Despite the worst economic crisis since the Great Depression, top corporate executives are still taking home staggeringly more than their counterparts a generation ago.
Hedge fund manager earnings, says the industry’s top scorekeeper, drifted down toward terra firma in 2008. But they remain, despite the global financial collapse, at absolutely stratospheric levels.
Lawmakers in the House, with their vote to tax bailout bonuses at 90 percent, have taken a
first step to real tax progressivity. But America’s rich, amid the AIG uproar, are still enjoying bargain-basement tax rates.
Critics are charging that the tax hikes on the wealthy in the new White House budget unfairly attack the most worthy among us.
We all know about the greed and grasping at Wall Street’s failed giants. But the greed at ‘successful’ companies elsewhere in America is getting a free pass.
A wave of chief executive pay cuts is washing across Corporate America. So are CEOs suddenly hurting — or turning hard times into still more good times at the top of the corporate ladder?
Senate opponents of an auto bailout want autoworkers to give up what’s left of their middle class status. But a different bailout approach — keyed off CEO pay — could actually leave our middle class strengthened.
Automaker CEOs actually believe they’re getting the short end of Corporate America’s executive pay stick. Amazingly enough, they actually have a case — and the rest of us have a reason to demand a total overhaul of U.S. executive pay.
America’s top executives may have driven the U.S. economy into the ditch. But, hey, that’s no reason they should take a pay cut, it it? They certainly don’t think so.
The Wall Street bailout legislation, despite claims to the contrary, does precious little to limit the outrageously extravagant pay rewards that give top executives the incentive to behave outrageously.