I know, even before soaking Citigroup we had put the hypothetical taxation screws to lots of banks – but it’s vital that banks pay their fair share to the federal government! As Fannie Mae and Freddie Mac remind us, private industry’s overflowing corruption mars the perfection of government lenders.
Plus, there’s still the matter of a $1.62 trillion U.S. deficit for Fiscal 2011, and soaking the rich is Senator Sherrod Brown (D-OH) and President Obama’s centrist answer for these sort of minor budgetary troubles!
Now Soaking: Morgan Stanley
- Reuters lists Morgan Stanley CEO James Gorman’s compensation as $15,185,700. Gorman has been a banking executive since 1999, so he’s got enough money. His $15,185,700 will be much better spent by Sherrod Brown and Barack Obama!
- Morgan Stanley’s 2010 income statement lists $739,000,000 in corporate income taxes. We’ll take that much extra to help fund the magical Obama/Brown rebound!
- Doubling Morgan Stanley’s corporate income tax and taking their CEO’s pay will reduce the 2011 U.S. budget deficit by 0.047%.
None of Morgan Stanley’s 62,542 employees will lose their jobs if Sherrod Brown and Barack Obama have their way. The only funds & individuals holding Morgan Stanley’s 1.93 billion outstanding shares of stock who suffer will be the ones who deserve to.
Don’t worry: this punitive tax policy won’t increase the cost of checking, savings, or credit accounts… and even if it did, that would help Americans learn that only the federal government can be trusted! Once again, Sherrod succeeds where the free market fails.
We, The People who support Sherrod Brown’s fiscal policies, hold these leftist conceits to be self-evident.