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The "CEO performance pay tax break" is just hogwash. Businesses get to deduct their business expenses, period. Years ago the government took an even more liberal swing and decided to try to make (even more) social policy through the tax code by limiting the deduction for CEO compensation to $1 million unless the comp was tied to performance. This didn't create a loophole so that companies could pay their CEOs more than they already were paying them, it just changed the split of how companies had to pay their CEOs. Companies could pay their employees, CEOs included, whatever they wanted to pay them before the new rule, and could continue to pay their employees whatever they wanted to pay them after the new rule. And, since payments to employees in exchange for services are business expenses, they are deductible.
This is like the misleading slogan during the 2012 election of "tax breaks for companies that send jobs overseas". Businesses get to deduct their business expenses, period. If you incur $10m in routine legal fees throughout the year, that's all deductible even if some of your lawyers' time was spent working on the contracts with the call center in India.
Decries high tuition, but doesn't address huge salaries.
So many in DC are in favor of spending more and more. They just do not realize how it is killing the economy (long term). It should be cyclical but the inflated gov spending has falsely held the economy above water... unfortunately when the cycle turns it will be a hard long fall.
The Congressional Budget Office will issue a projection on how much this bill would cost, but haven't at this point.
It'll take a few days.
Quote:
Originally Posted by fumbling
Elizabeth Warren has great ideas and isn't owned by banksters.
Yeah, like a $22/hour minimum wage. That will certainly make the US globally competitive against Indians earning $0.28/hour minimum wage (or Romanians earning $1.40/hour minimum wage).
Spending bills are supposed to originate in the House, so I don't see this going anywhere until there's a parallel bill introduced in the House. Too bad Warren doesn't understand how the Constitution works. Maybe she'll have an epiphany at the local tribal sweat lodge.
You don't understand. S/he is saying that the "lower classes" being able to spend its the only way that capitalism can be successful. They spend more and companies make more. It's called "capitalism" and won't work without those at the bottom being subsidized. "Government spending" often gets people off off "government assistance" and my family id living proof of that.
Want to give a quick shout out to the OP for interjecting politics into the retirement forum Way to go
Seems to be more the norm here recently.
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Way to go
