CEOs Earned More Than Companies’ Tax Bills
By Andrew Zajac – Aug 31, 2011
Twenty-five of the best-paid chief executive officers in the U.S. earned more in salary and other compensation in 2010 than their companies’ federal income tax expenses as disclosed in public filings, according to a reportby the Institute for Policy Studies.
The Washington-based nonprofit group’s report, released today, examined 100 publicly traded U.S. corporations with the highest-paid CEOs. It found that companies whose CEOs’compensation exceeded reported tax expense in 2010 had average global profits of $1.9 billion.
Companies in this group, according to the report, included Cablevision Systems Corp., EBay Inc., Verizon Communications Inc., Boeing Co. and Dow Chemical Co.