Report: 'performance pay' loophole cost taxpayers $1 billion in 2009 – 2011.
from the Campaign for America's Future
WASHINGTON DC, May 2, 2013 — Ordinary taxpayers are subsidizing exorbitant executive pay at the corporations leading the push for austerity in the budget debate, according to a new report by the Institute for Policy Studies and Campaign for America’s Future.
The report is the first to put a price tag on the tax breaks specific corporations have enjoyed from a loophole that allows unlimited deductions for executive stock options and other “performance-based” pay. It focuses on corporate members of Fix the Debt, a lobby group that is calling for “shared sacrifice” while quietly advocating for cuts to Social Security and more corporate tax breaks.
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