Monday, November 26, 2012

Citizen Peter to Pay CEO Paul: How some CEOs are trying to make a killing off the fiscal cliff




From Fortune: A new study shows that CEOs will reap huge financial benefits if a fiscal cliff campaign some of them are undertaking is successful. This is yet another reason it's time to raise the flag on CEO pay.

What should boards pay CEOs for anyway? A new study raises questions about the structure and size of CEO pay that deserve answers -- and fast.  An analysis from the Institute for Policy Studies' (IPS) released earlier this month shows that CEOs will reap huge personal moolah if a fiscal cliff campaign some of them are undertaking is successful. According to the report, the Fix the Debt campaign "has raised $60 million and recruited more than 80 CEOs."

The paper highlights three elements of the campaign's agenda:  repatriation of foreign profits tax free, maintenance of the Bush tax cuts, and offsets through reductions to Social Security, Medicare, and Medicaid benefits….

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