US CEOs Earned More Than Companies’ Tax Bills

by on 31 August, 2011

Not the best look for capitalism…

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 EBay Inc., General Electric Co., Verizon Communications Inc., Boeing Co. and Dow Chemical Co.

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Andy Semple

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