Study: 7 of Top 30 US Corporations Paid Less In Taxes Than to CEOs in 2013
Today’s Chicago Tribune printed a Reuters story from yesterday, reporting the findings of a study conducted jointly by the Institute for Policy Studies and the Center for Effective Government.
Amid talk in Washington about corporate tax reform, the study said the seven companies, which in 2013 reported more than $74 billion in combined U.S. pre-tax profits, came out ahead on their taxes, gaining $1.9 billion more than they owed.
At the same time, the CEOs at each of the seven companies last year was paid an average of $17.3 million, said the study, compiled by two Washington think tanks.
The seven companies cited were Boeing, Ford, Chevron, Citigroup, Verizon, JPMorgan Chase and General Motors.
Verizon is disputing these findings, while most of the others have explanations why they paid so little in taxes.
Elsewhere in today’s Chicago Tribune, there was a story about miserable conditions in American airports.
“If you hate traveling around Thanksgiving because of the crowds and chaos, unfortunately we’re well within sight of a time when it’s going tobe like that every time you head to the airport,” said U.S. Travel Association CEO Roger Dow.
“The U.S. air travel system was once the envy of the world, but now there is not a single U.S. airport ranked in the top 25 worldwide,” Dow said. “Major investments in air travel infrastructure are desperately needed to restore service to even basic levels of adequacy, let alone cope with the expected coming demand.”
Probably no connection whatsoever between these two stories…right?