Monday, December 06, 2004
Johnny, We Hardly Paid Ye
Treasury Secretary Is Likely to Leave Soon0 comments
What a loss for the country's economy and markets.
John W. Snow was a towering presence at Treasury, and had an astonishing impact on the American economic landscape.
Snow is, as you know, the major force behind ...
Well, the Treasury Secretary is the architect of the policy that ...
Ummmm, he was the brains behind the initiative to ...
Oh, OK. So, he didn't do squat for two years at Treasury. But the Secretary's chair is nice 'n' toasty and warm.
And he gave good fundraiser, and always seemed to get through his entire Bush/Cheney '04 stump speech without laughing -- which, you know, was no small task. And doing so without raising any bad press, since cabinet members aren't allowed to campaign by law.
I guess, at the least it kept him from applying for more tax rebates for CSX. His railroad, you'll remember, didn't pay ANY taxes for three out of the four years before Snow moved to Treasury on its yearly income average of $1 billion, yet it still received tax refunds of over $164 million on the taxes they never paid in the first place. You'd have to figure that THAT creative a person was a natural fit for the crack Bush Economic Team.
Considering that, in 2000, Snow made $1 million in salary, a $6 million bonus and more than $11 million in restricted stock and options, he'll be able to command so much more from CSX, due to his recent tenure as Bush's Fundraiser Secretary.
UPDATE (12/9/04):
Yes, you've heard by now that Snow is staying.
It's obvious that George W. Bush needs someone in the administration who knows less economic principle than he does.
posted by Gotham 3:55 PM
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