Even With Reform, Federal Government Subsidizes Executive Wealth
The next time some silk-suited member of Congress takes to the airwaves to complain about mythical food stamp fraud sapping the federal budget, consider this:
Did you know that federal government tax dollars were being used to reimburse private corporations for the exorbitant pay packages they provided their corporate executives? The above data, provided from White House data, shows the amount that the U.S government would pay executives of corporations with government contracts in order to in turn pay those contractors’ executives. Our tax dollars have been used to prop up executive pay, reward the richest, and exacerbate income inequality in the United States.
At the end of 2013, a modicum of reform was passed into law that reduces the U.S. government subsidy for corporate executive salaries down to $487,000 per executive per year from $952,308 per executive per year. To make up the difference, a corporation will now have to chip in the remainder of their own executive’s salary…
… but the U.S. government is still paying corporations to pay their corporate executives nearly half a million dollars a year each.
When did this become a vital national priority?