While fast food workers stage a one-day strike, a report from the Global Economy Project shows how the industry’s CEOs have subsidized their own multimillion dollar salaries with taxpayer funds in addition to saving money by paying employees low wages. Report author Sarah Anderson explains.

Anderson, who is director of the Global Economy Project at the Institute for Policy Studies, told “Democracy Now!” on Thursday of the finding, “this is a perverse loophole in our tax code that essentially means that the more corporations pay their CEO, the less they pay in taxes. And that’s because there is this loophole that allows companies to deduct unlimited amounts from their corporate income taxes for the expense of executive pay, as long as it’s so-called performance pay—so, stock options and other bonuses that are configured in a way to qualify for this tax loophole. And what it means essentially is that ordinary taxpayers are subsidizing excessive CEO pay.”

— Posted by Alexander Reed Kelly.

‘Democracy Now!’:

WAIT, BEFORE YOU GO…

If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.

Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.

SUPPORT TRUTHDIG