Chiefs earn more than companies’ tax bills

TWENTY-FIVE of the 100 highest paid US chief executives earned more last year than their companies paid in federal income tax, a pay study has found.

It also found many of the companies spent more on lobbying than they did in taxes.

At a time when lawmakers are facing tough choices in a quest to slash the national debt, the report from the Institute for Policy Studies (IPS), a left-leaning Washington think tank, quickly hit a nerve.