Tuesday, November 30, 2010

Who Benefits?

Now, that we have established that the richest of the nation do NOT deserve nor need a tax break, just how much will they personally benefit if the top tax rate is left artificially LOW?

Here are a very few representatives of this particularly blest group, i.e., the top 2% of this country:

Rupert Murdoch, the CEO of News Corporation, whose donation of $1 million to the U.S. Chamber of Commerce led to well-publicized shareholder outrage, would pocket more than $1.3 million.

Don Blankenship, a former U.S. Chamber Board member and the CEO of Massey Energy, whose company owned the mine in which twenty-nine miners died in April 2010’s mining disaster, the worst in forty years, would take home more than $700,000.

David Cote, the CEO of Honeywell and a member of the National Fiscal Commission, who keynoted an address to the National Chamber Foundation expressing concern about the national debt over the next ten years, would get a tax cut of over $1.2 million.

CEOs of big banks on Wall Street, who helped collapse the economy and then used the U.S. Chamber to fight stronger financial regulations, stand to reap between $700,000 and $1.6 million EACH.

The CEOs of the health insurance industry, whose industry saw an overall increase in profits this year even while they slashed benefits and instituted breathtaking premium increases, are looking to personally benefit from another hit on the middle class by taking in between $335,000 and $875,000. [Pictured: Angela F. Braly, CEO of Wellpoint]

U.S. Chamber President and CEO, Thomas Donohue, who has shifted the Chamber’s mission from serving mainstream business to serving the interests of the CEOs whose corporations write the biggest checks, will personally gain over $200,000. >(All emphasis mine.) [from U.S. Chamber Watch]

While this is really nice for these folks, do you or anyone you know, make (that is, earn) anywhere near what these people are going to save (not pay, but save) in taxes?

I am not much of a betting woman, BUT, I will give you really good, nay terrific, odds that none of these folks or any of the other plutocrats who are going to get another gift of YOUR money, need it as much as you do.


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