Like a child asking Mom for another helping of split pea soup and
being told that "We can't afford your piggy ways", while mom and dad
light up another cigarette and pour another glass of booze, the
Working Class stands meekly before the Greed Ridden Corporate "moms
and dads", pleading for just a little relief.
Carl Jarvis
On 9/2/16, Miriam Vieni <miriamvieni@xxxxxxxxxxxxx> wrote:
Excerpt: "U.S. taxpayers have been subsidizing more than US$2 billion in
executive bonuses at the nation's largest banks since 2012, according to a
new report published Thursday by the Institute for Policy Studies."
Wall Street. (photo: AP)
Taxpayers Subsidize Billions in Wall Street Bonuses: Report
By teleSUR
02 September 16
According to the study, 20 U.S. banks paid more than US$2 billion in
bonuses
to their top five executives over the past four years.
U.S. taxpayers have been subsidizing more than US$2 billion in executive
bonuses at the nation's largest banks since 2012, according to a new report
published Thursday by the Institute for Policy Studies.
"Taxpayers should not have to subsidize excessive CEO bonuses at any
corporation," said report author Sarah Anderson. "But such subsidies are
particularly troubling when they prop up a pay system that encourages the
reckless behavior which caused one devastating national crisis, and could
cause more in the future."
According to the study, 20 U.S. banks paid more than US$2 billion in
bonuses
to their top five executives over the past four years. This translates into
a taxpayer subsidy worth more than US$725 million, or US$1.7 million per
executive per year.
"The study focuses on a 1993 reform under former President Bill Clinton
that
was intended to rein in runaway CEO pay by capping the tax deductibility of
compensation at US$1 million," says the report. "Instead, the new rule
fueled the explosion of CEO pay by including a huge loophole for stock
options and other 'performance' pay."
Democratic presidential nominee Hillary Clinton said she wants to reform
this loophole, but hasn't said she will close it.
Among other findings, between 2010 and 2015, the top executives at the 20
largest banks earned more than US$800 million in bonuses. Also, executives
reaped large bonuses that their banks could write off as tax deductions.
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valid.
Wall Street. (photo: AP)
http://www.telesurtv.net/english/news/Taxpayers-Subsidize-Billions-in-Wall-S
treet-Bonuses-Report-20160901-0032.htmlhttp://www.telesurtv.net/english/news
/Taxpayers-Subsidize-Billions-in-Wall-Street-Bonuses-Report-20160901-0032.ht
ml
Taxpayers Subsidize Billions in Wall Street Bonuses: Report
By teleSUR
02 September 16
According to the study, 20 U.S. banks paid more than US$2 billion in
bonuses
to their top five executives over the past four years.
.S. taxpayers have been subsidizing more than US$2 billion in executive
bonuses at the nation's largest banks since 2012, according to a new report
published Thursday by the Institute for Policy Studies.
"Taxpayers should not have to subsidize excessive CEO bonuses at any
corporation," said report author Sarah Anderson. "But such subsidies are
particularly troubling when they prop up a pay system that encourages the
reckless behavior which caused one devastating national crisis, and could
cause more in the future."
According to the study, 20 U.S. banks paid more than US$2 billion in
bonuses
to their top five executives over the past four years. This translates into
a taxpayer subsidy worth more than US$725 million, or US$1.7 million per
executive per year.
"The study focuses on a 1993 reform under former President Bill Clinton
that
was intended to rein in runaway CEO pay by capping the tax deductibility of
compensation at US$1 million," says the report. "Instead, the new rule
fueled the explosion of CEO pay by including a huge loophole for stock
options and other 'performance' pay."
Democratic presidential nominee Hillary Clinton said she wants to reform
this loophole, but hasn't said she will close it.
Among other findings, between 2010 and 2015, the top executives at the 20
largest banks earned more than US$800 million in bonuses. Also, executives
reaped large bonuses that their banks could write off as tax deductions.
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http://e-max.it/posizionamento-siti-web/socialize
