Top Ten Videos to watch

HISTORY Brings 'Roots' Cast And Crew To The White House For Screening
Graduates tossing caps into the air
Freddie Gray Baltimore Protests
Mid section of man in graduation gown holding diploma
Legendary Baseball Player Tony Gwynn's Family Files A Lawsuit Against Big Tobacco
ME.jailhouse#2.0117.CW Montebello City Council has approved use of a private contractor to run the n
Chicago Mayor Rahm Emanuel Addresses Police Misconduct At Chicago City Council Meeting
WWII Soldiers Standing In A Flag Draped Sunset - SIlhouette
Students Taking a College Exam
Bill Cosby Preliminary Hearing
Hillary Clinton Campaigns In Louisville, Kentucky
Worried black businesswoman at desk
Tyler Perry And Soledad O'Brien Host Gala Honoring Bishop T.D. Jakes' 35 Years Of Ministry
Teacher with group of preschoolers sitting at table
FBI Officials Discuss Apprehension Of Explosions Suspect After Three-Day Manhunt
NFC Championship - San Francisco 49ers v Atlanta Falcons
Protests Erupt In Chicago After Video Of Police Shooting Of Teen Is Released
Nine Dead After Church Shooting In Charleston
Portrait of senior African woman holding money
President Bush Speals At Federalist Society's Gala
Police Line Tape
Senior Woman's Hands
Police officers running
New Orleans Residents Return to Housing Projects
David Banner
Leave a comment

bush tax cuts obamaOne of the more hotly contested items during the election cycle is the impending end of the infamous Bush Tax Cuts.” It is a tax code that is the centerpiece of a longstanding Republican-Democrat debate – and the issue threatens to shift the tides of the Presidential race in favor of the candidate who can best spin it to their advantage.

Want to Keep Up With LIKE Us On Facebook!

Naturally, Republicans oppose an end to the tax cuts while President Barack Obama has said repeatedly he would veto any extension of the cuts to salaries over $250,000. Fat cat CEOs are certainly watching this closely as 57 executives saved quite a bit of coin as a result of the cuts, according to a report from the Institute for Policy Studies (IPS).

For IPS’s 19th annual “Executive Excess” report, it highlighted that 57 of the 100 top CEOs benefited by saving millions dollars each with the help of the Bush-era tax code. The top-winner of the tax cut sweepstakes is James Mulva of ConocoPhillips, who saved a whopping $6.7 million dollars (this after cashing in $140 million dollars of stock options in 2011 in his last year as the company’s top man).

Leslie Moonves of CBS, Richard Adkerson of Freeport-McMoRan Copper & Gold, Jeffrey Boyd of Priceline and Ronald Johnson of JC Penny all round out the top five CEOs who saved the most. And those savings don’t count towards the additional income from outside sources and investments, which also number into the millions.

The distance between CEO pay and the average worker has been growing to staggering levels for decades. It has been stated by economists and critics of the Bush cuts that this has greatly hampered the earning potential for lower-tiered workers, as reported by Think Progress who said that it would take the typical American worker 244 years to earn what some CEOs make in one year.

With November looming ahead, workers and CEOs alike are most certainly paying close attention to the political machinations behind the scenes.

Also On News One: