Astonishing assembly of data, from AP via the Daily Mail:
“Twenty-six big US companies paid their CEOs more last year than they paid the federal government in tax, according to a study released Thursday by a liberal-leaning think tank.
The study, by the Institute for Policy Studies, said the companies, including AT&T, Boeing and Citigroup, paid their CEOs an average of $20.4 million last year while paying little or no federal tax on ample profits, according to regulatory filings.
Astonishingly, nearly all of the the companies received a net tax refunds of up to $1billion. Others had a tax bill of $0.
On average, the 26 companies generated net income of more than $1 billion in the US, the study said.”
Taxes, why would we pay any stinking taxes . . . ?
The Institute for Policy Studies lists these 26 companies that paid their CEOs more than they paid the federal government in taxes:
|Abbott Laboratories||Miles D White||$19million||$586million refund||$4.73billion|
|AMD||Rory P Read||$15.6million||$3million refund||$491million|
|Altera||John P Daane||$29.6million||$22million||$771million|
|AIG||Robert Benmosche||$14million||$208million refund||$17.8billion|
|Anadarko Petroleum||James T Hackett||$19.5million||$381million refund||$2.65billion|
|AT&T||Randall Stephenson||$18.7million||$420million refund||$3.94billion|
|Boeing||James McNerney Jr||$18.4million||$605 refund||$4.02billion|
|Broadcom||Scott A McGregor||$16.1million||$0||$927million|
|Chesapeake Energy||Aubrey McClendon||$17.9million||$13million||$1.74billion|
|Citigroup||Vikram S Pandit||$14.9million||$144million refund||$11.02billion|
|Cooper Industries||Kirk S Hachigian||$21.1million||$29million refund||$828million|
|Danaher||H Lawrence Culp Jr||$21.7million||$6million refund||$2.17billion|
|Devon Energy||John Richels||$13.9million||$143million refund||$4.7billion|
|FirstEnergy||Anthony J Alexander||$14.4million||$243million refund||$885million|
|Ford Motors||Alan Mulally||$29.5million||$4million refund||$20.21billion|
|Halliburton||David J Lesar||$15.8million||$1.03billion refund||$2.84billion|
|International Paper||John V Faraci||$13.9million||$78million refund||$1.34billion|
|Leucadia National||Ian Cumming||$28.2million||$0||$68million|
|Marathon Oil||Clarence P Cazalot||$29.9million||$210million refund||$2.95billion|
|Marsh & McLennan||Brian Duperreault||$14.3million||$7million||$993million|
|Motorola Mobility||Sanjay K Jha||$47.2million||$0||$249million loss|
|Motorola Solutions||Gregory Q Brown||$29.3million||$2million||$1.16billion|
|Newell Rubbermaid||Michael B Polk||$18.9million||$37million refund||$125million|
|Salesforce.com||Marc R Benioff||$17.7million||$9million||$11million loss|
|Travelers Companies||Jay S Fishman||$15.8million||$176million refund||$1.43billion|
|Tyco International||Edward D Breen||$16.5million||$4million refund||$17.36billion|
Revealed: The 26 ‘kingpin’ corporations that paid their CEOs more than they paid in taxes… and for most the public paid THEM a refund
Associated Press, 10:05 EST, 16 August 2012
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