Super Foods
CEO Madness: Corporate Tax Dodgers
Monsanto CEO Hugh Grant
This is insane but true. Out of the 100 highest paid companies in US, 25 pay more to their CEOs than they do in taxes.
Black & Decker CEO, John Lundgren earned $32 million
Black & Decker received a $75 million tax refund
Ford CEO, Alan Mulally earned $26 million
Ford received a $69 million tax refund
Verizon CEO, Ivan Seidenberg earned $18 million
Verizon received a $705 million tax refund
Ebay CEO, John Donahue earned $12 million
Ebay received a $131 million refund
GE (owner of NBC) CEO, Jeff Immelt earned $15 million
GE (owner of NBC) received a 3.25 BILLION DOLLAR tax refund
In addition, CEO’s are being paid more today than ever. Let’s look at a ratio showing average CEO pay to employee pay.
In 1980, the average CEO to employee pay was: 42 to 1
IN 2010, the average CEO to employee pay was: 325 to 1
These companies often claim deferred taxes, but these kind of taxes can very well be paid never. This is disgusting in my opinion.
20 of the 25 companies paid more in lobbyist, than they did in taxes.
Example:
GE paid $42 million in lobbying.
And received $3.25 billion tax break.
source: executive excess report 2011