It pays not to pay your taxes
Here’s a a little bit of interesting information I picked up yesterday from the AFL-CIO Blog I subscribe to – Of last year’s 100 highest-paid U.S. corporate chief executives, 25 took home more in CEO pay than their company paid in 2010 federal corporate income taxes, according to a new report from the Institute for Policy Studies. The report also reveals that in addition to handing their CEOs big dollars, 20 of the 25 corporations in the study spent more on lobbying lawmakers than they paid in corporate taxes. Think there’s a connection?
I wonder if there is a think tank or reserach institute in the UK, or just someone with a little time on their hands, who would do the same study of the FTSE 100. Would we find much difference amonst our tax avoiding bosses particularly now the banks, doubtless after heavy lobbying, have been given the green light by their Tory friends to go on doing what they do so well – lining their own and their friends pockets at our expense?