You are hereThe Examiner: Cheating America- 25 CEOs who make more than their companies pay in taxes

The Examiner: Cheating America- 25 CEOs who make more than their companies pay in taxes


-By Robert Sobel

August 31, 2011- The growing gap between the rich and the poor in the United States is at an all time high. Over the last thirty years, since the destructive Reagan Administration, the once proud middle class that helped build the country from the ground up has taken a beating. As big business has bought its way into the pockets of our elected officials, the "average Joe" has been the one who has really been paying the price. Since the 1980s, the rate of CEO pay has sky rocketed while the rate of the worker has stayed stagnant. More Americans have lost their jobs as companies have taken full advantage of the free trade agreements we have and have created jobs in other countries where workers will accept pathetically low wages.

According to a new study by the Institute for Policy Studies has come to find that 25 of the top CEO's, including from companies like Verizon, Coca-Cola & General Electric, were paid more money than their companies paid the government in taxes. This should not come as a surprise, the laws that give these companies the ability to weasel their way into not paying their fair share got their on purpose. These big companies spend big money lobbying in Washington to pay off politicians so they can enact the laws that let them get away with this. Verizon alone paid nearly $17 million towards lobbying and almost another $19 million towards campaign contributions for their favorite Republican friends. The politicians that are bought off need to be voted out, and replaced with people who will represent real Americans. The corporate loop holes and tax cuts that do nothing but add to the bank accounts of the big wigs of the companies should be replaced by a fair tax that benefits everyone and not just a select few. Real reform in trade and the tax code has to happen to get the country back on track.

Americans need to get together to unite as a single voice for the middle class. As the rich get richer and the rest of the country continues to struggle, something clearly needs to be done. The average American worker might not be able to buy their way to a true democracy, but together their voice can be heard, it might be their only chance left.

Names to the numbers- 25 Top CEO's getting paid more than the companies pay in taxes

1. GENERAL ELECTRIC CEO. : Jeff Immelt
2010 Pay: $15,199,762
U.S. Corporate Income Taxes Paid, 2010: -$3.2 billion

2. ALLEGHENY TECHNOLOGIES CEO: Patrick Hassey
2010 Pay: $14,978,587
U.S. Corporate Income Taxes Paid, 2010: -$47 million

3. MYLAN LABORATORIES CEO: Robert Coury
2010 Pay: $14,975,235
U.S. Corporate Income Taxes Paid, 2010: -$73 million

4. WYNN RESORTS LTD CEO: Steve Wynn
2010 Pay: $14,615,779
U.S. Corporate Income Taxes Paid, 2010: $0

5. CAPITAL ONE FINANCIAL CEO: Richard Fairbank
2010 Pay: $14,850,675
U.S. Corporate Income Taxes Paid, 2010: -$152 million

6. MARSH & MCLENNAN CEO: Brian Duperreault
2010 Pay: $14,038,187
U.S. Corporate Income Taxes Paid, 2010: -$90 million

7. BOEING CEO: Jim McNerney
2010 Pay: $13,768,019
U.S. Corporate Income Taxes Paid, 2010: $13 million

8. MOTOROLA SYSTEMS CEO: Gregory Q. Brown
2010 Pay: $13,732,802
U.S. Corporate Income Taxes Paid, 2010: $7 million

9. NABORS INDUSTRIES CEO: Eugene Isenberg
2010 Pay: $13,537,486
U.S. Corporate Income Taxes Paid, 2010: -$138 million

10. QWEST COMMUNICATIONS CEO: Edward Mueller
2010 Pay: $13,446,399
U.S. Corporate Income Taxes Paid, 2010: -$14 million

FULL STORY HERE:

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