Key findings from Executive Excess 2012: The CEO Hands in Uncle Sam’s Pocket — from the Institute for Policy Studies by Sarah Anderson, Chuck Collins, Scott Klinger, Sam Pizzigati
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Key findings:
- Of last year’s 100 highest-paid U.S. corporate chief executives, 26 took home more in CEO pay than their companies paid in federal income taxes, up from the 25 we noted in last year’s analysis. Seven firms made the list in both 2011 and 2010.
- The CEOs of these 26 firms received $20.4 million in average total compensation last year. That’s a 23 percent increase over the average for last year’s list of 2010’s tax dodging executives
- The four most direct tax subsidies for excessive executive pay cost taxpayers an estimated $14.4 billion per year—$46 for every American man, woman, and child. That amount could also cover the annual cost of hiring 211,732 elementary-school teachers or creating 241,593 clean-energy jobs.
From DSC:
Considering our corporations are sitting on $1.X trillion, where is our nation’s heart? Priorities? Care for fellow mankind? It seems the “every man for himself” philosophy and manner of living is alive and well here in America. My alma mater would be proud — it’s their philosophy exactly.