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:
| Company | CEO | CEO pay | Taxes | Profits |
|---|---|---|---|---|
| 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 |
Source:
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
http://www.dailymail.co.uk/news/article-2189264/Institute-Policy-Studies-26-companies-paid-CEO-paid-taxes.html
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