Scotties Toy Box

April 22, 2014

Top Economist Sizes Up Income Inequality in America, Has a Dire Prediction for Our Future – PolicyMic

Filed under: News — Scottie @ 14:12

Top Economist Sizes Up Income Inequality in America, Has a Dire Prediction for Our Future – PolicyMic.

Conservatives playing the “victim card” again…. – Liberals Are Cool

Filed under: News — Scottie @ 13:33

Conservatives playing the “victim card” again…. – Liberals Are Cool.

Conservatives playing the “victim card” again. Check off all the prerequisites: wealthy, white, and male.

Conservatives playing the “victim card” again. Check off all the prerequisites: wealthy, white, and male.

one of the greatest truths and worst thing to happen…the greatest coup of the right

Filed under: News — Scottie @ 13:27

Liberals Are Cool: Photo.  http://liberalsarecool.com/image/83246386750

Conservative business school. – Liberals Are Cool

Filed under: News, opinion — Scottie @ 13:17

Gods I can’t believe how much good stuff I am finding here today, I can spend all day reading these post.  Hugs

Conservative business school. – Liberals Are Cool.

Conservative business school.

Conservative business school.

Tea Klan: take ownership of your ignorance and… – Liberals Are Cool

Filed under: News — Scottie @ 13:04

Tea Klan: take ownership of your ignorance and… – Liberals Are Cool.

Tea Klan: take ownership of your ignorance and failed narratives.

Tea Klan: take ownership of your ignorance and failed narratives.

Everyone knows the rich receive special treatment… – Liberals Are Cool

Filed under: News — Scottie @ 13:01

Everyone knows the rich receive special treatment… – Liberals Are Cool.

Everyone knows the rich receive special treatment in this country, especially in court. But Taibbi concludes that the government now offers a sliding scale of civil and criminal protection to U.S. residents. At one end of the spectrum, the very rich are virtually beyond accountability, no matter how massive and destructive their crimes may be. At the other end, the nation’s most vulnerable residents face unremitting investigation and prosecution by bureaucracies determined to find them guilty of something.

Peter Richardson: The Divide (via azspot)

(via mamaatheist)

questionall: n 2012, Bank of America operated… – Liberals Are Cool

Filed under: News — Scottie @ 12:59

questionall: n 2012, Bank of America operated… – Liberals Are Cool.

questionall:</p>
<p>n 2012, Bank of America operated more than 300 subsidiaries incorporated in offshore tax havens like the Cayman Islands, which has no corporate taxes. Read about Sen. Sander’ budget plan to stop the use of offshore tax havens here: http://www.sanders.senate.gov/budget/” /></a></p>
<p style=questionall:

n 2012, Bank of America operated more than 300 subsidiaries incorporated in offshore tax havens like the Cayman Islands, which has no corporate taxes. Read about Sen. Sander’ budget plan to stop the use of offshore tax havens here:http://www.sanders.senate.gov/budget/

Robert Reich (Raising Taxes on Corporations that Pay Their CEOs Royally and Treat Their Workers Like Serfs)

Filed under: News, opinion — Scottie @ 12:55

Robert Reich (Raising Taxes on Corporations that Pay Their CEOs Royally and Treat Their Workers Like Serfs).

Raising Taxes on Corporations that Pay Their CEOs Royally and Treat Their Workers Like Serfs


MONDAY, APRIL 21, 2014

Until the 1980s, corporate CEOs were paid, on average, 30 times what their typical worker was paid. Since then, CEO pay has skyrocketed to 280 times the pay of a typical worker; in big companies, to 354 times.

Meanwhile, over the same thirty-year time span the median American worker has seen no pay increase at all, adjusted for inflation. Even though the pay of male workers continues to outpace that of females, the typical male worker between the ages of 25 and 44 peaked in 1973 and has been dropping ever since. Since 2000, wages of the median male worker across all age brackets has dropped 10 percent, after inflation.

This growing divergence between CEO pay and that of the typical American worker isn’t just wildly unfair. It’s also bad for the economy. It means most workers these days lack the purchasing power to buy what the economy is capable of producing — contributing to the slowest recovery on record. Meanwhile, CEOs and other top executives use their fortunes to fuel speculative booms followed by busts.

Anyone who believes CEOs deserve this astronomical pay hasn’t been paying attention. The entire stock market has risen to record highs. Most CEOs have done little more than ride the wave.

There’s no easy answer for reversing this trend, but this week I’ll be testifying in favor of a bill introduced in the California legislature that at least creates the right incentives. Other states would do well to take a close look.

The proposed legislation, SB 1372, sets corporate taxes according to the ratio of CEO pay to the pay of the company’s typical worker. Corporations with low pay ratios get a tax break.Those with high ratios get a tax increase.

For example, if the CEO makes 100 times the median worker in the company, the company’s tax rate drops from the current 8.8 percent down to 8 percent. If the CEO makes 25 times the pay of the typical worker, the tax rate goes down to 7 percent.

On the other hand, corporations with big disparities face higher taxes. If the CEO makes 200 times the typical employee, the tax rate goes to 9.5 percent; 400 times, to 13 percent.

The California Chamber of Commerce has dubbed this bill a “job killer,” but the reality is the opposite. CEOs don’t create jobs.Their customers create jobs by buying more of what their companies have to sell — giving the companies cause to expand and hire.

So pushing companies to put less money into the hands of their CEOs and more into the hands of average employees creates more buying power among people who will buy, and therefore more jobs.

The other argument against the bill is it’s too complicated. Wrong again. The Dodd-Frank Act already requires companies to publish the ratios of CEO pay to the pay of the company’s median worker (the Securities and Exchange Commission is now weighing a proposal to implement this). So the California bill doesn’t require companies to do anything more than they’ll have to do under federal law. And the tax brackets in the bill are wide enough to make the computation easy.

What about CEO’s gaming the system? Can’t they simply eliminate low-paying jobs by subcontracting them to another company – thereby avoiding large pay disparities while keeping their own compensation in the stratosphere?

No. The proposed law controls for that. Corporations that begin subcontracting more of their low-paying jobs will have to pay a higher tax.

For the last thirty years, almost all the incentives operating on companies have been to lower the pay of their workers while increasing the pay of their CEOs and other top executives. It’s about time some incentives were applied in the other direction.

The law isn’t perfect, but it’s a start. That the largest state in America is seriously considering it tells you something about how top heavy American business has become, and why it’s time to do something serious about it.

Bundy vs. the Minimum wage – Liberals Are Cool

Filed under: News, Political — Scottie @ 12:53

Bundy vs. the Minimum wage – Liberals Are Cool.

Bundy vs. the Minimum wage

gwydionmisha:

I see Republicans are out lauding a wealthy white tax cheat as “a real patriot” while out the other side of their mouth labeling the working poor who pay a forth of their income in taxes as “takers” not deserving of a living wage or health coverage.

 

(via mommapolitico)

Gun culture in America: people with guns looking… – Liberals Are Cool

Filed under: News — Scottie @ 12:52

Gun culture in America: people with guns looking… – Liberals Are Cool.

Gun culture in America: people with guns looking for trouble while not respecting the rights of others and bolstering confrontational lawlessness.Scofflaws do not need snipers as backup. Campus security should not be attacking peaceful students on their own campus.

Gun culture in America: people with guns looking for trouble while not respecting the rights of others and bolstering confrontational lawlessness.

Scofflaws do not need snipers as backup. Campus security should not be attacking peaceful students on their own campus.

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