Taxpayers subsidize CEO pay, report says

Media Outlet: 

ABC News

An annual "Executive Excess" study found that in 2011, 26 CEOs received more in compensation than their companies paid in taxes, and that four major tax loopholes contributing to excessive executive pay cost taxpayers about $14.4 billion a year. Steven Balsam, an accounting professor at Temple's Fox School of Business, said, “it’s an expense, just like any other person’s salary,” adding that it’s unlikely boards would limit executive pay even if it wasn’t tax deductible.