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.

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