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Institute for Policy Studies
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  • May 3, 2013

    Fox Business News features report “"Fix the Debt" CEOs Enjoy Taxpayer-Subsidized Pay”

    Visit the publisher's websiteSee the report

    Ms. Anderson's study calculates that 90 corporate members of Fix The Debt paid their CEOs and their next three-highest paid executives more than $6.3 billion between 2009 and 2011. For shelling out this largesse, these companies received tax breaks worth as much as $1.6 billion over that same period, the study estimates.

    However one crunches these numbers, one thing is certain: These guys won't be needing Medicare or Social Security. What is not certain is whether their performance-based pay is truly taxpayer subsidized as the study claims.

  • May 2, 2013

    Salon.com features report “"Fix the Debt" CEOs Enjoy Taxpayer-Subsidized Pay”

    Visit the publisher's websiteSee the report

    The report, from the liberal Institute for Policy Studies, finds that between 2009 and 2011, top executives at the 90 publicly held corporate members of the Fix the Debt coalition raked in at least $953 million — and as much as $1.6 billion — through the “performance pay” loophole, which counts some executive compensation as a tax-deductible business expense, instead of a salary.

    . . . “The very taxpayers who pay into and depend on these programs and benefits are subsidizing excessive compensation for the top executives of Fix the Debt member corporations and other large firms,” the report’s authors wrote.

    . . . “If Fix the Debt CEOs were serious about addressing our nation’s fiscal challenges, they would push for greater fairness in the tax code, including the elimination of entitlement programs benefiting CEOs like the ‘performance pay’ loophole,” the authors wrote.

  • May 2, 2013

    The Merced (CA) Sun-Star features article “Pro-Austerity CEOs Rake in Taxpayer-Subsidized Pay”

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  • May 2, 2013

    The Bradenton (FL) Herald features article “Pro-Austerity CEOs Rake in Taxpayer-Subsidized Pay”

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  • May 2, 2013

    The Kansas City Star features article “Pro-Austerity CEOs Rake in Taxpayer-Subsidized Pay”

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  • May 2, 2013

    The Huffington Post features report “"Fix the Debt" CEOs Enjoy Taxpayer-Subsidized Pay”

    Visit the publisher's websiteSee the report

    "Companies in the Fix the Debt coalition, which advocates for federal austerity policies, qualified for $1 billion or more in tax breaks tied to executive pay packages from 2009 to 2011, according to a new report by the liberal think tanks Institute for Policy Studies and Campaign for America's Future.

    "The four highest-paid executives at the firms received a total of $6.3 billion in pay over the period, according to the report. Federal tax law allows companies to deduct executive pay based on performance from the firm's tax bill as a business expense. This performance-based compensation includes stock options, stock awards and other types of incentive pay. These 90 companies qualified for tax perks totaling between $1 billion and $1.5 billion over the course of three years, depending on how many types of pay firms actually deducted."

  • May 2, 2013

    The Hill features report “"Fix the Debt" CEOs Enjoy Taxpayer-Subsidized Pay”

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    "Corporations backing a broad deal to reduce deficits have racked up millions of dollars of savings from the tax treatment of executive compensation, according to a new study from liberal groups.

    "The study found that the 88 of the 90 publicly-held companies aligned with the Campaign Fix the Debt used an took advantage of an incentive for performance-based payments like stock options.

    "For around two decades now, corporations have only been able to write off up to $1 million of executive pay – but, as the Institute for Policy Studies and the Campaign for America’s Future note, that limit does not apply to performance-related compensation.

    "In all, corporations in Fix the Debt were able to save anywhere from $953 million to $1.6 billion between 2009 and 2011 because of the tax treatment of performance-based pay, the study says."

  • May 2, 2013

    Dow Jones features report “"Fix the Debt" CEOs Enjoy Taxpayer-Subsidized Pay”

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    "Fix The Debt, the group pushing Congress to do something about runaway deficit spending, is loaded with highly compensated CEOs who know more about prosperity than austerity.

    "They want to close tax loopholes, but they haven't yet mentioned that part of the tax code that encourages their companies to pay them millions in performance-based pay each year.

    "'Before they start calling for cuts that will have a huge impact on ordinary Americans, they should look at the ways they've been contributing to the deficit,' said Sarah Anderson of the Institute for Policy Studies in Washington.

    "Anderson is one of the authors of a study that her group released Thursday called, 'Fix The Debt CEOs Enjoy Taxpayer-Subsidized Pay.'"

  • May 2, 2013

    Think Progress features report “"Fix the Debt" CEOs Enjoy Taxpayer-Subsidized Pay”

    Visit the publisher's websiteSee the report

    A new report from the Institute for Policy Studies and Campaign for America’s Future finds that 90 member firms took in somewhere between $953 million and $1.6 billion through the ability to deduct performance pay from corporate taxes between 2009 and 2011. The report includes the biggest winners of this loophole.

  • May 2, 2013

    Daily Kos features report “"Fix the Debt" CEOs Enjoy Taxpayer-Subsidized Pay”

    Visit the publisher's websiteSee the report

    Two important progressive organizations, the Institute for Policy Studies and the Campaign for America's Future, today jointly released Fix the Debt" CEOs Enjoy Taxpayer-Subsidized Pay . . . 

    The report is the first to put a price tag on the tax breaks specific corporations have enjoyed from a loophole that allows unlimited deductions for executive stock options and other “performance-based” pay.

    I am not going to quote more from either the summary or the report itself.   You should read the report.

    Instead I want to offer a few remarks about the implications of this practice.

    -  executives are being rewarded even if their actions do not benefit the shareholders . . .

    - for all their bloviating about how we can't "afford" the social safety-net programs such as Social Security and Medicare -  into which we have been paying based on a supposed commitment of benefits - none of these people have to worry about the impact of cutting benefits whether by using chained-CPI or by raising age for eligibility.

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