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Argenberg via Creative Commons
One-quarter of 100 biggest US firms paid CEO more than company tax bill
Chief executives at the largest firms in the US earned more from their companies than the taxman last year.
TWENTY-FIVE OF THE 100 largest US corporations paid their chief executives more last year than they paid in federal income taxes, according to a report released Wednesday.
The nonprofit Institute for Public Accuracy says the 25 CEOs averaged $16.7 million (€11.6 million) in salary and other 2010 compensation.
Most of the companies they ran, meanwhile, came out ahead at tax time. They collected tax refunds that averaged $304 million (€211.5), based on a review of public filings.
The think tank says the 25 firms that paid out more in CEO compensation than US taxes reported average global profits of $1.9 billion (€1.32 bn).
The institute, based in San Francisco, describes itself as a national consortium of independent analysts and activists with progressive views who work with social movements to challenge corporate influence and military power.
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