Halt corporate tax cuts, Liberals say

[Rwede]

I pay closer to 38%, and about 49% on my incremental bonus earnings.

stop it dickie - you're killing us here.

That's okay. You can sit all comfy in your $42,000 union job and fool yourself into thinking that no one could do better than you. We all know how smart you are, and that you make more than anyone else.

[steven lloyd]

ah dickie, now you're just embarrassing yourself. I'm so sad for you

[Bagotricks]

Mr. CEO made 2.23 billion last year, and your bill is going up 30% to pay for upgrades to his company.

Really? The CEO of Hydro made $2.23 billion in 2009?

Mr BG Elton, CEO actually made $549,923 in 2009, including all pension and benefit costs. His base salary is $328,900.

Actually, Hydro made $365 million in 2009, and $447 million in 2010, not $2.23 billion.

So they made 365 million. I spent the whole of 5 seconds looking it up. Why are they raising rates 30%, instead of "re-investing" it like you say all these companies do? They banked 365 million in a year. That's everyone paid, all debts paid. 365 million left over. We give them tax break to re-invest you say - but they are raising rates and pocketing the change...which is typical MO for most companies these days.

..or are you going to ignore the fact two times in a row, that your idea about "re-investment" is as phoney as the idea that giving huge tax breaks to the rich will benefit everyone in the end?

[NAB]

Top 20 Highest Paid Public-Sector Execs in B.C.

http://www.scribd.com/doc/34081596/Exec ... 20-For-Web

http://www.vancouversun.com/business/pu ... index.html

[Rwede]

Mr. CEO made 2.23 billion last year, and your bill is going up 30% to pay for upgrades to his company.

Really? The CEO of Hydro made $2.23 billion in 2009?

Mr BG Elton, CEO actually made $549,923 in 2009, including all pension and benefit costs. His base salary is $328,900.

Actually, Hydro made $365 million in 2009, and $447 million in 2010, not $2.23 billion.

So they made 365 million. I spent the whole of 5 seconds looking it up. Why are they raising rates 30%, instead of "re-investing" it like you say all these companies do? They banked 365 million in a year. That's everyone paid, all debts paid. 365 million left over. We give them tax break to re-invest you say - but they are raising rates and pocketing the change...which is typical MO for most companies these days.

..or are you going to ignore the fact two times in a row, that your idea about "re-investment" is as phoney as the idea that giving huge tax breaks to the rich will benefit everyone in the end?

$365 million won't go too far towards the upgrades that Hydro has to make to its infrastructure over the next decade, but it will help that they are profitable and not in an ugly deficit position. The current grid was largely built in the 1950s and 1960s, and needs a LOT of work if we want to be self-reliant for our energy needs in the years to come. They need to invest many billions towards things like Site C and other upgrades. The rate increases are needed to fund those improvements. I think we've had pretty cheap energy with low increases for several years, but it's coming time to pay up for the future of Hydro.

Hydro may not be the best example of "corporate profits and tax breaks", as they are exempt from Federal and Provincial income taxes because they are a Crown corporation. So, although you state that they are getting "corporate tax breaks" from the Federal Conservatives, they are, in fact, exempt.

Next time, do a little research before you post about $2.23 billion in compensation for Hydro's CEO, and big tax breaks from Harper to already-exempt Crown corporations. If I hadn't called you on your BS, you and Steven Lloyd (who simply quips and yips in an attempt to derail factual information that doesn't suit his leftist agenda) would have the gullible Casta-posters lapping up total misinformation.

[steven lloyd]

Top 20 Highest Paid Public-Sector Execs in B.C.

http://www.scribd.com/doc/34081596/Exec ... 20-For-Web

Canada's top-paid chief executives only have to work until 2:30 p.m. Monday to make the same amount of money the average Canadian will earn for the entire year, a new study suggests.

http://finance.sympatico.ca/home/canada ... y/89dbc59b

Interesting. Last year's study showed they made it by the time they showed up for work. We're gaining ground.


The 10 wealthiest people of 2010

http://finance.sympatico.ca/galleries/wealth_2010

[steven lloyd]

If I hadn't called you on your BS, you and Steven Lloyd (who simply quips and yips in an attempt to derail factual information that doesn't suit his leftist agenda) would have the gullible Casta-posters lapping up total misinformation.

You really have problems with reading comprehension don't you dickie ? Is it time to press the "green" buton again ?

[Rwede]

If I hadn't called you on your BS, you and Steven Lloyd (who simply quips and yips in an attempt to derail factual information that doesn't suit his leftist agenda) would have the gullible Casta-posters lapping up total misinformation.

You really have problems with reading comprehension don't you dickie ? Is it time to press the "green" buton again ?

Thanks for proving my point. BTW, while we're on the subject of reading, "button" has two t's. It's okay, the union will ensure that your incompetence is rewarded with a 1.5% pay increase this year. Enjoy your mediocrity.

[steven lloyd]

Thanks for proving my point. Did you get in trouble for not pushing the button in time ?

[NAB]

http://www.vancouversun.com/business/pu ... index.html

[kompili]

Canada's CEO wages recession-proof: study
Last Updated: Monday, January 3, 2011 | 1:12 PM ET Comments616Recommend218
CBC News

Canada's top-paid chief executives only have to work until 2:30 p.m. Monday to make the same amount of money the average Canadian will earn for the entire year, a new study suggests.
Barrick Gold CEO Aaron Regent made $24.2 million in 2009, according to a study released Monday that suggests CEOs weathered the economic storm better than Canadians earning average wages.Barrick Gold CEO Aaron Regent made $24.2 million in 2009, according to a study released Monday that suggests CEOs weathered the economic storm better than Canadians earning average wages. (Frank Gunn/Canadian Press)

The "Recession-Proof" report by the Canadian Centre for Policy Alternatives (CCPA) suggests the country's best-paid CEOs made an average of $6.6 million in 2009 during the darkest period of the recession. That compares to the total average Canadian income of $42,988 and the total average minimum wage worker's income of $19,877.

"Canadians may still be feeling the pain from a worldwide economic meltdown caused by reckless financial speculation, but Canada's business elite has preserved its privileged position," CCPA research associate Hugh Mackenzie says in the report, released Monday.

Mackenzie suggests that at this rate, "this handful of elite CEOs pocket the equivalent of the average Canadian wage by 2:30 pm on Jan. 3 — the first working day of the year."

Topping the list of the best earners was Barrick Gold's Aaron Regent, at $24.2 million in 2009. Hunter Harrison at Canadian National Railway Co. garnered $17.3 million and Gerald Schwartz at Onex Corp. made $16.7 million.

The study suggests that even in the worst of the recession, the country's best-paid 100 CEOs earned, on average, 155 times more than Canadians who earned an average income.

Still, CEOs' earnings dropped from the previous year, when they made 174 times the average Canadian, compared to the 155 ratio for 2009. In 2008, CEOs were paid an average of $7.3 million.

But the gap was not always that wide. In 1998, the best-paid CEOs pocketed an average of 104 times more than the average Canadian wage earner, according to the CCPA study.

As well, between 1998 and 2008, the best-paid 100 CEOs' average compensation outpaced inflation by 53 per cent, while the average Canadian income gained four per cent over that period.
Windfall looms

Mackenzie notes that Canada's best-paid 100 CEOs are sitting on previously granted stock options already worth $1.3 billion at the time their companies reported to shareholders in 2009. This is about $2 in deferred pay for every dollar reported as earnings that year.

When these CEOs finally decide to exercise their stock options, Canadians will subsidize that bonus in lost taxes. Stock options are taxed as if they were capital gains, rather than as ordinary income. As a result, nearly a third of CEOs' 2009 reported income — and the entire amount of their capital gains windfall — is taxed at half the rate paid on wage and salary income.

Mackenzie said that tax subsidy is worth an average of $467,000 on their 2009 income, or roughly 10 times the pay of the average Canadian worker.

And when the high earners cash in that $1.3-billion stock option stockpile, the windfall will be supported by a tax subsidy of $360 million, or an average of $3.6 million per top-100 CEO.

"Thanks to a change in corporate reporting introduced in 2008, we only have a conservative statistical estimate of the stock options that make up about one-third of CEOs' 2009 pay. The public will never know how much most of these CEOs actually got paid in 2009," the study said.

The Toronto-based CCPA, founded in 1980, calls itself an independent, non-partisan research institute concerned with issues of social, economic and environmental justice.


Read more: http://www.cbc.ca/money/story/2011/01/0 ... z1A1Lztg6G

[steven lloyd]

http://www.vancouversun.com/business/public-sector-salaries/index.html

That was interesting Nabs. I was actually able to find the salaries of two Judges and a couple of Crown Counsel I know
( I am not going to stop my one friend from paying for lunch next time ). I didn’t make the table though.

[Captain Awesome]

Thanks-for-proving-my-point overload.

[Captain Awesome]

Hey, there's our friend Mattiussi, Ronald with his $250,000 salary.

I don't see BC Hydro CEO with 2.2 billion dollar salary, what's up with that Bago?

[NAB]

BC Hydro (Former) CEO Bob Elton* was the top paid Public-Sector Exec in B.C. 2009/2010, pocketing a cool $749,213 in salary and benefits, a significant chunk of which was apparently "holiday pay" as he stepped down as CEO in Dec. 2009 and became Executive Chair of BC Hydro subsidiary Powertech.

Nab