Take a load off Corbett, and you can put that load right on me.
PA governor Tom Corbett has vowed not to raise state taxes, to reduce spending, eliminate a deficit, turn water into wine, lower corporate taxes, layoff employees, and yet somehow increase the commonwealth's tax revenues. Changing water into wine might actually be the most doable of the group after the layoffs.
Many level-headed people have noted that reducing the number of individuals employed while also reducing corporate taxes is probably NOT going to lead to an increase in tax revenue. Just doing a simple bit of associative math, it seems more than probable such a policy would fail. Less People paying Taxes + Plus less Tax Revenue from Corporations= More Tax Revenue? I don't need to be an accountant to tell you that kind of math simply doesn't add up.
So now, for at least the second time in less than 7 days, another Western PA municipality is announcing their plan to raise property taxes in order to offset the cut in state aid to their school districts. So while Corporate Corbett may be right that he personally did not raise state taxes, these local hikes are a not too distant product of his slash and burn education budget.
The same schools that were good enough for his own two children to attend are now left to be the bad guy while he bathes in gas drilling money at the gubernatorial mansion.
Showing posts with label Jobs. Show all posts
Showing posts with label Jobs. Show all posts
Tuesday, May 10, 2011
Friday, May 6, 2011
AP IMPACT: CEO pay exceeds pre-recession level
CEO's are now making more then they where in 2007, the year before the Great Recession hit. Unemployment however is still double what it was back then. And that is not including those Working Class Americans who took actual paycuts or found lesser work to keep feeding and housing their families while the richest of the rich climbed their way back comfortably, right back into their fatcat seats.
Stories like this can just make you sick with rage. Remember things like this when we hear talk about how 'raising taxes on the rich will only hurt the economy.' After all the misguided harm these bastards have done, they are making more, and not paying one red cent more in taxes, while the rest of the Country SUFFERS for their mistakes.
By RACHEL BECK, AP Business Writer Rachel Beck, Ap Business Writer – Fri May 6, 8:36 am ET
NEW YORK – In the boardroom, it's as if the Great Recession never happened.
CEOs at the nation's largest companies were paid better last year than they were in 2007, when the economy was booming, the stock market set a record high and unemployment was roughly half what it is today.
The typical pay package for the head of a company in the Standard & Poor's 500 was $9 million in 2010, according to an analysis by The Associated Press using data provided by Equilar, an executive compensation research firm. That was 24 percent higher than a year earlier, reversing two years of declines.
Executives were showered with more pay of all types — salaries, bonuses, stock, options and perks. The biggest gains came in cash bonuses: Two-thirds of executives got a bigger one than they had in 2009, some more than three times as big.
CEOs were rewarded because corporate profits soared in 2010 as the economy gradually got stronger and companies continued to cut costs. Profit for the companies in the AP analysis rose 41 percent last year.
More Details and Breakdown are available here: http://news.yahoo.com/s/ap/us_ceo_pay
Stories like this can just make you sick with rage. Remember things like this when we hear talk about how 'raising taxes on the rich will only hurt the economy.' After all the misguided harm these bastards have done, they are making more, and not paying one red cent more in taxes, while the rest of the Country SUFFERS for their mistakes.
By RACHEL BECK, AP Business Writer Rachel Beck, Ap Business Writer – Fri May 6, 8:36 am ET
NEW YORK – In the boardroom, it's as if the Great Recession never happened.
CEOs at the nation's largest companies were paid better last year than they were in 2007, when the economy was booming, the stock market set a record high and unemployment was roughly half what it is today.
The typical pay package for the head of a company in the Standard & Poor's 500 was $9 million in 2010, according to an analysis by The Associated Press using data provided by Equilar, an executive compensation research firm. That was 24 percent higher than a year earlier, reversing two years of declines.
Executives were showered with more pay of all types — salaries, bonuses, stock, options and perks. The biggest gains came in cash bonuses: Two-thirds of executives got a bigger one than they had in 2009, some more than three times as big.
CEOs were rewarded because corporate profits soared in 2010 as the economy gradually got stronger and companies continued to cut costs. Profit for the companies in the AP analysis rose 41 percent last year.
More Details and Breakdown are available here: http://news.yahoo.com/s/ap/us_ceo_pay
Our Country faces record deficits and huge questions about its future ability to provide a comfortable, middle class life style to its working peoples. When are some of these Tea Party folk going to get around to realizing that Government is not the only problem in town, and that these pigs on Wall Street are just as liable for the unenviable situation the vox populi find themselves in?
How has the outrage that has been centered on Barrack Obama's plan to contain healthcare costs and provide better coverage options to all Americans overshadowed the overwhelming question of what are we going to do about the out of control excesses of the Corporate Classes? Where are people in the streets protesting such a blatant economic injustice?
Monday, April 11, 2011
Second Place Is the First Loser
Late last week, we learned that Pennsylvania has come in second nationally in something. However, this is not an achievement but a rather dubious distinction: PA ranks second amongst the 50 states in smog-producing pollution. Texas, naturally, was first.
Today, we learn that PA's new governor has a solution to this 2nd overall ranking and that solution is to hire C. Alan Walker to oversee expedition of permits to Marcellus Shale drillers. Mr. Walker, a coal mogul and hefty donor to Gov. Corbett's campaign, certainly has an interesting record with the environment. According to State Records, Court Documents, and Mr . Walker's own admissions, his companies have been responsible for polluting at least 15 water ways since the late 1970's. In regards to his new position, Mr. Walker holds that he will not attempt to override regulations or personally issue permits to potential drillers but his record obviously sings a different tune.
When asked for comment on Mr. Walker's environmental record, both Gov. Corbett and Mr. Walker had none. Color me shocked. After all, Gov. Corbett has never hidden the fact that he could care less about the environment, so why should anybody be surprised by this latest move? There is no plan in place to impose an excise tax on Marcellus Shale driller and the proposed job creation side of the spectrum is not as black and white as some may think.
In reality, natural gas drilling will certainly create jobs in PA. But will these jobs go to PA residents or will they simply go to outside contractors who will bring their own workers in temporarily, drill until there's nothing left, and leave the tax payers holding the bag on cleanup? It's happened before: http://www.post-gazette.com/pg/11065/1130058-503.stm. Range Resources makes it appear they are going to swoop in and save PA's economy with jobs but the reality is that hey are just bringing up workers from Texas, so how is that creating jobs for PA Residents?
Only 3 months into his tenure as Governor of PA, Tom Corbett's approval rating is falling. If he continues to give big salary jobs to his rich donors while cutting spending on education and eliminating other blue collar positions, it is going to hit a point where it can't get much lower.
Today, we learn that PA's new governor has a solution to this 2nd overall ranking and that solution is to hire C. Alan Walker to oversee expedition of permits to Marcellus Shale drillers. Mr. Walker, a coal mogul and hefty donor to Gov. Corbett's campaign, certainly has an interesting record with the environment. According to State Records, Court Documents, and Mr . Walker's own admissions, his companies have been responsible for polluting at least 15 water ways since the late 1970's. In regards to his new position, Mr. Walker holds that he will not attempt to override regulations or personally issue permits to potential drillers but his record obviously sings a different tune.
When asked for comment on Mr. Walker's environmental record, both Gov. Corbett and Mr. Walker had none. Color me shocked. After all, Gov. Corbett has never hidden the fact that he could care less about the environment, so why should anybody be surprised by this latest move? There is no plan in place to impose an excise tax on Marcellus Shale driller and the proposed job creation side of the spectrum is not as black and white as some may think.
In reality, natural gas drilling will certainly create jobs in PA. But will these jobs go to PA residents or will they simply go to outside contractors who will bring their own workers in temporarily, drill until there's nothing left, and leave the tax payers holding the bag on cleanup? It's happened before: http://www.post-gazette.com/pg/11065/1130058-503.stm. Range Resources makes it appear they are going to swoop in and save PA's economy with jobs but the reality is that hey are just bringing up workers from Texas, so how is that creating jobs for PA Residents?
Only 3 months into his tenure as Governor of PA, Tom Corbett's approval rating is falling. If he continues to give big salary jobs to his rich donors while cutting spending on education and eliminating other blue collar positions, it is going to hit a point where it can't get much lower.
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