tag:blogger.com,1999:blog-7895164153505105997.post3524482827239190095..comments2024-01-17T00:45:37.075-08:00Comments on Bud Meyers: Study: Tax Cuts for Dividends doesn't Help EconomyBud Meyershttp://www.blogger.com/profile/02065020063363023395noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7895164153505105997.post-57170616295702273082015-07-18T13:44:31.354-07:002015-07-18T13:44:31.354-07:00New York Times:
As America industrialized in the ...New York Times:<br /><br />As America industrialized in the late 19th century, the economy became dominated by big corporations. The economic boom after World War II solidified the view that regular increases in fixed wages and benefits could carry the burden of “sharing the wealth.” Sadly, since the 1970s, wages have stagnated.<br /><br />The stagnation of earnings for most Americans, despite rising productivity, and the shrinkage of the middle class, because of soaring inequality, are without precedent in our economic history. Capital’s share of national income has risen, while labor’s share has fallen — even though it includes lavish compensation of executives who are paid disproportionately through stock grants, options and bonuses.<br /><br />We need to reform a little-known tax loophole, Section 162(m), of the Internal Revenue Code. In the early 1990s, in an attempt to reform executive pay, Congress changed that section to limit corporate income tax deductions to $1 million for the top five executive salaries, but allowed virtually unlimited deductions for a variety of top-executive performance-based pay, including equity and profit-sharing. Corporations, which have exploited this loophole to offer lavish compensation packages, should get these deductions only if they offer a profit-sharing or share-ownership plan to all employees. <br /><br />We favor only ownership policies that emphasize grants of stock (as in the case of employee stock-ownership plans), restricted stock (which has to be held on to for a certain period of time, incentivizing workers to stay) or stock options.<br /><br />http://www.nytimes.com/2015/07/18/opinion/capitalism-for-the-rest-of-us.html<br />Bud Meyershttps://www.blogger.com/profile/02065020063363023395noreply@blogger.comtag:blogger.com,1999:blog-7895164153505105997.post-13835615934137496422015-07-18T13:02:11.070-07:002015-07-18T13:02:11.070-07:00I don't know about you Bud, but i've been ...I don't know about you Bud, but i've been waiting for 30+ years for the wealth to trickle down ... when i can buy my yacht...<br /><br />unfortunately i think they're stepping on my poor headallenhttps://www.blogger.com/profile/06840237717017411534noreply@blogger.com