Citigroup, Abbott Laboratories, and AT&T are among the 26 companies that paid more to their CEOs in 2011 than they did in U.S. federal taxes, according to a study released on Thursday.Uh huh. The issue is not whether they paid taxes or even owed taxes, which suggests they're all concerned about the study.
Tax breaks on research and development, past losses, and foreign-held earnings were among those lightening the tax load for many companies on the list, said the Institute for Policy Studies, a left-leaning think tank in Washington, D.C.
Citi, Abbott and AT&T all took issue with the institute's methodology. All three said they paid all taxes owed in 2011.
Elections | Economic Crisis | Jobs | TSA | Limbaugh | Fun Stuff
US businesses paying more to CEO's than to US government
While the businesses profit enormously from the overall business environment in the US, shareholders and employees usually don't enjoy quality CEOs. There's nothing that suggests higher pay is linked to better corporate performance though you'd never know it by looking at the annual pay of the pampered class. CNBC: