores annually, bringing healthy food choices to areas with no decent options.
To place the measure on the November ballot, supporters must collect 140,000 signatures by April 2026. If you are a resident of Los Angeles, or have friends or family who are residents, please contact me, Sister Diane Smith, dsmith@csjla.org, and I will make sure you can sign the petition.
Thanks for educating me on this concept