You Pay Your Fair Share. Shouldn’t Wall Street?

You Pay Your Fair Share. Shouldn’t Wall Street?

Did you pay all of your taxes this April? Wall Street banks typically pay much less than the official 35 percent corporate tax rate. And yet after attacking Hillary Clinton for her ties to Wall Street, President Donald Trump is pushing reforms that would make it even...
Four Wall Street Bonus Charts That May Make You Scream

Four Wall Street Bonus Charts That May Make You Scream

Every year, the New York Comptroller releases a big number representing the combined value of the bonuses Wall Street banks have doled out to their employees. The state government keeps track of these payouts because a really big number boosts their local tax base....
Report: The Wall Street Bonus Pool and Low Wage Workers

Report: The Wall Street Bonus Pool and Low Wage Workers

 Wall Street banks handed out $23.9 billion in bonuses to their New York City-based employees last year, according to new figures from the New York State Comptroller. To put these figures in perspective, we’ve compared the Wall Street payout to low-wage workers’...
Wall Street Hopes You’ve Forgotten the Crash Already

Wall Street Hopes You’ve Forgotten the Crash Already

Remember October 2008 — the bank bailouts, the spiking unemployment rate, the stock market free fall? Maybe you lost a job, got a pay cut, or saw your retirement savings or home value evaporate. Maybe you even lost your home altogether, or saw your small business...
This Trump Appointee Says He’s Standing Up for ‘Bullied’ CEOs

This Trump Appointee Says He’s Standing Up for ‘Bullied’ CEOs

Michael Piwowar has been seething for some time. Now he’s getting to take his revenge — against the new federal regulation that’s driving America’s mega-millionaire CEOs crazy. This particular regulation spells out how corporations must go about complying with an...
To Save Main Street, Tax Wall Street

To Save Main Street, Tax Wall Street

All too often these days, large U.S. corporations and Wall Street banks seem more interested in tapping overseas markets than in growing a customer base at home. When local communities in America’s heartland suffer, it’s no skin off their backs. By contrast, our...
America’s Construction Carnage

America’s Construction Carnage

Try this the next time you find yourself standing on a Wall Street corner. Ask the first power suit you see why Wall Street’s finest deserve to be making $25 billion in bonuses a year. Wall Streeters actually have a ready response for impertinent questions like this:...
Who Voted for Wall Street?

Who Voted for Wall Street?

During the campaign, Donald Trump said he wanted to fix our rigged economic system. And we can’t do that, he said, by counting on the people who rigged it in the first place. He talked a big game about Wall Street and the big banks. He repeatedly called out Goldman...
Why 2016 May See a Record Top 1%

Why 2016 May See a Record Top 1%

How much income do you want to report next spring on your 2016 tax return? For most of us, that question rates as downright silly. We don’t get to choose how much income we report on our tax returns. The vast bulk of our annual income comes from our paychecks. We just...
Our Society is Unequal By Design

Our Society is Unequal By Design

The rising inequality we’ve seen in recent decades did not happen by accident. It was the result of deliberate public policy decisions and, fortunately, can also be reversed by making different decisions. That’s the contention of Dean Baker’s just-released book,...
Swing Voters Want Wall Street Reform

Swing Voters Want Wall Street Reform

The word “Wall Street” was uttered only once in the final presidential debate — by Donald Trump when he complained about who he thought was funding TV ads against him. And yet Wall Street is clearly on the minds of many voters. A recent poll of likely voters in four...
Presidential Politicians Are All Bark, No Bite on CEO Pay

Presidential Politicians Are All Bark, No Bite on CEO Pay

Politicians love to beat up on overpaid CEOs. In the wake of the 2008 financial crash, Republican presidential candidate John McCain lashed out at executives of bailed-out banks, calling for their pay to be cut to the salary level of the President of the United...
The Failure of Bill Clinton’s CEO Pay Reform

The Failure of Bill Clinton’s CEO Pay Reform

President George H. W. Bush’s January 1992 trip to Tokyo will be forever remembered as the time he vomited in his Japanese host’s lap at a fancy banquet. What made many Americans more nauseated, though, was the stark contrast between the 12 over-paid American CEOs who...