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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsMoyers: American Society’s Real Moochers: CEOs
Of Americas 100 top-paid CEOs, 29 worked schemes that enabled them to collect more in compensation than their corporations paid in income taxes. The average pay for these 29: $32 million. For one year. And corporations mangle tax the code to deduct that too.
Holiday bells are silent in the homes of Americas struggling working poor, even with gasoline prices at their lowest levels in years. These are people derided as moochers because their starvation wages force them to accept food stamps to feed their children.
On the other side of town, inside gated communities where guards demand photo ID even from Santa, CEOs Christmas plums are super-sugared with record-breaking corporate profits.
. . .
Of Americas 100 top-paid CEOs, 29 worked schemes that enabled them to collect more in compensation than their corporations paid in income taxes. The average pay for these 29: $32 million. For one year. And corporations mangle tax the code to deduct that too.
Though their corporations reported combined pre-tax profits of $24 billion, they wrangled $238 million in tax refunds out of the federal government. Thats refunds the government gave money to highly profitable corporations.
Thats an effective tax rate of negative one percent.
THE REST:
http://billmoyers.com/2015/01/01/americas-real-moochers-ceos/
Buns_of_Fire
(17,119 posts)RiverLover
(7,830 posts)They shouldn't be allowed to drive their Rolls Royces on roads paid for by actual taxpayers.
Everyone should know this...
Bill Moyers can't retire, and never die. Will someone tell him that?
Initech
(99,915 posts)Enthusiast
(50,983 posts)At one time this nation had effectively progressive income taxes. At that time this was a great nation. A bit misguided perhaps but a great nation nonetheless. No longer.
mountain grammy
(26,571 posts)tclambert
(11,080 posts)They go home every night soaked in sweat, their hands blistered and calloused, their feet bleeding, muscles aching, backs bent, faces filthy with grease and soot, but their consciences clear because their honest effort makes the world a better place.
Or am I thinking of coal miners? Maybe that's coal miners. CEOs are the ones whose minions drive them to work, fetch their coffee, drive them to the club for a long lunch, then take them to a private airport where the CEO and his family take the corporate G5 to a Caribbean island to visit their money, right? Yeah, but their consciences are clear because Ayn Rand told them it's all okay, and because psychopaths don't have much in the way of consciences. So, some similarity to coal miners.
Indydem
(2,642 posts)It was written by Leo Gerard of the AFL-CIO.
Triana
(22,666 posts)Leo Gerard is President of the United Steelworkers Union, which is part of the AFL-CIO: http://inthesetimes.com/community/profile/22360
True Moyers did not write it. It was republished on Moyer's website.
wildbilln864
(13,382 posts)Triana
(22,666 posts)Rather ridiculous, but that worked.
wildbilln864
(13,382 posts)Octafish
(55,745 posts)Now we are to serve them like aristocrats.