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People Oppose Corporate CEO Pay Surge

3yrs ago from Green Left Weekly
Corporate CEO salaries have hit record high levels over the past year, according to the latest CEO pay report from the Australian Council of Superannuation Investors (ACSI). The report shows that pay for company bosses has reached its highest level for 17 years thanks to "persistent and increasing bonus payments". ACSI chief executive Louise Davidson told ABC radio on July 17 the results showed CEOs and company boards were "out of touch with community standards", especially given the federal government's concerted campaign for corporate tax cuts. "At a time when public trust in business is at a low ebb and wages growth is weak, board decisions to pay large bonuses just for hitting budget targets rather than exceptional performance are especially tone deaf," she said.
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Study: Tax Reform to Add 13.8K Jobs to Connecticut Economy

3yrs ago from TIME
Federal tax reform should result in Connecticut employers adding 13,800 jobs in the coming decade, according to an economic model from a Washington, D.C. think tank, including 2,450 jobs this year. On Thursday, the Tax Foundation expanded its 2018 jobs analysis to cover through 2027, two years after the expiration of individual reporting elements of the Tax Cuts and Jobs Act passed by Congress in December 2017. The Tax Foundation estimates that new U.S. individual corporate and individual tax rates will contribute to 215,000 new jobs nationally this year, and more than 1.2 million additional hires over 10 years while raising average wages.
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Liz Warren Is Already Very Angry at Trump’s Next Move

3yrs ago from The Blaze
A report that said President Donald Trump is considering another tax cut angered Senator Elizabeth Warren, who tweeted her objection Monday. Here's what she said [President Trump] wants to go around Congress & hand $100 billion to his rich buddies on top of $1.5 trillion he gave away to billionaires & big corporations last year," Warren tweeted. .@realDonaldTrump wants to go around Congress & hand $100 billion to his rich buddies on top of $1.5 trillion he gave away to billionaires & big corporations last year. DC works great if you’re rich & powerful. How about a gov't that works for everyone? https://t.co/Go0He6UoKl— Elizabeth Warren (@SenWarren) July 30, 2018 "DC works great if you’re rich & powerful," she added. "How about a gov't that works for everyone?" Warren linked to a report from the New York Times that the new tax cut would come from a redefinition of how capital gains are …
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With No Evidence That #GOPTaxScam Has Benefited Most Americans, Republicans Unveil Plan to Double Down on Corporate Tax Cuts

3yrs ago from Common Dreams
"The new line from Republicans in Congress is that Americans are 'better off' because of last year's tax cut, so we have to extend it. Well, some Americans are better off—people like me who are wealthy enough to not need work—but most Americans are still struggling."
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Trevor Noah Grills Alexandria Ocasio-Cortez: 'How Do You Pay for All These Ideas?'

3yrs ago from The Week
Rising political star Alexandria Ocasio-Cortez has received both criticism and praise for embracing the label of "democratic socialist." But The Daily Show's Trevor Noah pointed out that many Americans don't fully understand the platform, with vocal critics expressing doubt that the U.S. could pay for things like Medicare for all and socialized housing. Ocasio-Cortez won the Democratic primary for New York's 14th congressional district last month, toppling incumbent Rep. Joe Crowley. "Those ideas, I think most people would agree on, especially if they don’t know the label that they are attached to, you know?" said Noah after the two discussed the stigma behind the word "socialism." But at the same time, he said, "how do you pay for these? You always see people coming in with economic arguments, and they say, 'look, these numbers don’t really add up.'" Ocasio-Cortez called it an "excellent, excellent question," and argued that higher taxes on corporations would help generate the funds, as well as getting wealthy individuals to "pay their fair share" and closing financial loopholes. That would generate "two trillion dollars in ten years," toward the estimated 3 or 4 trillion it would cost to shift to universal healthcare, she said. Watch Noah press her further below, via Comedy Central. Summer Meza
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Four Blue States Sue Trump Administration Over Tax Deduction Cap

3yrs ago from The Blaze
Led by New York, four states sued the Trump administration on Tuesday in an effort to fight the cap on federal deductions for state and local taxes implemented as part of last year's GOP tax overhaul. What are the details? In the lawsuit, Connecticut, Maryland and New Jersey joined the Empire State in claiming that the $10,000 limit on SALT deductions — a limit which is only imposed on those who earn more than $150,000 per year — was designed to harm blue states. The plaintiffs are calling the new cap unconstitutional. New York Gov. Andrew Cuomo (D) told reporters, "The federal government is hell-bent on using New York as a piggy bank to pay for corporate tax cuts and I will not stand for it," adding, "This is their political attempt to hurt Democratic states. It's totally repugnant." Reuters reported that according to the Tax Policy Center, the average New Yorker claimed a …
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Meet the Republicans Who Want ‘Tax Reform 2.0’ as Russia Controversy Rages On

3yrs ago from Raw Story
On Tuesday, as the controversy continued to rage over President Donald Trump’s meeting with Russian President Vladimir Putin, some Republicans are going back to business as usual: pushing forth tax reforms most likely to benefit corporate interests and the wealthy. According to the White House pool report, President Trump is slated to meet with Republican members of Congress today to discuss “tax reform 2.0.” The President plans to meet with the following congresspeople, many of …
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