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!