Some Companies Pay More to CEOs Than in Taxes

    Dollar weakens.File photo dated 30/11/2006 of a bundle of $100 bills lying on the counter at the 'TT Foreign Exchange' Bureau de Change, on Oxford Street in London. The dollar continued its decline against the world's major currencies today as traders braced themselves for more action to prop up the US recovery. Issue date: Friday October 15 2010. Earlier this week, minutes from a meeting of the US Federal Reserve revealed the central bank was leaning towards pumping more money into the world's biggest economy - known as quantitative easing (QE) - in a bid to jump-start growth. See PA story CITY Dollar. Photo credit should read: Clara Molden/PA Wire URN:9625968 (Press Association via AP Images)

    Clara Molden

    At least 25 companies paid more to their CEOs last year than they paid in federal taxes, according to the Institute for Policy Studies. These include big corporations like General Electric, Boeing, Verizon, and eBay. The companies paid their executives an average of $16.8 million in 2010. Meanwhile, many of these companies actually receive tax refunds from the federal government valued at hundreds of millions of dollars. Verizon, for example, gave its CEO an $18 million package while reaping a $705 million tax refund.

    Read it at The New York Times