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Activists Target Corporate Chiefs' Tax Subsidies
August 26, 2008
Original publication: Inter Press Service
Date of publication: August 26, 2008
U.S. taxpayers shell out 20 billion dollars a
year to pad business chiefs' earnings and to prop up the world's most
lopsided corporate pay scales, say activists seeking to highlight
inequality in this election year.
Various tax and accounting loopholes encourage excessive executive pay and serve to allow company chiefs to pay taxes at lower rates than their employees, the groups Institute for Policy Studies and United for a Fair Economy said on Monday. Taxpayers foot the bill in the form of forgone public revenues, they added in a report.