Did you know that the CEOs of the Campaign to Fix the Debt, the corporate front group that wants to cut Social Security and Medicare and lower corporate taxes, have parked more than $418 billion of untaxed corporate profits overseas? Overall it is estimated that U.S. corporations have as much as $1.9 trillion sheltered overseas. That would make a nice down payment on fixing the debt.

You can read about "Fix the Debt" and more in the 2013 edition of the AFL-CIO’s Executive PayWatch launched today. PayWatch not only shines a light on Fix the Debt hypocrisy, but it also explores the huge wage gap between CEO pay and the average U.S. worker. PayWatch started in 1997. 

Visit www.paywatch.org.

This is a guest post by Mike Louis of the Missouri AFL-CIO and Sean Soendker Nicholson of Progress Missouri. 

Ever wondered what keeps payday lenders and the CEOs who pay poverty wages up at night? It’s not the 1,950% interest rates they’re allowed to charge Missourians on payday loans, or how the employees who make them rich are able to survive on $290 a week.  

Here in Missouri, we know what terrifies the payday lending companies and corporations who want to keep paying poverty wages: It’s the convergence of faith, community, student and labor organizations who collected 350,000 signatures in the past 18 months to cap the rate on predatory loans and give minimum wage-earning workers a raise. 

Looking for little reading over the long Labor Day weekend? Then check out online or pick up the latest copy of Rolling Stone with Matt Taibbi’s cover story on Mitt Romney’s days at Bain Capital. Taibbi writes:

Mitt Romney, it turns out, is the perfect frontman for Wall Street's greed revolution….He's Gordon Gekko, but a new and improved version, with better PR—and a bigger goal. A takeover artist all his life, Romney is now trying to take over America itself. And if his own history is any guide, we'll all end up paying for the acquisition.

Next time you write your tax check to the Internal Revenue Service, imagine which multibillion-dollar corporation may get some of your hard-earned pay.

How about drugmaker Abbott Laboratories, which in 2011 claimed a $586 million tax refund for its 64 subsidiaries operating in 16 countries considered tax havens?

Or maybe Chesapeake Energy, a company that last year made $2.8 billion in pre-tax U.S. profits—but whose effective tax rate over the course of its 23-year history has averaged only about 1 percent?

We’ve been talking a lot lately about the current financial state of play in electoral politics. Despite the mega-finances poured into the current election cycle, working families have more power than they think—power at the polls.

It’s not just the presidential race that’s being flooded with money. Every political race—from your local sheriff to state and local judges to your state governors and legislators—is receiving more donations from an ever greedier financial elite.

Some folks have been trying to make political hay with the easy availability of union financial information. As noted in an earlier post, however, The Wall Street Journal’s methodology in “discovering” the levels of labor union spending was fatally flawed and painted a false (and politically advantageous) picture.

And now Steven Law, the president of American Crossroads, a Republican super PAC, is using ridiculous fictions to try to defend the activities of the Karl Rove-backed group, claiming that the hundreds of millions of dollars that American Crossroads will spend on the election will somehow be dwarfed by what unions will spend.  

“There is simply a better payoff by courting seven-figure donors,” said Matt Schlapp, a former White House political director for George W. Bush, in a Politico story Tuesday.

The story, “Election 2012: The Myth of the Small Donor,” details the meteoric rise of the mega-donor. Multimillion-dollar donations from people like Sheldon Adelson, Frank VanderSloot and the Koch brothers are “quickly diminishing one of the few avenues—outside of voting—for average folks to shape elections, help determine candidates’ viability and affect the course of the country.”

Check it out: ABC News has a nice take on our just-released data on CEO pay.

Click here to take a look at the slide show of CEO images and their pay--an America's Most Wanted lineup from Wall Street to Silicon Valley.

Working familes in Washington, D.C., and Cannes, France (where leaders of the G-20 are meeting), rallied yesterday for passage of a Robin Hood tax on Wall Street. You can join the action by telling Wall Street it’s time to pay its fair share.

Here’s a great video that shows in part how the nation got to the point where inequality is so rampant, CEO greed so unrepentent and Wall Street so not held accountable that people across the nation have taken to the streets—and are staying there.