When Firms Pay CEOs More than Uncle Sam, The Tax System is Broken

When Firms Pay CEOs More than Uncle Sam, The Tax System is Broken

Twenty-five of the 100 highest-paid U.S. chief executives pocketed more in pay last year than their companies paid in federal income taxes.

I don’t know about you, but that’s the kind of stat that really gets my bacon sizzling — yet more evidence of how the 1% live in a bizarro parallel universe where the normal rules don’t apply.

A recent report from the left-leaning Institute for Policy Studies found that weak profits weren’t to blame for the 25 companies’ relatively low tax bills. All had more than $1 billion in pretax income, according to regulatory filings.

Yet thanks to a variety of tax breaks and loopholes, each of these companies was able to lavish an average of $20.6 million on its CEO and pay less than that amount to Uncle Sam.

And two of the companies — Citigroup and American International Group — have received billions of dollars in bailout cash from taxpayers.

If these facts don’t make a profound case for corporate tax reform, I don’t know what does.

Rest here…

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4closureFraud.org

Comments
13 Responses to “When Firms Pay CEOs More than Uncle Sam, The Tax System is Broken”
  1. stripes says:

    Here are a couple of good educational links on Property Title Conveyance and Deeds of Conveyance…. http://www.virtualunderwriter.com/vumanuals.jsp?displaykey=UM00000052
    http://www.douglas.co.us/assessor/documents/PropertyTitleConveyance.pdf

  2. stripes says:

    Sorry, I will repost the last link is the wrong link..Citizen journalism has its challenges. They are hiding alot of stuff from the American People
    http://www.justice.gov/usao/eousa/foia_reading_room/usam/title9/115mcrm.htm

  3. stripes says:

    Now, tell us who owes this money to the U.S. TREASURY DEPT? SOMEONE has alot of explaining to do and it is NOT WE THE PEOPLE.

  4. stripes says:

    Ta-da…

  5. stripes says:

    Somethings gone haywire here..please allow me to try one more time. If you guys can delete the previous links that do not work. This is how they do it and the FED does not pay back the original loan to the Treasury Dept.
    http://www.blm.gov/nils/AQ_handbook/h-2100-1/chapter-VII/chapVII-illus-18.htm

  6. stripes says:

    Ooops..sorry…allow me to repost that important link…this is how they do it…and, the bank never repays the original loan back to US.
    http://www.blm.gov/nils/AQ_handbook/h-2100-1/chapter-VII/chapVII-illus-18.htm

  7. Ken Hansen says:

    The rank and file taxpayers subsidize CEO’s pay. The media usually doesn’t dare mention this fact.

  8. stripes says:

    May I add, it is those people working for the U.S. TREASURY DEPT, appointed by the President of the U.S., who were put in charge of protecting the peoples money and property. They did not. They are traitors.

  9. stripes says:

    Those trustees who have been in charge of the U.S.A., are traitors. They were supposed to be protecting the peoples money and they did not. Therefore, it is time for the American People to storm the bastille. We need a referendum on the 2012 ballot to restore the U.S.C., issue our own currency, U.S. BANK NOTES via state banks, We The People need to sue the FED and abolish them. We need to start voting out the traitors from the local level on up.

  10. Sarah says:

    That’s not the only reason the tax system is broken. Most of the wealthy stash, and hide their loot. The propaganda is so thick when it comes to taxation, clarity is hard to come by. In fact, most of the so called “anti-tax / anti-government” politicians obtain their wealth FROM the Government, and they pay little in taxes. But they want you, the little guy, to share their “anti-tax” rage, since it is equal to stealing from you. They’ll lie about everything, about how much corporations pay, about how much the wealthy pay, and so on. Think Banksters, think both political parties, read David Cay Johnston and others.

  11. stripes says:

    Bloomberg news reporting Iranian President says Captitalism is on the threshold of collapse and is warning.. do not use the dollar. We need a referendum on the 2012 ballot to restore the U.S.C. and issue our own currency, U.S. BANK NOTES via State Banks. America was set up to fail by the Krony Kapitalists.

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