Study: Ameriprise paid more to CEO than taxes last year
Thursday, September 01, 2011 at 4:09 pm
- 2 Comments
Minneapolis-based Ameriprise Financial was included in a list — compiled by the Institute for Policy Studies (IPS) — of the top 25 American corporations that last year paid more to their CEO than they did in federal taxes.
Ameriprise CEO James Cracchiolo received $16,252,851 in 2010, slightly less than he made the year before, according to IPS, a progressive think-tank.
Ameriprise earned slightly less than $1.1 billion in profits in 2010, and the federal government paid out a $224 million tax refund to the company.
The 25 companies profiled in the IPS report avoided tax liabilities by utilizing tax incentives or putting their money into tax havens, according to IPS.
The company also spent millions hiring lobbyists and donating to political campaigns in the last election cycle, according to data from the Center for Responsive Politics.
Honeywell, which was headquartered in Minneapolis until relocating to Morristown, N.J., after a 1999 merger, also made the list (see below).
Source: Institute for Policy Studies
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Comment posted September 2, 2011 @ 10:11 am
My response to the headline: I would damned well hope so! Lest we get all flustered about how much Ameriprise paid in taxes last year, we should remind ourselves how much Obama’s pet, GE, paid in taxes last year…
Comment posted September 4, 2011 @ 12:30 pm
This is what happens when people vote for repuglicans and allow them to grab power: they do everything they can to clear the way for corporations to thumb their noses at the U.S. while dodging taxes and outsourcing American jobs overseas. “Job creators,” my foot: the only jobs repuglicans are creating are in China and India. If you like seeing CEO’s make millions while their companies pay no taxes and the economy goes down the drain, just keep on voting repuglican. God help us.
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