Some CEOs Make More Than Their Companies Pay in Taxes

[NJCher]

Some of the companies cited in the article are: Boeing, Chevron, Ford, Citigroup, General Motors, JPMorgan and Verizon.

Oh, and poor widdoe Verizon slammed the study for being "wrong."


Top paid CEOs sometimes rake in more than their companies pay in federal taxes: study

The report by a Washington think tank found 29 of the nation's 100 wealthiest chief executives were drawing bigger checks than the ones going to Uncle Sam. The analysis, 'Fleecing Uncle Sam,' urged Congress to reform tax laws to force corporations to pay up when it comes to federal taxes.


If only Uncle Sam could do as well.

Some of America's top-paid CEOs are raking in a lot more dough than their companies shell out in federal taxes, a shocking study reveals.

The report by a Washington think tank found 29 of the nation's 100 wealthiest chief executives were drawing bigger checks than the ones going to Uncle Sam.

"We're not accusing them of any criminality. But it should be a crime to not pay your fair share of taxes, and that isn't the case right now," said Sarah Anderson, who co-authored the report for the Institute for Policy Studies and the Center for Effective Government.

http://www.nydailynews.com/news/politics/ceos-rake-pay-taxes-study-article-1.2015767


Cher

[badtoworse]

1. The US motivates this kind of behavior

We have the highest corporate income tax rates in the developed world. If our tax rates were more competitive with the rest of the world, there would be less of an incentive to avoid US taxes.

[NJCher]

2. list

Here's an interesting list of countries by tax rate. As the article explains, it's difficult to determine because tax laws are so complex.

http://en.wikipedia.org/wiki/List_of_countries_by_tax_rates

I don't see that the U.S. is so high. France is at 33, whereas the U.S. is a range of 15-39%.

Canada, however, is 11-15%, and they're so close that it would be quite inviting to just go over the border. Mexico, however, is 28-30%.


Cher

[Buns_of_Fire]

3. Keep in mind, though, that few (if any) multinational corporations pay the statutory rate.

On average, I believe the effective rate is anywhere from 5 to 10 points less. If they're paying the statutory rate, they're just not trying very hard.