AOC, Barbara Lee, and Sheldon Whitehouse do!
37% Thank W
Yes! This is excellent.
But a nice Republican told me that capitalism is good and limits on it make Jesus cry. And I know for a fact that Elon Musk wants to put frozen yogurt machines in his factory. So there. It’s like the old saying goes, “the wealth gap is filled with frozen yogurt.”
Most of these CEOs of huge corporations don’t do a whole lot more than public relations and inspiring speeches. It’s not like Tim Apple is burning the midnight oil coding or making sure the factories are working at peak efficiency.
Nuke 'em till they glow, economically. Eat the Rich.
It’s a good idea, but hopefully they don’t let republicans water it down and build in a bunch of loopholes, like in 1993 when congress tried to make executive salaries over $1 million non deductible. (That’s when stock options started to become popular, not coincidentally.)
But they have to pay CEOs enough that they feel like they live in a different world from the employees. Otherwise they might start caring about them.
The trickling down is actually *out* to shareholders in the form of stock buybacks. Today, on an economy-wide basis, ALL profits and sent into the stock market either had buybacks or dividends (though some cash-flow rich companies still invest profits, others borrow for buybacks so this is true in aggregate). This phenomenon is the cause of the capitalist crisis we have been in since around 2006, which is a repeat of the on we were in after the Panic of 1907 until WW II.
A more comprehensive approach to this argument is given here:
And how it came to pass that the system we had under Eisenhower evolved into the one we have today:
Gee, the CEO Act is introduced and the new Speaker of the House then introduces a bill, rolled into funding for a middle east war, that will inhibit the IRS's ability to collect taxes from said CEO's and others in the extra-wealthy category. Prolly just a mere coincidence.
One taunt the right-wing "intellectuals" like to throw at us is that, under Democracy, we have-nots can always gang up on the haves and vote ourselves unearned wealth. Aside from the fact that this hypothetical situation has never in human history been carried through to its logical conclusion, nobody who is not willfully blind can deny that the exact opposite distortion has been perpetrated on our socio-political order by the rich- they buy governments and judges, so rigging the system that they, and only they, can win, and we are supposed to be grateful for crumbs. After having through centuries of strife achieved some imperfect balance during the 1940s and 1950s, we are all over the world sliding back into the immemorial cruelty of hereditary classes, monarchy and aristocracy, here and there with a morbid tinge of theocracy to make it all even more stupid and indefensible.
LOL watch those conglomerates break up hella fast if they ever have to start paying 1% of their profits every year CEO pay exceeds the ratio.
When that last massive corporate tax cut went through, one of the ways it was pitched to TFG's followers was their lord and savior was giving the tax cut to the employers with the "understanding" the savings would be invested in the hourly whining little brat workers. I remember that part because my corporate overlord was straight up with how all the tax saving was going to help make the pretty people in corporate even more pretty. First up, a total gutting and remodel of HQ! I was not shocked, but my MAGA co-workers felt betrayed because the guy they voted for said the tax saving was supposed to trickle down to them! And it didn't!
Well this starts my weekend on an upbeat note!
"(One percent would add up quickly for these massive companies; one percent of Apple’s nearly $400 billion in gross receipts would be … some money!)"
“A billion here, a billion there, and pretty soon you're talking real money!"
But it's going to start trickling down any day now!