Archive for February, 2009

Highly Paid CEO Says Raise His Taxes

Sunday, February 15th, 2009

There has been a lot of frustration over the massive amount of pay, bonuses and luxuries given to the executives at failing banks which together received hundreds of billions of dollars from the U.S. government. Indeed, it leaves us asking why rich people get bailout money to pay for private jets and unnecessarily lavish Superbowl […]

Richest Americans’ Income Doubled, Tax Rate Decreased

Sunday, February 1st, 2009

According to recent IRS data, from 2000 to 2006 the income of the 400 richest Americans doubled, but their tax rate fell by a third to only 17.2 percent.
The drop in the tax rate for the richest Americans is due mainly to ex-President Bush’s push to lower the capital gains tax to 15 percent in […]