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BUSINESS

Some Companies Pay More to CEOs Than in Taxes

GE, Boeing, Verizon dish out executive compensation.

cheats/2011/08/31/companies-pay-more-to-ceos-than-taxes/iraq-money-cheat_vclpbt

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

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