While we were arguing about the minimum wage: A study of CEO salaries notes that the head of a typical large public company earned on average a record $10.5 million last year. Most employees would have to work 257 years to make what a typical S&P 500 CEO makes in a year.
We know that pushes back your retirement 200 years or so, but it’s going to do wonders for your 401(k).
Don’t answer that: Personal finance columnist Michelle Singletary doesn’t like the sound of a proposal for the IRS to collect on delinquent tax debts by outsourcing the work to private collection agencies.
Actually, the IRS agrees it’s a bad idea, but they were looking forward to working with people even more unpopular than themselves.
Don’t know much about history: On this day in 1912, the Senate Commerce Committee issued its report on the Titanic disaster, blaming a “state of absolute unpreparedness” and “indifference to danger” among causes for the tragedy.
To save effort since that date, Congress has used the same report for every man-made disaster that followed, erasing “Titanic” and penciling in, among others, Three Mile Island, Exxon Valdez and Deep Water Horizon.