Some companies pay their CEOs more than Uncle Sam, study says

[alp227]

Source: The Washington Post

It has become a bipartisan article of faith in some quarters that the income tax on U.S. corporations must be lowered.

But for many large U.S. companies, the burden of U.S. taxation pales in comparison with what they pay their chief executives, according to a study released Wednesday by the Institute of Policy Studies, a liberal think tank.

Of last year’s 100 highest-paid corporate executives in the United States, 25 earned more in pay than their company recorded as a tax expense in 2010.

Those 25 firms reported average global profits of $1.9 billion. Among the 25 were Verizon, Bank of New York Mellon, General Electric, Boeing and eBay.

Read more: http://www.washingtonpost.com/business/economy/some-companies-pay-their-ceos-more-than-uncle-sam-study-says/2011/08/30/gIQAHMcxqJ_story.html

[Tuesday Afternoon]

1. disgusting.

fucking downright puking disgusting.

[LetTimmySmoke]

2. But will Obama dare to speak out on this?

[oNobodyo]

3. The republicans will...

They'll talk about how cash strapped the corporations are and how they need lower taxes to be able to create jobs, how they just can't compete with any regulation at all and top it off with a big dollop of how the poor and needy are bleeding the life out of this country...

If someone doesn't understand this already, there is NOTHING that Obama could say that would change that.

[dreamnightwind]

4. You make the counter argument

The Dems have to make the case against this level of CEO pay. It's an easy sell to the public, most of the public anyway. If they don't make the case, the Republicans lies are left standing unchallenged.

It's possible I misunderstood your post, if so, apologies, seemed to me like you were saying no good would come of making this an issue.

[No Elephants]

Self delete. Double dupe. .

[Lasher]

6. Delete dupe derp

Dang.

[No Elephants]

Self delete. Dupe

[No Elephants]

5. Where do you think WAPO got the story? Not from corporations.

Not from Republicans. And probably not from that quaint practice, investigative reporting.

So, where did the story originate?

My guess is some Democratic politician or another, maybe Obama.

[Lasher]

7. It's based on a study by the Institute of Policy Studies, a liberal think tank.

Chuck Collins, one of the study’s co-authors, is quoted in the article.

[w0nderer]

8. k&r n/t

[Kelvin Mace]

9. Of course they do,

and the CEO's salary is "tax deductible" as an "operating expense". Thus, the poor subsidize the rich yet again.

[OhioChick]

10. Utterly pathetic n/t

[SoapBox]

11. Will ABC, CBS, CNN, NBC, NPR, PBS cover this?

...odds are pretty good for NOT!

It's my conspiracy theory...they simply don't report stuff like this...and then they can claim
woeful ignorance...like the What-Me-Worry look of Alfred E. Neuman!

http://en.wikipedia.org/wiki/Alfred_E._Neuman

[Uncle Joe]

12. Kicked and recommended.

Thanks for the thread, alp.

[dipsydoodle]

13. CEOs Earned More Than Companies’ Tax Bills

Source: Bloomberg News

Twenty-five of the best-paid chief executive officers in the U.S. earned more in salary and other compensation in 2010 than their companies’ federal income tax expenses as disclosed in public filings, according to a report by the Institute for Policy Studies.

The Washington-based nonprofit group’s report, released today, examined 100 publicly traded U.S. corporations with the highest-paid CEOs. It found that companies whose CEOs’ compensation exceeded reported tax expense in 2010 had average global profits of $1.9 billion.

Companies in this group, according to the report, included Cablevision Systems Corp., EBay Inc., Verizon Communications Inc., Boeing Co. and Dow Chemical Co.

According to the report, Cablevision CEO James Dolan earned $13.2 million in 2010 while the Bethpage, New York-based company had a $2.7 billion corporate income tax benefit. Verizon CEO Ivan Seidenberg earned $18.1 million while the New York-based company had a $705 million tax benefit.

Read more: http://www.bloomberg.com/news/2011-08-31/ceos-earned-more-than-their-companies-tax-bills-study-finds.html

[SharonAnn]

14. The companies PAID more to CEO's than they PAID in taxes. I doubt the Ceo's EARNED it.

Please correct this statement wherever you see it. Some people get PAID outrageous amounts of money because of cronyism. Very few people actually EARN outrageous amounts of money.

Please make this distinction!