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Top Execs Earn 350 Times The Salary of Average American Worker (Audio)
August 25, 2008
Original publication: Connecticut Public Broadcasting Network
Date of publication: August 25, 2008
"The more companies overpay their top executives, the less they pay in taxes. That's because the tax code allows corporations to deduct their pay expenses as a legitimate business expense."
Pizzigati says other factors that contribute to high salary packages include unlimited preferred compensation where executives are allowed to invest in accounts with guaranteed returns unlike most Americans who have 401ks and see their investments go up and down.
Peter Gleason, Managing Director and CFO for the National Association of Corporate Directors says leveling the salary field between CEOs and employees must first be tied to improving performance measurements.