“A new report finds many top executives are taking home more than their corporations pay in taxes – at our expense” In other words, this report is about another income redistribution scam from the 99 percent to the 1 percent. That’s what your federal, state and local government officials do for a living. That is while they’re in office.
“The Institute for Policy Studies found that 26 of the 100 highest-paid US CEOs took home more in pay than their companies paid in federal income taxes. On average, each of these company bosses was paid $20.4m last year.”
“Dozens of US CEOs have cashed in on this major tax incentive at an estimated cost to US taxpayers of $9.7bn last year. Statistics provided by National Priorities Project suggest that the same amount of money could have paid for 142,625 elementary school teachers, or healthcare for 4.96 million low-income children.
“At a time of austerity, it’s beyond absurd that billions of our tax dollars are pouring into executive pockets,” says Sarah Anderson, a report co-author.”
Click below for a synopsis of the story from the Guardian of the UK or the original report below it from the Institute for Policy Studies.