Skip to main content

View Diary: Former CEO says his own pay 'even seems ludicrous to me' (53 comments)

Comment Preferences

  •  so he is donating his salary to charity (0+ / 0-)

    or giving his stocks to charity? unless he does something I really do not think he can have any standing on this issue.

    •  He will be paying the full federal marginal rate (4+ / 0-)

      of 39.6%, plus his Ohio state income tax, and I imagine the rest will go into his personal investment account and a college account for his kids and the next generation.

      "let's talk about that" uid 92953

      by VClib on Wed Aug 27, 2014 at 11:06:49 AM PDT

      [ Parent ]

      •  Hmmm... (2+ / 0-)
        Recommended by:
        OleHippieChick, JeffW
        He will be paying the full federal marginal rate of 39.6%,
        Where do you see this?

        Is he not taking any deductions ? No home mortgage interest? No charitable giving deduction? Maybe some capital gains? Business expenses? Maybe some cool alternate energy credits? Not deducting those kids of his?

        Not even the standard deduction ?

        Because (as you and I both know) all those drop his tax liability to his effective tax rate, so he's not paying the marginal rate.

        If Dillon is really going to  simply file his taxes waiving his right to all deductions and credits he's allowed  and paying the 39.6% rate as you say,  this guy is my new hero.

        But I think I'll need a bit of evidence.

        © grover


        So if you get hit by a bus tonight, would you be satisfied with how you spent today, your last day on earth? Live like tomorrow is never guaranteed, because it's not. -- Me.

        by grover on Wed Aug 27, 2014 at 12:19:48 PM PDT

        [ Parent ]

        •  grover - because of the magnitude nearly (2+ / 0-)
          Recommended by:
          doc2, coffeetalk

          all the compensation will be at the top marginal rate. The only thing that can bring it down significantly is a very large charitable gift. The mortgage interest deduction is capped at around $50,000, he can deduct his state taxes, and any charitable gifts, but those are the big ones. That's not going to change it by much. The only good news about excessive executive compensation is that it is all taxed as W2 income, even the gains on option grants, so the big earners pay a large sum in income taxes, although most here think it should be a lot more.

          "let's talk about that" uid 92953

          by VClib on Wed Aug 27, 2014 at 02:54:41 PM PDT

          [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site