Posted by Warm Southern Breeze on Saturday, September 3, 2016
Executive Excess 2016: The Wall Street CEO Bonus Loophole
This 23rd annual report reveals how taxpayers are subsidizing financial crisis windfalls.
By Sarah Anderson and Sam Pizzigati, August 31, 2016
This report is the first to calculate how much taxpayers have been subsidizing executive bonuses at the nation’s largest banks.
The study focuses on a 1993 Clinton administration reform that was intended to rein in runaway CEO pay by capping the tax deductibility of executive compensation at $1 million. But the new rule included a huge loophole for stock options and other “performance” pay. As a result, the more corporations hand out in executive bonuses, the lower their tax bill. This perverse incentive for excessive compensation has been a major factor in the explosion of CEO pay.
The financial bailout program closed this loophole for recipients, but only until Read the rest of this entry »
Posted in - Business... None of yours, - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: #BonusLoophole, 2016, abuse, bailout, banks, Big Banks, Bill Clinton, bonus, bonus loophole, CEO, CEO Bonus, CEO Compensation, Clinton, Congress, executive excess, fraud, free ride, government, law, legislation, loophole, money, pay, policy, report, research, study, subsidize, subsidy, tax deduction, tax dollars, tax free, taxes, taxpayer bailout, Wall Street, waste, Wells Fargo | Leave a Comment »
Posted by Warm Southern Breeze on Tuesday, August 14, 2012
“And you know what he did with it? He’s used it to pay for Obamacare, a risky, unproven, federal takeover of health care.” –Mitt Romney
Government estimates say that more than 6,000 jobs statewide and 20 percent of Iowa‘s electricity needs come from wind power, and the state’s senior GOP leaders all support renewing an extension of a wind tax credit that Romney opposes.
Romney’s campaign did not respond to repeated quests for his position on the other portions of the bill, which includes items such as a tax break for developers of NASCAR facilities and purchasers of electric motorcycles.
FACT: The Congressional Budget Office (CBO) has determined that the Patient Protection and Affordable Care Act is fully paid for, Read the rest of this entry »
Posted in - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: Affordable Care Act, assholes, Banksters, Barack Obama, bastards, Big Banks, Big Insurance, CBO, Congressional Budget Office, corrpuption, corrupt, Democrats, Douglas W. Elmendorf, Glass-Steagall Act, GOP, insurance, liars, Medicare, Mitt Romney, Obama, Obamacare, Office of Management & Budget, Patient Protection and Affordable Care Act, Paul Ryan, POTUS, Republicans, Romney Ryan, Ryan Budget, tax cuts, taxes, unholy trinity, United States, Wall Street | Leave a Comment »