We're sorely missing the servant leadership of America's CEOs on matters of corporate taxation.
As Congress contemplates trillions in budget cuts that will worsen poverty and undermine the quality of life in America, consider these findings from a new report that I co-authored, "Massive CEO Rewards for Tax Dodging," by the Institute for Policy Studies.
Last year, the compensation of 25 CEOs at major profitable U.S. companies was larger than the entire amount their company paid in U.S. corporate taxes.
These 25 include the CEOs of Verizon, Boeing, Honeywell, General Electric, International Paper, Prudential, eBay, Bank of New York Mellon, Ford, Motorola, Qwest Communications, Dow Chemical, and Stanley Black and Decker.
I admit it: A few years back, when I first heard about the E-Verify program, I thought it sounded reasonable. The program was described to me as a way for employers to voluntarily verify the U.S. citizenship of their employees by cross-checking their information with the online databases of the Department of Homeland Security and the Social Security administration. I knew that there were flaws in the system, which sometimes misidentified workers as undocumented even when they were not. However, I thought, what employer doesn't deserve the right to check the employment eligibility of his or her workers?
Walmart has launched a charm offensive as part of its new urban strategy to impose smaller versions of its big box in inner cities across the country. It has proposed four stores for Washington, D.C. -- all in predominantly minority, and most in low-income, neighborhoods.
The debate over building Walmart stores in D.C. is engaging intense public sentiment, and for good reason. While Walmart promises new jobs in a community, in reality it displaces other local businesses, leaving in question whether there is a net jobs gain; one study showed that for every retail job Walmart brought, communities lost 1.4 other jobs. In addition, Walmart passes on the cost of its low wages to taxpayers when associates and their families rely on publicly funded health care and other assistance programs.
Joe Biden admitted last night on The Daily Show that the billions of dollars we've spent on big bank bailouts is "socialism for the rich, and capitalism for the poor." No kidding. There's been much consternation related to the bailout of Wall Street. And even though ...