May 25, 2012
Volume 1., Issue 232
Closing Corporate Tax Loopholes Could Cut Budget Deficit by $6 Billion
According to a new report from the California Tax Reform Association, ending some of the state’s most ineffective and wasteful corporate tax loopholes and dodges would add an extra $6 billion in sorely-needed revenue to California’s cash-strapped budget.
“If California had a normal government, billions in loopholes would be closed,” said report author Lenny Goldberg. “There is overwhelming public support for closing loopholes before cutting vital programs. Hopefully the Republicans will listen to the will of the majority of Californians and end these abuses in the tax system before harming schools and services.”
Learn more and read the report.
Top CEO Earns More in One Hour Than Average Worker Earns in One Year
An eye-opening new analysis from the Associated Press has found that the average CEO pay is up to $9.6 million a year, and a worker making the national average salary would have to work 244 years to make the median CEO salary.
The Associate Press also took a close look at one of America’s richest CEOs, David Simon, the owner of the Simon shopping mall chain, who rakes in a staggering $137 million a year. The study found that the minimum-wage workers in his malls would have to work for 9,096 years to earn what he earns in just one year. In fact, Simon earns more in one hour ($43,964) than the average worker earns in an entire year ($39,312).
Take Action: Get Out the Vote From Home and Support San Diego Working Families
San Diegans are heading into the final stretch of an important mayoral race and are working hard to make sure voters know about the extreme ideas that corporate-funded mayoral candidate Carl DeMaio supports that would hurt working families while only helping his deep-pocketed corporate donors.
Now, you can help even if you’re not in San Diego by signing up for the AFL-CIO’s great, free new online tool called the Friends and Neighbors (FAN) program. The FAN will allow you to connect with San Diego voters on Facebook, send messages and even phone San Diego voters from your own home.
Learn more and sign up for the FAN.
This Week on “Labor’s Edge”
AFSCME’s Jon Melegrito celebrated the landmark agreement for 1,800 San Diego city workers.
We exposed the truth behind the deceptive Special Exemptions Act set to appear on the November ballot.
Dr. David Michaels of the US Department of Labor explained how OSHA regulations protect both workers and jobs.
AFL-CIO’s Mike Hall detailed the outrageous and offensive tirade former Sen. Alan Simpson launched against California seniors.
We shared the new California Tax Reform Association report on the billions that could be saved by ending corporate tax loopholes.
Stacey Hendler Ross from the South Bay Labor Council reported on the latest news in the fight to raise the minimum wage in San Jose.
Andrea Nicholls of the LA County Federation of Labor announced that American Reclamation has been found guilty of 36 health and safety violations.
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