Twenty leading U.S. banks collectively paid their top five executives $2 billion in tax-deductible bonuses between 2012 and 2015, according to a recent report examining Wall Street CEO pay.
That $2 billion figure works out to be a tax break valued at $725 million, or $1.7 million per executive per year, the Institute for Policy Studies (IPS), a progressive think tank, found.
“Taxpayers should not have to subsidize excessive CEO bonuses at any corporation,” report co-author and IPS Global Economy Project Director Sarah Anderson said in a statement. “But such subsidies are particularly troubling when they prop up a pay system that encourages the reckless behavior which caused one devastating national crisis — and could cause more in the future.”
Members of Fair Economy Illinois took aim at corporate “tax dodgers” during a Monday afternoon protest outside Exelon’s Chicago offices. Activists danced the Electric Slide in the street, and 10 protesters were ultimately arrested after they sat down in a downtown intersection and refused to move.
Controversy over former Illinois congressman Joe Walsh’s incendiary tweets posted last Thursday after the deadly sniper attack on Dallas police officers has spilled over into the state’s 66th House District race.
The Democrat in the race, Nancy Zettler, is calling on her Republican opponent, Allen Skillicorn, to disavow Walsh’s “hate-filled statements.”
Walsh has faced backlash for a now-deleted tweet that threatened “war” on President Barack Obama and the Black Lives Matter movement.
As the long-running state budget impasse continues in its eleventh month, activists with Fair Economy Illinois are set to unveil their “People and Planet First Budget” blueprint during a downtown Chicago protest Monday.
CTU President Karen Lewis had some choice words Wednesday for Gov. Bruce Rauner over his handling of the state budget. She also rejected the school district’s request to move contract talks into binding arbitration.