STUDY: COMPANIES PAID MORE TO CEOS THAN IN US TAX

[xchrom]

http://hosted.ap.org/dynamic/stories/U/US_CEO_PAY_TAXES?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2012-08-16-03-29-47

NEW YORK (AP) -- Twenty-six big U.S. 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.

On average, the 26 companies generated net income of more than $1 billion in the U.S., the study said.

The study blasted tax rules allowing unlimited deductions for CEO "performance-based" pay, like many stock options. It said the five biggest performance payers among the 26 companies took $232 million of these deductions last year.


*** that's 'the point' isn't it?
and in the name of 'competitiveness' - we tacitly 'approve' of this kind of behavior.