We've seen this story in previous years, so this is no surprise ... same s___, different year. The fact that some of these corporations actually received a refund makes it worse, though. This is more evidence that the loopholes in the tax code that allow this kind of behavior by corporations must be closed. That includes loopholes and lax regulations that allow multi-national corporations to move income and expenses and assets around the world among different branches and subsidiaries to minimize their net tax liability.
Revealed: The 26 'kingpin' corporations that paid their CEOs more than they paid in taxes...for most the public paid THEM refund
Aug. 17, 2012 7:40 am
re: Revealed: The 26 'kingpin' corporations that paid their CEOs more than they paid in taxes...for most the public paid THEM refund
Aug. 21, 2012 8:36 am
More on this topic, including a link for the full CEO Hands in Uncle Sam's Pocket study :
CEOs Earn More Than Their Firms Pay in Taxes