Thursday, August 01, 2002
ONE MORE FOR THE POLITICAL CIRCULAR FILE
Like That Will Ever Happen
Here’s a go-nowhere idea from Pat M. Holt in today’s Christian Science Monitor: “Rein In the Pay of America’s CEOs.”
“Congress could . . . [change] the tax code to provide that no part of the compensation paid to any employee exceeding, say, $1 million a year, can be treated as a business expense and thereby qualify as tax deductible,” Holt writes. “This would not prevent a company from paying an executive more than $1 million; but if it did so, the excess over a million would come from profits and not operating expenses.”
It would appear that Holt, former chief of staff of the Senate Foreign Relations Committee, was either asleep or on the moon during last year’s debate over the Bush administration’s tax cut, the main purpose of which was to make life even easier for wealthy executives.
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JAMES MARTIN CAPOZZOLA
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James Martin (Jim) Capozzola launched The Rittenhouse Review in April 2002, TRR: The Lighter Side of Rittenhouse, HorowitzWatch, and Smarter Andrew Sullivan in July 2002, and Bulldogs for Kerry-Edwards in October 2004. He is also a contributing member of President Boxer.
He received the 2002 Koufax Award for Best Post> for "Al Gore and the Alpha Girls" (published November 25, 2002). Capozzola's record in the Koufax Awards includes two additional nominations for 2002 (Best Blog and Best Writing), three nominations for 2003 (Best Blog, Best Series, and Best Writing), and two finalist nominations in 2004 (Best Blog and Best Writing).
Capozzola’s experience beyond the blogosphere includes a lengthy career in financial journalism, securities analysis, and investment research, and in freelance writing, editing, ghost-writing, and writing instruction.
He earned his bachelor's degree in political science from the University at Albany and a master's in foreign affairs from the University of Virginia.
Capozzola lives in Philadelphia with his bulldog, Mildred.
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