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" ….an easy to understand taxation system such as 9-9-9 allows government to focus on thwarting giant lizard attacks, rather than be buried by overly complex financial systems. "


(Source: The Huffington Post, via )


“We have no evidence that C.E.O.’s are fashioning, with their executive leadership, more effective and efficient enterprises,” the study concluded. “On the other hand, ample evidence suggests that C.E.O.’s and their corporations are expending considerably more energy on avoiding taxes than perhaps ever before — at a time when the federal government desperately needs more revenue to maintain basic services for the American people.”

Verizon, which earned $11.9 billion in pretax United States profits, received a federal tax refund of $705 million. The company’s chief executive, Ivan Seidenberg, meanwhile, received $18.1 million in compensation. The online retailer eBay reported pretax profits of $848 million and received a $113 million federal refund. John Donahoe, eBay’s chief executive, collected a compensation package worth $12.4 million, the study said.



- Many US corporations pay their CEO’s more than they pay in taxes (NYT)

Trickle up economics makes the world go ‘round.

(via morninggloria)

Verizon, who’s pitching a fit worthy of the most hyperactive and poorly-raised 2-year-old over paying most of its workers decent benefits, is on this list.

(Related dirty fucking hippie idea of the day to fix the economy: why don’t we outsource CEOs? I’m convinced most of them are not Steve Jobs-like in their ability anyway, and wouldn’t it be more democratic and in the spirit of “free market competition” glibertarians love so well if no one person were in charge of a company anyway?)

(via shorterexcerpts)

"It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

—Adam Smith

(image via letterstomycountry)

The financial disclosure report [Rep. Paul] Ryan filed with Congress last month and made public this week shows he and his wife, Janna, own stakes in four family companies that lease land in Texas and Oklahoma to the very energy companies that benefit from the tax subsidies in Ryan’s budget plan.

Ryan’s father-in-law, Daniel Little, who runs the companies, told Newsweek and The Daily Beast that the family companies are currently leasing the land for mining and drilling to energy giants such as Chesapeake Energy, Devon, and XTO Energy, a recently acquired subsidiary of ExxonMobil.

Some of these firms would be eligible for portions of the $45 billion in energy tax breaks and subsidies over 10 years protected in the Wisconsin lawmaker’s proposed budget.”

Exclusive: Ryan’s Shrewd Budget Payday

via pantslessprogressive

(via pantslessprogressive)


That was the effective tax rate paid by the 400 Americans with the highest adjusted gross income in 2007, the most recent year with IRS data available. The figure is down from almost 30 percent in 2005. All in all, this April 15 could be the best tax day for the wealthy since the early 1930s - with top rates on ordinary income, capital gains, dividends, estates and gifts at or near historic lows.

(Source: azspot)