From 591136f9facd7dc4c6bfe42bf3cd5336a2b98e5f Mon Sep 17 00:00:00 2001 From: Adam Bittlingmayer Date: Tue, 24 Aug 2021 11:28:21 +0200 Subject: [PATCH] s/Unfortunately/Ironically to keep guide neutral Descriptive > Prescriptive --- README.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/README.md b/README.md index bad387f..bdf780a 100644 --- a/README.md +++ b/README.md @@ -295,7 +295,7 @@ the time the company went public.[^ftcomconte.x613np] Public companies offer executives equity compensation in no small part because of a tax loophole. In 1993, President Bill Clinton attempted to limit executive pay with a new section[^treasurygo.tbpcyx] of the Internal Revenue Code. -Unfortunately, the legislation backfired; +Ironically, the legislation backfired; a loophole made performance-based pay—including stock options—fully tax deductible, thereby creating a dramatic incentive to pay executives through stock options.[^epiorgpubl.cq5o0o] From 1970–79, the average compensation for a CEO of one of the 50 largest firms in the