Fat Cats

As Economy Lags, New Study Reveals 25 Top Firms Pay More to CEOs than in Taxes

A new study reveals that 25 of the nation’s largest corporations paid more money to their CEOs last year than they did to the federal government in income taxes. Often using overseas tax havens, many of the corporations managed to make billions in profits but paid little to nothing in federal taxes. In many cases the companies received large tax rebates. The list includes some of the country’s best-known companies, such as Ford, Coca-Cola, Verizon, General Electric and eBay. The same study found that the ratio of CEO pay to that of the average worker in the United States jumped to 325-to-1 last year. We speak to the study’s co-author, Chuck Collins, a senior scholar at the Institute for Policy Studies and director of its Program on Inequality and the Common Good. "What these companies do is they use a variety of tax loopholes, corporate loopholes, to game down their taxes. So, these are what I would call the sort of champion in the tax gymnastics department," says Collins.

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Waste Products

What's angering me even more, is that everyone is talking about cutting costs. Are we not daily spending an extraordinary amount on their lack of compromise? All of this wasted time because of agendas... And I'm not saying that this is ever exclusive to one party or the other, but in this current situation, the GOP KNEW this wouldn't pass the Senate. So, instead of negotiating and compromising in some way, they've just wasted more time, and MORE TAX PAYER MONEY.

Let's fire everyone except Bernie Sanders and start over.

*** The Chart That Should Accompany All Discussions of the Debt Ceiling

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