Highest-Paid CEOs Often Earn More Than Company Pays In Income Taxes, Study Finds
First Posted: 8/31/11 07:58 AM ET Updated: 8/31/11 12:25 PM ET
WASHINGTON – 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 said on Wednesday.
It also found many of the companies spent more on lobbying than they did on taxes.
At a time when lawmakers are facing tough choices in a quest to slash the national debt, the report from the Institute for Policy Studies (IPS), a left-leaning Washington think tank, quickly hit a nerve.