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104 Comments
- nahsrocketeer75, on 04/01/2008, -4/+23Tax gross-ups are just awful ... at least until someone offers me one.
- zacharytelschow, on 04/01/2008, -7/+24And...?
So what? Good for them. - ADA531, on 04/01/2008, -5/+19Don't hate the playa. Hate the shareholders that allow it.
- inactive, on 04/01/2008, -1/+13I don't even get the car and driver. I drive myself to work each day ... like a sucker.
- IslandDog, on 04/01/2008, -0/+9Because Digg liberals like to show propaganda that make the "rich" seem evil.
- ThomasMarshall, on 04/01/2008, -0/+9Diggers love to hate on the bourgeoisie.
- jflm3, on 04/01/2008, -0/+7Last year Tyco paid $330,200 worth of taxes for their CEO. There are 484.96 million shares outstanding and if you own 100 shares, then you were screwed by a grand total of $0.000068 Also last year those same 100 shares would have given you $95 cash dividends. Being most of you are crying on the basis of what it cost the shareholders, you obviously have no sense investing.
- sembetu, on 04/01/2008, -0/+6My Solution: 15% National Sales Tax :: Abolish the IRS = Problem Solved
- inactive, on 04/01/2008, -1/+7I know of one CEO that lived in a company owned B&B for three years while his 2 million dollars house was built. He got meals, house keeping and maid service all for free. Of course his wife and 4 kids lived with him.
- replaysMike, on 04/01/2008, -1/+7Some of those perks aren't so bad. I mean really, most of these guys get the perks because they do their jobs well. Unfortunately the skill/pay ratio isn't what you'd typically find in a normal position, it's incredibly hiked up and is often equal to the size of the ego of the CEO.
- cowninja, on 04/01/2008, -2/+8This statement shows your ignorance. Google search for “who pays american taxes” and you will quickly see that the top 1% of income earners pay 25% of the taxes. The bottom 50% of income earners pay 3% of taxes.
This is a BENEFIT provided to the employee for agreeing to work at that company. Their tax is still paid and the US taxpayer is not shorted because of this.
http://www.american.com/archive/2007/november-dece ... - JiveRabbit, on 04/01/2008, -1/+7"Oh no, he makes a lot of money and has a good thing going for himself"
"Then just take it, as they obviously don't deserve it."
Dont be jealous, be ambitious and try to do what they did. They did something right, it didn't just fall in their lap. - ADA531, on 04/01/2008, -0/+5The taxes are being paid. They just aren't being paid by the CEO. The general public is not harmed.
- atbnet, on 04/01/2008, -0/+5If you use your brain, you'd figure out that your company pays your taxes too. Yeah some CEOs are worthless, but a good CEO deserves every dollar he is paid. You people act like CEOs get paid just to show up, they have a lot of responsibility or they are out.
- cowninja, on 04/01/2008, -3/+8What exactly is wrong with this? If the company wants to pay my taxes then my debt to society is paid for the year. Why does it matter who's bank account it came out of? The tax is still paid.
- zacharytelschow, on 04/01/2008, -0/+4If a company pays an employee $50,000 or pays an employee $35,000 and pays their taxes, what's the difference?
- Harlot, on 04/01/2008, -1/+5They run the companies that (generally) return good or at least reasonable dividends to shareholders. The decision to do this generally rests on the board of directors or the shareholders, so blame them instead :)
Besides, how many people would decline this if it was offered to them? - IslandDog, on 04/01/2008, -0/+4So what? I guess the government should step in and regulate wages....oh wait...
- brjndr, on 04/01/2008, -0/+3If a company pays your taxes for you, that is income to you, and you then have to pay tax on the gross-up amount in the following year. The companies probably don't reimburse for those taxes. Effectively, they are just paying him a larger salary, and designated a portion that he won't get until his lax liability is determined.
- jcc6655, on 04/01/2008, -1/+4meh as much as I'm jealous for not having this stuff. I don't really see anything wrong with it not everyone can have everything. Overall the system is grossly unbalanced though.
- garths, on 04/01/2008, -1/+41. Accidentally pay too much tax. Get it reimbursed by your employer
2. Years later, retroactively file a tax correction
3. Profit! - TRScheel, on 04/01/2008, -0/+3Either way can be made to sound evil
- ADA531, on 04/01/2008, -2/+5RIIIIIIGHT. I am sure that you have the moral fortitude to turn this down and pay these huge tax bills yourself when the company will give the government its share for you. I think that you are living in a dream world.
- meadot01, on 04/01/2008, -0/+3Yes - the board of directors who is created by the shareholders
- jmpeagle, on 04/01/2008, -0/+3no one deserves any amount of money....that's not the point. If someone is willing to pay him that much, then what is the problem?
- BUrAph, on 04/01/2008, -1/+4Good CEOs create jobs and help the overall economy. Their higher pay means they spend more money and support the economy further (unless they stash all their cash under their bed). They give back to society a lot more than what a normal working class person would. I see no problem in them getting off with lower tax rates.
Those ***** CEOs, on the other hand (like Motorola's technophobic CEO), should all get sacked and end up with nothing... - jmpeagle, on 04/01/2008, -0/+3wealth isn't a fixed pie....that's why economies grow. Someone getting wealthier doesn't necessarily take wealth away from someone else.
- wynja, on 04/01/2008, -0/+3No no no. We just love to hate. It consumes us.
- TheYar, on 04/01/2008, -0/+3It's all part of his compensation. The company just doesn't want to take the risk to their reputation that another CEO will try to skip out on his taxes (like the previous one did), so they mitigate that risk by paying his taxes for him. Makes sense to me.
- cowninja, on 04/01/2008, -1/+4Thats a great idea. Then no one will attempt to better themselves for fear of taxation. What will you do when faced with a job that could earn you over $100k? Turn it down because you don't think you deserve it? It sounds like you are using people who make more money than you as a scape goat for your own failures.
- cowninja, on 04/01/2008, -0/+3I was going to reply and ask to see your earning and giving statements before you cast a stone. Then I realized you are a troll. Well played.
- wynja, on 04/01/2008, -2/+4Actually, the CEO compensation is not dictated by the shareholders but by the board of directors.
- BUrAph, on 04/01/2008, -0/+2Your third sentence is true. The rest of your argument is *****. Why is the economy in the ***** right now? It's because the savings rate is so low. Americans on average spend 100% of their personal disposable income a year. The economy would be a lot stronger today if your average American would save a little and invest the money (stock market, bonds, low internet bank account etc...).
My point is: While Billionaire Billy G does not spend most of his income like middle class Average Joe, he IS still helping the economy by investing the money. So unless he stashes the cash under his bed and lets it collect dust, or sends it off to a Swiss bank account, his money is being put to good use somewhere in the economy. - inactive, on 04/01/2008, -5/+7Sounds like a good deal to me, especially if they also cover the pyramid scheme (Social Security) taxes.
This issue is between the shareholders and the board of directors. - ADA531, on 04/01/2008, -1/+3The shareholders allowed it to happen. They allowed the board to act in such a manner on their behalf, didn't they? The shareholders here would represent the voices of the people. Often, the board's view on extracting profit from the company is no better than the CEO's.
- cowninja, on 04/01/2008, -0/+2wrong thread.
- ADA531, on 04/01/2008, -1/+3Step 3 should actually read: ????
Then, Step 4: Profit! - jmpeagle, on 04/01/2008, -0/+2well now I know you aren't serious because capitalism has decreased the numbers of the world's poor by much more than any aid scheme ever envisioned.
- tkloppel, on 04/01/2008, -4/+6Why is this being dugg? Who cares?
- scamper22, on 04/01/2008, -0/+2Actually all companies should do this so you know exactly what your salary is.
I mean if we made the tax system simple enough, they very well could do this.
It's like in europe where the VAT is included in the price. You come to NA, and the price you see is not the real price. You have manually add sales taxes on top of it. - inactive, on 04/02/2008, -0/+2Funny how people have so much hate for CEO's that make money running a successful company but worship peon celebrities like Brad Pitt and George Clooney who make much more money for regurgitating lines on a script.
- govsucks, on 04/01/2008, -0/+2so, whats your debt to society? Do you owe less to society just because you didn't study in school or had a poor family? If all humans are equal shouldn't they all pay a equal amount in debt to society....sorry I know this is way more logic than a leftist can deal with.
- jbcsee, on 04/01/2008, -0/+2edwartica your a moron...offense intended.
As one of those people who makes $100k or more I can tell you that it is not much money. First the IRS takes 26%, then the state takes another 9%, then you've got Social Security, Disability, Health Insurance, etc... So I bring home less then 50% of that.
Now to make that much money I live in one of the most expensive parts of the US, so my rent for a small one-bedroom place is $1600/mo. Which comes out to a little under half of what I bring home after all the taxes and fees I have to pay. The consider food, electricity, heating gas (I don't drive) and renters insurance. Add on college loans since I came from a poor family and had to pay for my own college. Well all told I have to spend about 75% of my bring home on essentials.
Now your still thinking I have 12% of some number larger then $100k extra each year so I'm fine? Not if I ever want to insure myself against the collapse of social security or the loss of a job. Besides to earn that pitiful amount of money I had to earn three college degrees and I work 60+ hours a week. - MammasMilk, on 04/01/2008, -1/+3If the CEO is worth so much, then why not increase his/her pay and let them pay their own taxes... like the rest of us.
- smurfsahoy, on 04/01/2008, -0/+2Uh, the vast majority of the time, it did indeed fall into their lap.
- nydwarf, on 04/01/2008, -0/+2Is the company funded tax payments considered a taxable benefit? :)
- tcpip4lyfe, on 04/01/2008, -0/+2Step 5: audit
- clmarcha, on 04/01/2008, -0/+2This would likely all be considered compensation by the IRS, he would have to pay taxes on it just like if the company paid him the money directly.
- kmichal, on 04/01/2008, -0/+2Don't hate the playa OR the shareholders..hate IRS for extorting money.
- jflm3, on 04/01/2008, -0/+2you obviously don't know what sarcasm is
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