As the nation struggles with a stagnant economy, President Barack Obama has preached overhauling the U.S. tax code to spur economic growth. But as he gears up for what looks to be a tough reelection campaign, the president has surrounded himself with the current loophole-riddled system's prime offenders: corporate executives whose companies have profited off of those loopholes while reaping millions for themselves.Again, this is from the not-quite-right-wing Huffington Post.
Institute for Policy Studies, a liberal think tank, named in a new report 25 major American corporations whose CEOs were paid more last year than their firm's total U.S. income tax bill. Of those business elites, 10 have substantive ties to Obama -- including some who have official economic policy advisory positions in his administration -- according to a HuffPost analysis of the report.
Sunday, September 04, 2011
Not All Millionaires Make Too Much
Crony capitalism is not evidence of a free market, but of further government distortions in the market: