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More than one-third of the nation's highest-paid CEOs from the past two decades led companies that were subsidized by American taxpayers, according to a report released Wednesday by the Institute for Policy Studies, a liberal think tank.
Even corporations that do not do business with the government or receive bailouts receive subsidies for CEO pay. All companies are currently able to deduct unlimited amounts in CEO pay from their federal tax bills, so long as the pay takes the form of "performance-based" compensation such as bonuses or stock payments.
This is the most comprehensive evidence of the dire need for IRS reform. CEO pay is tax deductible? No wonder they pay them extrodinary amounts. Amounts that have nothing to do with their workload or performance regardless of what they tell us.
oh...so not tax deductions/writeoffs are considered subsidies.....hmmm
most of what the article talked about was BAILOUTS and TARP
and those who had government contracts...like very liberal GE:
Quote:
while General Electric appeared on the annual list eight times, with $16.5 billion in contracts. GE also has a large banking wing, which issued more than $70 billion in debt guaranteed by the federal government at the height of the financial crisis, making it one of the biggest beneficiaries of the bank rescue.
"Approximately 4 percent of GE's annual revenues come from sales to the U.S. government, primarily work to support the U.S. military," GE spokesman Seth Martin told HuffPost. Martin emphasized that none of its government-backed debt defaulted, and that the company paid taxpayers $2.3 billion in guarantee fees as part of the program.
More than one-third of the nation's highest-paid CEOs from the past two decades led companies that were subsidized by American taxpayers, according to a report released Wednesday by the Institute for Policy Studies, a liberal think tank.
Even corporations that do not do business with the government or receive bailouts receive subsidies for CEO pay. All companies are currently able to deduct unlimited amounts in CEO pay from their federal tax bills, so long as the pay takes the form of "performance-based" compensation such as bonuses or stock payments.
This is the most comprehensive evidence of the dire need for IRS reform. CEO pay is tax deductible? No wonder they pay them extrodinary amounts. Amounts that have nothing to do with their workload or performance regardless of what they tell us.
So by this thinking, earned income tax credits and tax credits for dependents are also subsidies. That means just about every taxpayer in America was "paid" by tax dollars. Do I have that right?
So by this thinking, earned income tax credits and tax credits for dependents are also subsidies. That means just about every taxpayer in America was "paid" by tax dollars. Do I have that right?
Yes in fact it is right. It is Time to reform the tax code no?
No more subsidies, no more credits, no more deductions. We all pay an equal share.
CEOs, Middle Managment, blue collar workers.
The banksters and corporates took over the government and you're surprised they give themselves all the financial rewards ?
Don't forget that you elected the people in power that make the rules.
And when your side is in the WH you shut your eyes to any wrongdoing.
You don't care that a Monsanto guy is running the FDA.
You don't care that a multinational guy is the head of Jobs Council thinking of ways to create jobs in the US.
More than one-third of the nation's highest-paid CEOs from the past two decades led companies that were subsidized by American taxpayers, according to a report released Wednesday by the Institute for Policy Studies, a liberal think tank.
Even corporations that do not do business with the government or receive bailouts receive subsidies for CEO pay. All companies are currently able to deduct unlimited amounts in CEO pay from their federal tax bills, so long as the pay takes the form of "performance-based" compensation such as bonuses or stock payments.
This is the most comprehensive evidence of the dire need for IRS reform. CEO pay is tax deductible? No wonder they pay them extrodinary amounts. Amounts that have nothing to do with their workload or performance regardless of what they tell us.
Consider the source.
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