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The Institute for Policy Studies has just released its 18th annual review of U.S. executive compensation and found that 25 out of the country's 100 highest-paid chief executives actually earned more in 2010 than their companies paid out in corporate income taxes.
In fact, looking at the list below, only five of these 25 companies paid any corporate income taxes to the federal government. One business had a zero sum on income taxes paid, while the remaining 19 companies all received millions back from the government.
PRUDENTIAL FINANCIAL
CEO: John Strangfeld
Executive Compensation, 2010: $17,187,028
U.S. Corporate Income Taxes Paid, 2010: -$722 million
VERIZON
CEO: Ivan Seidenberg
Executive Compensation, 2010: $18,126,854
U.S. Corporate Income Taxes Paid, 2010: $-705 million
BANK OF NEW YORK MELLON
CEO: Robert Kelly
Executive Compensation, 2010: $19,379,257
U.S. Corporate Income Taxes Paid, 2010: -$670 million
DOW CHEMICAL
CEO: Andrew Liveris
Executive Compensation, 2010: $17,739,490
U.S. Corporate Income Taxes Paid, 2010: -$576 million
HONEYWELL
CEO: David Cote
Executive Compensation, 2010: $15,216,953
U.S. Corporate Income Taxes Paid, 2010: -$471 million
INTERNATIONAL PAPER
CEO: John Faraci
Executive Compensation, 2010: $12,303,423
U.S. Corporate Income Taxes Paid, 2010: -$249 million
AMERIPRISE
CEO: James Cracchiolo
Executive Compensation, 2010: $16,252,851
U.S. Corporate Income Taxes Paid, 2010: -$224 million
STANLEY BLACK & DECKER
CEO: John Lundgren
Executive Compensation, 2010: $32,570,596
U.S. Corporate Income Taxes Paid, 2010: -$183 million
CAPITAL ONE FINANCIAL
CEO: Richard Fairbank
Executive Compensation, 2010: $14,850,675
U.S. Corporate Income Taxes Paid, 2010: -$152 million
NABORS INDUSTRIES
CEO: Eugene Isenberg
Executive Compensation, 2010: $13,537,486
U.S. Corporate Income Taxes Paid, 2010: -$138 million
EBAY
CEO: John J. Donahoe
Executive Compensation, 2010: $12,382,486
U.S. Corporate Income Taxes Paid, 2010: -$131 million
MARSH & MCLENNAN
CEO: Brian Duperreault
Executive Compensation, 2010: $14,038,187
U.S. Corporate Income Taxes Paid, 2010: -$90 million
FORD
CEO: Alan Mulally
Executive Compensation, 2010: $26,520,515
U.S. Corporate Income Taxes Paid, 2010: -$69 million
MYLAN LABORATORIES
CEO: Robert Coury
Executive Compensation, 2010: $14,975,235
U.S. Corporate Income Taxes Paid, 2010: -$73 million
ALLEGHENY TECHNOLOGIES
CEO: Patrick Hassey
Executive Compensation, 2010: $14,978,587
U.S. Corporate Income Taxes Paid, 2010: -$47 million
QWEST COMMUNICATIONS
CEO: Edward Mueller
Executive Compensation, 2010: $13,446,399
U.S. Corporate Income Taxes Paid, 2010: -$14 million
CHESAPEAKE ENERGY
CEO: Aubrey McClendon
Executive Compensation, 2010: $21,044,952
U.S. Corporate Income Taxes Paid, 2010: $0
GENERAL ELECTRIC
CEO: Jeff Immelt
Executive Compensation, 2010: $15,199,762
U.S. Corporate Income Taxes Paid, 2010: -$3.2 billion
CABLEVISION SYSTEMS
CEO: James Dolan
Executive Compensation, 2010: $13,320,691
U.S. Corporate Income Taxes Paid, 2010: -$3 million
WYNN RESORTS LTD
CEO: Steve Wynn
Executive Compensation, 2010: $14,615,779
U.S. Corporate Income Taxes Paid, 2010: $0
COCA-COLA
CEO: John F. Brock
Executive Compensation, 2010: $19,114,318
U.S. Corporate Income Taxes Paid, 2010: $8 million
MOTOROLA SYSTEMS
CEO: Gregory Q. Brown
Executive Compensation, 2010: $13,732,802
U.S. Corporate Income Taxes Paid, 2010: $7 million
AON
CEO: Gregory Case
Executive Compensation, 2010: $20,783,301
U.S. Corporate Income Taxes Paid, 2010: $16 million
MOTOROLA MOBILITY
CEO: Sanjay Jha
Executive Compensation, 2010: $13,016,126
U.S. Corporate Income Taxes Paid, 2010: $12 million
BOEING
CEO: Jim McNerney
Executive Compensation, 2010: $13,768,019
U.S. Corporate Income Taxes Paid, 2010: $13 million
Putting aside the argument about the No. of Americans who Don't pay taxes "or don't work because they are lazy", its something to think about.
company make xxxxx..company paid ceo xxxx..company paid xxx in taxes
just like EVERYONE ELSE
joe shmo makes xxxxx joe shmo pays xx in taxes..joe shmo gets back x in taxes at the end of the year.....the end result joe makes more than he paid in taxes
company make xxxxx..company paid ceo xxxx..company paid xxx in taxes
just like EVERYONE ELSE
joe shmo makes xxxxx joe shmo pays xx in taxes..joe shmo gets back x in taxes at the end of the year.....the end result joe makes more than he paid in taxes
but we know, there is an agenda to the OP
If I can decipher what you are trying to say, you are misunderstanding.
The CEO made more in personal income from the company than the entire company paid in corporate income tax.
It's corporate welfare at its finest. I know you hate welfare recipients, but only the human kind.
If I can decipher what you are trying to say, you are misunderstanding.
The CEO made more in personal income from the company than the entire company paid in corporate income tax.
It's corporate welfare at its finest. I know you hate welfare recipients, but only the human kind.
ok and???
made up numbers but shows the point:
company makes 50 million......ceo makes 20 million( he is the ceo and makes 2/5ths the total income) ....the company pays 17,500,000(about 35% straight) in corpoart taxes
If I can decipher what you are trying to say, you are misunderstanding.
The CEO made more in personal income from the company than the entire company paid in corporate income tax.
It's corporate welfare at its finest. I know you hate welfare recipients, but only the human kind.
Why is it thet you Lefties constantly complain about this stuff, but your party did ABSOLUTELY NOTHING about this when they had ALL the power? Why do they let their pet companies off the hook and you guys say NOTHING or do NOTHING???????? It really stinks of hypocrisy!
Why is it thet you Lefties constantly complain about this stuff, but your party did ABSOLUTELY NOTHING about this when they had ALL the power? Why do they let their pet companies off the hook and you guys say NOTHING or do NOTHING???????? It really stinks of hypocrisy!
I don't disagree.
Neither the Democratic party nor the Republican party comprehensively represent my views.
If you really want reform support publicly funded elections. No outside money, no corporate influence.
made up numbers but shows the point:
company makes 50 million......ceo makes 20 million( he is the ceo and makes 2/5ths the total income) ....the company pays 17,500,000(about 35% straight) in corpoart taxes
so what is your beef???
I guess my beef is with your complete lack of knowledge, yet you continue to post as if you have any idea what you're talking about.
GE: 10.8 Billion in Profit
GE CEO Salary: 5.5 million total compensation
GE US Federal Tax Payment: Zero
Ceo's don't make 2/5 of the total income? Where did you get that idea? Wow.
If you don't see something wrong with these numbers, then you have blinders on.
I really can't debate with someone who won't bother to find out facts, and instead makes up his own. So Sad that you support the very institutions that are screwing you.
In most cases that is true, but Joe doesn't get stimulus money from Obama.
The lion's share of tax breaks reward corporate behaviors — from "offshoring" to accelerated depreciation — that are of questionable value to society, especially over the long term.
The incentive — known as accelerated depreciation — lets companies take a larger deduction in the early years of the life of an asset such as a plane. Companies will have to place orders by the end of 2009, and those planes will need to be delivered by the end of 2010 to take advantage of the tax benefit.
Neither the Democratic party nor the Republican party comprehensively represent my views.
If you really want reform support publicly funded elections. No outside money, no corporate influence.
OK, how smart is that when a company can simply reward their guy or gal after they leave office. Look at the sleaziest of the sleazy, people who have so sullied their reputations while in office that they don't even bother trying to win another term. Do they care? No, because the companies who have received favorable treatment, custom-made loopholes, exemptions to regulations and the like will hire these people for a no-show multi-million dollar job or board seat as a reward after they leave office. So how do you keep a politician from selling out when so much money is offered to them if they do?
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Thread Fail!
