We got into this mess because of distortions with the tax code and we need to examine them closely and change them to get out of it. It's not possible to have a viable middle class when corporate America keeps showering the select few with everything. What's unfortunate is that while we may hear some noise about this in Washington, neither party has shown much interest in getting serious about helping the middle class. Why does corporate America hate America?
Twenty-five of the 100 highest paid U.S. CEOs earned more last year than their companies paid in federal income tax, a pay study said on Wednesday. It also found many of the companies spent more on lobbying than they did on taxes.
At a time when lawmakers are facing tough choices in a quest to slash the national debt, the report from the Institute for Policy Studies (IPS), a left-leaning Washington think tank, quickly hit a nerve.
After reading it, Democratic Representative Elijah Cummings, ranking member of the Committee on Oversight and Government Reform, called for hearings on executive compensation.
