(or, Why I'm Voting Democrat in 2004)
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CEOs, heirs to stock fortunes win big with cut
The CEOs of large corporations bring home an average of $8.1 million per year — more than most Americans will see in their lifetimes. In 2003, the average CEO of a large corporation pulled down 300 times as much pay as did the typical worker.
"Tax breaks for corporations (and their investors, particularly large ones) were a major part of the Administration's 2002 and 2003 initiatives," (Warren Buffett) wrote. "If class warfare is being waged in America, my class is clearly winning."
The Republican-led U.S. House of Representatives wants to give even more tax breaks to the rich - to "stimulate the economy," they say. Interesting. Will the rich then reinvest the taxpayer's money so the "trickle down" produces more jobs?
CEOs at companies with the largest layoffs, most underfunded pensions and biggest tax breaks were rewarded with bigger paychecks, according to a new report, “Executive Excess 2003: CEOs Win, Workers and Taxpayers Lose.”
Tax Subsidies Reward Job Cutters
