A new study reveals that 25 of the nation’s largest corporations paid
more money to their CEOs last year than they did to the federal
government in income taxes. Often using overseas tax havens, many of the
corporations managed to make billions in profits but paid little to
nothing in federal taxes. In many cases the companies received large tax
rebates. The list includes some of the country’s best-known companies,
such as Ford, Coca-Cola, Verizon, General Electric and eBay. The same
study found that the ratio of CEO pay to that
of the average worker in the United States jumped to 325-to-1 last year.
We speak to the study’s co-author, Chuck Collins, a senior scholar at
the Institute for Policy Studies and director of its Program on
Inequality and the Common Good. "What these companies do is they use a
variety of tax loopholes, corporate loopholes, to game down their taxes.
So, these are what I would call the sort of champion in the tax
gymnastics department," says Collins.Video
Source: Democracy Now!
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