Activists Target Corporate Chiefs' Tax Subsidies
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. Inter Press Service.
Posted inOriginal publication: Inter Press Service
Date of publication: 08/26/2008
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.