Uh oh! Now ya done it King! Do you REALLY want to get into the whole "Owes a favor" can 'o worms?
OK then... here you go.
Tax Breaks For Donors
By David Donnelly, Director, Campaign Money Watch
Special Interest Spotlight 2.8
April 15, 2004
Some of the nation's wealthiest CEOs have been so energized to support President Bush's campaign that they have personally raised hundreds of thousands of dollars for him.
As Americans file their income tax forms today, this special edition Special Interest Spotlight provides a glimpse into one reason (for some there are many) why some of these titans of finance, insurance, and other industries are so personally supportive of President Bush:
His tax cuts saved them an extraordinary large amount of money.
Here is a look at just six of Bush's super-fundraisers:
Bush fundraiser 2003 total
compensation
Est. min. tax
savings from Bush
Henry McKinnell
CEO, Pfizer
Raised $200,000+ for Bush
$11.9 million
$244,214
E. Stanley O'Neal
CEO, Merrill Lynch
Raised $500,000+ for Bush $8.8 million
$351,900
Charles Cawley
CEO, MBNA America
Raised $200,000+ for Bush $29.1 million
$276,000
William McGuire
CEO, UnitedHealth Group
Raised $100,000+ for Bush $9.5 million
$329,866
Dwight Schar
CEO, NVR
Raised $200,000+ for Bush $94.3 million
$138,000
Maurice Greenberg
CEO, American International Group
Raised $200,000+ for Bush $29.4 million
$276,000
The information in this chart comes from Forbes.com, WhiteHouseForSale.org, and National Journal. The minimum tax savings from the Bush tax cut is estimate based upon calculating the portion of 2003 income, as reported by Forbes.com, that each CEO received in direct pay and bonuses multiplied by the new lower tax rate of 35%, as opposed to the 39.6% rate before Bush took office.