Explore our content

All types | All dates | All authors
Institute for Policy Studies

Pages

Quick Hit
by Ellyn Fortino
4:57pm
Wed Sep 28, 2016

Report: U.S. Taxpayers Subsidized $725 Million In Wall Street CEO Bonuses In The Last Four Years

Twenty leading U.S. banks collectively paid their top five executives $2 billion in tax-deductible bonuses between 2012 and 2015, according to a recent report examining Wall Street CEO pay.

That $2 billion figure works out to be a tax break valued at $725 million, or $1.7 million per executive per year, the Institute for Policy Studies (IPS), a progressive think tank, found.

"Taxpayers should not have to subsidize excessive CEO bonuses at any corporation," report co-author and IPS Global Economy Project Director Sarah Anderson said in a statement. "But such subsidies are particularly troubling when they prop up a pay system that encourages the reckless behavior which caused one devastating national crisis -- and could cause more in the future."

PI Original
by Ellyn Fortino
3:28pm
Mon Aug 22, 2016

Fair Economy Activists Arrested At Protest Against Corporate 'Tax Dodgers' (VIDEO) (UPDATED)

Members of Fair Economy Illinois took aim at corporate "tax dodgers" during a Monday afternoon protest outside Exelon's Chicago offices. Activists danced the Electric Slide in the street, and 10 protesters were ultimately arrested after they sat down in a downtown intersection and refused to move.

PI Original
by Ellyn Fortino
1:33pm
Thu Jul 28, 2016

Report: U.S. Utility Companies 'Have Become Expert Tax Dodgers'

Profitable U.S. utility companies are not paying their "fair share" in taxes, according to a new report from the Institute for Policy Studies. 

Quick Hit
by Ellyn Fortino
6:32pm
Thu Feb 25, 2016

The Forbes 400 Are Wealthier Than 194 Million Americans Combined

The 400 richest Americans have as much combined wealth as all African-American households in the United States plus a third of those headed by Latinos.

That jaw-dropping stat comes from a recent report by the Institute for Policy Studies (IPS), a left-leaning think tank that examined the wealth concentration among the Forbes 400 billionaires, who are collectively worth a record $2.34 trillion.

Forbes 400 members, including just two African Americans and five Latinos, are wealthier than the entire bottom 61 percent of the U.S. population, representing 194 million people or 70 million households.

America's 20 wealthiest individuals alone (17 men and three women, all of whom are white) currently "own more wealth than the bottom half of the American population combined, a total of 152 million people in 57 million households," according to the report.

The wealth divide is even more striking when compared along racial lines.

PI Original
by Ellyn Fortino
4:10pm
Fri Nov 13, 2015

Top 100 CEOs Have As Much In Retirement Assets As 50 Million U.S. Families

The top 100 U.S. CEOs have as much in their retirement accounts as more than 50 million American families combined, a recent analysis shows. 

Quick Hit
by Ellyn Fortino
6:37pm
Mon Apr 20, 2015

Report: 2014 Wall Street Bonuses Were Double The Earnings Of 1 Million Low-Wage Workers

recent report from the Institute for Policy Studies (IPS) reveals that Wall Street employees received $28.5 billion in combined bonuses last year.

That works out to be double the collective annual earnings of the more than one million full-time U.S. workers who made the federal minimum wage in 2014. At the national level, the hourly minimum wage is $7.25.

The $28.5 billion in bonuses was spread out among 167,800 Wall Street bank employees, according to the Washington, D.C.-based think tank.

"The size of the [2014 Wall Street] bonus pool was 27 percent higher than in 2009, the last time Congress increased the minimum wage," reads the report, "Off the Deep End: The Wall Street Bonus Pool and Low-Wage Workers."

Quick Hit
by Ellyn Fortino
12:51pm
Thu Jan 29, 2015

Study: Several U.S. Corporations 'Fleecing' Uncle Sam, Spending More On CEOs

A number of large U.S. corporations spent more on executive compensation than federal income taxes in 2013, according to a recent analysis by the Institute for Policy Studies and the Center for Effective Government.

Seven out of the 30 largest U.S. corporations examined for the "Fleecing Uncle Sam" report -- including Boeing Co., Ford Motor Co., Chevron Corporation, CitiGroup Inc., Verizon Communications, JPMorgan Chase & Co. and General Motors Co. -- spent $121 million on total compensation for their seven CEOs in 2013. On average, that's $17.3 million per CEO.

The seven firms reported over $74 billion in combined U.S. pre-tax income in 2013, but they collectively raked in nearly $1.9 billion in U.S. corporate income tax refunds that year. As such, the average effective tax rate in 2013 for the seven corporations was negative 2.5 percent, the analysis found.

"If the seven giant, highly-profitable corporations that paid their CEOs more than Uncle Sam had paid the full statutory corporate tax rate of 35 percent, they would've owed $25.9 billion in federal taxes," the report states. "Instead they received $1.9 billion in refunds, for a total difference of $27.8 billion."

Quick Hit
by Ellyn Fortino
1:05pm
Fri Sep 5, 2014

Report: Obamacare Curbed Taxpayer Subsidies For Health Insurer Executive Pay

The 2010 Affordable Care Act (ACA) sharply reduced taxpayer subsidies last year for executive pay at the nation's 10 largest publicly held health insurance companies, according to a new report by the Institute for Policy Studies (IPS), a Washington-D.C.-based think tank.

Last year, an ACA provision took effect that put a $500,000 cap on the tax deductibility of health insurer executive compensation. Previously, the companies had a $1 million limit on the deductibility of executive pay from federal corporate income taxes. Now, health insurance companies are allowed to deduct only up to $500,000 in combined performance-based and salary pay per employee each year.

As a result of the deductibility limits under the health reform legislation known as Obamacare, the country's top 10 health insurers saw their collective corporate taxes increase by an estimated $72 million in 2013, according to the report, "Executive Excess 2014: The Obamacare Prescription for Bloated CEO Pay."

Quick Hit
by Ellyn Fortino
5:21pm
Tue Jun 17, 2014

Report: Walmart Received $104 Million Taxpayer Subsidy For Executive Pay

recent report reveals that Walmart raked in taxpayer subsidies totaling $104 million for its executive pay over the past six years at the same time many of the retailer'slowest-paid workers have had to rely on public assistance to meet their basic needs.

Taxpayers subsidized the pay for top Walmart officials due to what critics say is a loophole that allows unlimited corporate tax write-offs on performance-based compensation for executives.

Pages