Posted: Thu 8:23 PM, Aug 16, 2012
Reporter: Channel 6 News Email
More To CEOs, Less To Taxes
According to a study released by a liberal-leaning think tank, 26 big U.S. companies paid their CEOs more last year than they paid the federal government in taxes.
The Institute for Policy Studies conducted the study.
It states the companies, including AT&T, Boeing, and Citigroup, generated net income of more than $1 billion-and paid their CEOs an average of $20.4 million last year, but paid little or no federal tax on ample profits.
The study blasts tax rules that allow unlimited deductions for CEO "Performance-based" pay.
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