Friday 13 February 2009

of corporate executives overpaid, undertaxed

Corporate executives overpaid, undertaxed: In today's mad world, underpaid workers are bailing out banks and corporations run by overpaid, undertaxed bosses who milked their companies and our country like cash cows.
Average full-time workers made $41,198 in 1973 and $37,606 in 2008, adjusted for inflation.

CEOs made 45 times as much as workers in 1973 and more than 300 times as much as workers now. The top tax rate was 70 percent in 1973 and just 35 percent now; taxpayers pay the top rate on the portion of taxable income that falls within the highest bracket and pay lower rates on income below that. The top rate for capital gains on the sale of stock and other assets was 36.5 percent in 1973 and 15 percent now.

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