Top 25 CEOs earn more than their company's tax bills

Discussion in 'Politics, Religion, Social Issues' started by eawmp1, Aug 31, 2011.

  1. eawmp1 macrumors 601

    eawmp1

    Joined:
    Feb 19, 2008
    Location:
    FL
    #1
    Check this out: http://www.bloomberg.com/news/2011-08-31/ceos-earned-more-than-their-companies-tax-bills-study-finds.html


    And I'll bet the CEO's percentage of income paid in personal income tax is lower than mine.
     
  2. bassfingers macrumors 6502

    bassfingers

    Joined:
    Nov 15, 2010
    #2
    That's why we need a flat tax :D

    Go online, multiply how much you make by x percent, pay it. Done.

    No tax benefits, workarounds, or havens.
     
  3. eawmp1 thread starter macrumors 601

    eawmp1

    Joined:
    Feb 19, 2008
    Location:
    FL
    #3
    This would just swell the ranks of the unemployed with H&R Block preparers and IRS employees.
     
  4. bassfingers macrumors 6502

    bassfingers

    Joined:
    Nov 15, 2010
    #4
    This is a joke right? The horrendously confusing tax code is good because it creates IRS jobs? That honestly can't be your opinion.
     
  5. mkrishnan Moderator emeritus

    mkrishnan

    Joined:
    Jan 9, 2004
    Location:
    Grand Rapids, MI, USA
    #5
    The Economist had a blog about corporate flat tax earlier in the years... the rub is in tying the flattening of the tax code to elimination of loopholes and tax breaks. If you do one without the other, the result will be catastrophic loss of government income, a regressive tax break (since the poor will play the flat tax and the rich will get out of much of it) not to mention a tax code that is about as flat as the Earth is.
     
  6. maril1111 macrumors 68000

    maril1111

    Joined:
    Mar 14, 2010
    Location:
    Denmark
    #6
    They should just visit Scandinavia and suddenly they wouldn't be that rich anymore. Denmark has a really high and strict tax system good for some but overall pretty damn high:

    http://www.skm.dk/public/dokumenter/engelsk/Danish%20Tax%20Reform_2010.pdf

    Up to about 50% of your income can be taxed if you earn over a certain amount of money. if I remember correctly it was 348000DKK = 67 446.924 U.S. dollars
     
  7. GfPQqmcRKUvP macrumors 68040

    GfPQqmcRKUvP

    Joined:
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    Location:
    Terminus
    #7
    OK, hold up just a minute. Of course they're paid more than the tax bill if you're looking at companies with TAX BENEFITS. A $1 salary would be larger. Do you realize how these tax benefits arise?
     
  8. mcrain macrumors 68000

    mcrain

    Joined:
    Feb 8, 2002
    Location:
    Illinois
    #8
    I do.
     
  9. Pachang macrumors regular

    Joined:
    Dec 17, 2009
    #9
    Not really surprising that a lot of CEOs get paid more than the company pays in taxes. A lot of companies don't pay tax at all or even get money from the government.

    For example: GE didn't pay any tax in 2010 and got a $1.1 billion dollar tax
    benefit. Not really surprising as the CEO of GE, Jeffery Immelt is on Obama's Economic recovery advisory board and he appointed him Chairman of his new Jobs council.

    It is a stupid system. Just lower taxes and get rid of all the tax breaks. All these companies would just spend less money finding loopholes and hiring accountants and invest more.
     

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