House Republicans, with help from some Wall Street-friendly Democrats, are rushing to repeal the most promising Dodd-Frank Act check on excessive executive pay. Their rationale? Expecting corporations to calculate how much they pay their most typical workers would impose a burden too heavy for corporations to bear.
Just like the United States, Australia has a debt ceiling. Australian borrowing bumps up against this ceiling on a regular basis. But there the similarity ends.
Sales taxes — of whatever stripe — fall harder on poorer than richer customers. And they squeeze smaller retailers more than big ones.
How much can a billion dollars buy? The undivided attention of America’s entire political and chattering classes. Case in point: our ongoing national fixation on debt and deficit.
A powerful coalition of U.S.-based global companies is lobbying hard for a “tax holiday” on offshore profits. Congress should say “no!”
Federal agencies are now preparing new regulations for enforcing the banker pay reforms enacted last summer. These new regs, says the AFL-CIO, need to prohibit the ‘incentive’ that’s still stuffing bankers with billions.
Republican leaders in Congress have a one-point program for whatever ails the nation: cut taxes for millionaires and large corporations.