The Most Anti-Business Administration Ever

Well, not really.

Not that this comes as a shock, but the CEOs of some of the nations largest corporations received higher salaries last year than their respective companies paid in taxes.

WASHINGTON (Reuters) – Twenty-five of the 100 highest paid U.S. CEOs earned more last year than their companies paid in federal income tax, a pay study by a Washington think tank said on Wednesday. [...]

The institute compared CEO pay to current U.S. taxes paid, excluding foreign and state and local taxes that may have been paid, as well as deferred taxes which can often be far larger than current taxes paid.

The group’s rationale was that U.S. taxes paid are the closest approximation in public documents to what companies may have actually written a check for last year. It said deferred taxes may or may not be paid. [...]

Two-thirds of the firms studied kept their taxes low by utilizing offshore subsidiaries in tax havens such as Bermuda, Singapore and Luxembourg. The remaining companies benefited from accelerated depreciation.

Clearly we are living under the most anti-business administration in history with its boot placed firmly on the neck of Corporate America and its glorious CEOs.

This administration has even gone so far as to refuse to repatriate all of those record profits during a tax-holiday in an effort to preserve what little taxes Corporate America actually does pay. The audacity!

Leave Corporate America alone!

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  • Chachizel

    WE know that the Republicans have no real basis for a lot of their stupid anti-Obama rhetoric, but the problem is that their base does not know it. In their Fox News/AM radio world, they only know the bullshit that they’re fed. If you don’t know, you don’t know.

  • Rick Janes

    I’ve talked to some Teabaggers: in their Fox-GOP Fantasy World, Obama is as socialist as Fidel Castro and giving away money to ‘undeserving’ (read gay, black or Hispanic) welfare recipients while raising taxes on whitey to pay for it. When you confront them with facts such as those contained in the above article, or ask them to confirm what they’re saying outside of right-wing media (and they won’t accept even Murdoch’s WSJ as a factual source since they’re ‘soft on Romney’), they get very angry and start shouting, usually incoherently. You see, to the Teabaggers, volume equals veracity. Pathetically, as they lose their jobs, savings, pensions, retirement benefits and homes, they’d rather blame it all on ‘Obama and the socialist Democrats’ then a Republican, even Bush. According to their hallucinated history, our economic problems all started the day Obama was inaugurated and had nothing to do with eight years of the Crawford Dauphin.