Oct. 22 - Obama Pay Cuts a Good Start, but More Is Needed: Congress Should Impose a Windfall Bonus and Profits Tax on Wall Street

For the first time, the government appears to be set to take some meaningful action against business fat cats who a) run companies that exist only because of billions of dollars of taxpayer supports and b) still see fit to pay themselves obscene salaries. Outlets report that Obama administration pay czar Kenneth Feinberg will require executives and top employees at the most bailed-out firms to cut back on salary by 50%. If these reports are true, the administration deserves applause – with one big caveat.

READ the statement.

Because Public Citizen does not accept funds from corporations, professional associations or government agencies, we can remain independent and follow the truth wherever it may lead. But that means we depend on the generosity of concerned citizens like you for the resources to fight on behalf of the public interest. If you would like to help us in our fight, click here.