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Archive for August 20th, 2012

Oink

While austerity hits everyday Americans, seemingly scarce tax dollars are being squeezed from their pockets to fund exorbitant CEO pay, according to a report released Thursday from the Institute for Policy Studies (IPS).

image: Institute for Policy Studies According to the thinktank’s 19th consecutive Executive Excess report, The CEO Hands in Uncle Sam’s Pocket, “Our nation’s tax code has become a powerful enabler of bloated CEO pay.”

For example, the report states that “26 U.S. corporations last year gave their CEO more than they paid in taxes to Uncle Sam.” The CEOs at those corporations received a staggering $20.4 million in average total compensation — a 23% increase above the previous year.”

Among the CEOs detailed in IPS’s report are these five who received more in compensation than their corporations paid in federal income tax:

 

Name of CEO Corporation 2011 CEO Compensation 2011 Federal Income Tax Bottom Line for Corporation
Vikram Pandit Citigroup $14.9 million $144 million refund
Miles D. White  Abbott Laboratories $19.0 million $586 million refund
Randall Stephenson  AT&T $18.7 million $420 million refund
James McNerney Boeing $18.4 million $605 million refund
Robert Benmosche American International Group $13.9 million $208 million refund
Aubrey McClendon Chesapeake Energy $17.9 million $13 million payment

Read the rest

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Finally

I have long said that most people in this country who call themselves “prolife” should really call themselves “pro American fetal life”, as so many of them exhibit so little care about any other kind.

Apparently some of them agree. The other day I saw a yard sign that said:

“BE PATRIOTIC!

VOTE PROLIFE!

Protect the Unborn American.”

I found the honesty refreshing.

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The Giving Poor

From NPR:

“Ever wonder how charitable the people are who live in your state or community? It turns out that lower-income people tend to donate a much bigger share of their discretionary incomes than wealthier people do. And rich people are more generous when they live among those who aren’t so rich.

That’s according to a new study by the Chronicle of Philanthropy, which breaks charitable giving down by ZIP code. It found that generosity varies greatly from one region of the country to another.”

Read the NPR story here.

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