Low-Wage Employers Spent Billions Inflating CEO Pay Through Stock Buybacks
President Biden has the power to crack down on executive excess by imposing new CEO pay and buyback restrictions on federal contractors.
Poor People's Campaign Moral Action Congress, Washington, D.C., June 17, 2019. Photo credit: Will Coley.
The Deficit Hawks versus the Big Spenders. That’s how the media typically portrays budget battles in Washington. We seldom hear about how government action to tackle our country’s most urgent social and environmental problems can actually save money.
In a new report, the Institute for Policy Studies and the Poor People’s Campaign reveal some of these underreported savings as part of a detailed analysis of the costs and benefits of transitioning to a moral economy.
We identified 10 ambitious changes that would offer huge returns on investment above the status quo.
If we accepted more immigrants and created a pathway for more undocumented people to gain legal status, the benefits would outweigh the costs by nearly $200 billion over 10 years, according to a Congressional Budget Office analysis. Why? Because once they’re allowed to come out of the shadows, immigrant workers would pay increased income and payroll taxes — above the billions they already pay.
To read about nine other ways a moral budget would save us money, see the original post on Marketwatch.
by Sarah Anderson
President Biden has the power to crack down on executive excess by imposing new CEO pay and buyback restrictions on federal contractors.
by Sarah Anderson
The proposal includes restrictions on insider stock sales and an excise tax designed to dampen the buyback spree.
by Sarah Anderson
If the minimum wage had increased as much as Wall Street bonuses since 1985, it would be worth $61.75 today.