Compensation for 25 of the highest-paid U.S. CEOs exceeded the amount their corporations paid in taxes in 2010, according to a study published by a Washington think tank Wednesday.

General Electric’s Jeff Immelt, Boeing’s Jim McNerney and eBay’s John Donahoe were among the high-earning CEOs featured in the Institute for Policy Studies’ report, making $15.2 million, $13.8 million and $12.4 million in 2010 respectively. Company spokespersons balked at the findings, calling them “inaccurate” and “simply wrong.” A majority of the firms reviewed reduced their tax obligations by using offshore tax shelters. –ARK


Twenty-five of the 100 highest paid U.S. CEOs earned more last year than their companies paid in federal income tax, a pay study by a Washington think tank said on Wednesday.

At a time when lawmakers are facing tough choices in a quest to slash the national debt, the Institute for Policy Studies, a left-leaning group, said it also found many of the companies spent more on lobbying than they did on taxes.

… The institute compared CEO pay to current U.S. taxes paid, excluding foreign and state and local taxes that may have been paid, as well as deferred taxes which can often be far larger than current taxes paid.

Read more

Your support matters…

Independent journalism is under threat and overshadowed by heavily funded mainstream media.

You can help level the playing field. Become a member.

Your tax-deductible contribution keeps us digging beneath the headlines to give you thought-provoking, investigative reporting and analysis that unearths what's really happening- without compromise.

Give today to support our courageous, independent journalists.