38 Fix the Debt leaders are tied to companies with defense contracts totaling $43.4 billion in 2012

[midnight]

"Fix the Debt CEOs say they are worried about the debt and deficits, yet many Fix the Debt firms pay a negative tax rate or a tax rate well below the standard 35 percent -- adding greatly to our nation’s deficit. Fix the Debt CEOs say that what is needed to balance the books is cuts to earned benefit programs like Social Security (which is a separate federal program not counted in the federal budget at all). At the same time, many of these same CEOs under-fund their employee pension plans, making it likely that their workers will be even more dependent on Social Security. This hypocrisy has led to a campaign called "Flip the Debt," which calls upon major corporations to pay their fair share of taxes."



Honeywell
CEO David Cote, compensation: $37,842,723[50]
David Cote’s retirement assets: $78,084,717[51]
Honeywell's average effective tax rate (2008-2010): -0.7%[14]
Underfunded employee pension: -$2,764,000,000[51]


General Electric
CEO Jeffrey Immelt, compensation: $21,581,228[52]



Corning
CEO Wendell Weeks, compensation: $10,333,531[55]
Wendell Weeks' retirement assets: $21,229,195[51]
Corning's average effective tax rate (2008-2010): -0.2%[14]
Underfunded employee pension: -$454,000,000[51]


Merck
CEO Kenneth Frazier, compensation: $13,347,652[56]
Kenneth Frazier's retirement assets: $14,428,904[51]
Merck's average effective tax rate (2008-2010): 11.5%[14]
Underfunded employee pension: -$1,935,000,000[51]



Delta Air Lines
CEO Richard Anderson, compensation: $8,854,554[57]
Underfunded employee pension: -$11,504,000,000[51]





Aetna
CEO Mark Bertolini, compensation: $10,556,335[58]
Mark Bertolini's retirement assets: $1,499,282[51]
Underfunded employee pension: -$833,500,000[51]

Jeffrey Immelt's retirement assets: $53,301,387[51]
GE's average effective tax rate (2008-2010): -45.3%[14]
Underfunded employee pension: -$21,756,000,000[51]


Verizon
CEO Lowell McAdam, compensation: $23,120,499[53]
Lowell McAdam's retirement assets: $8,725,445[51]
Verizon's average effective tax rate (2008-2010): -2.9%[14]
Underfunded employee pension: -$6,472,000,000[51]



Boeing -- Boeing Has Reportedly Dropped Out of Fix the Debt and Has Joined Other Anti-Tax Coalitions
CEO W. James McNerney, Jr., compensation: $22,958,313[54]
W. James McNerney, Jr.'s retirement assets: $39,089,893[51]
Boeing's average effective tax rate (2008-2010): -1.8%[14]
Underfunded employee pension: -$16,598,000,0

http://www.sourcewatch.org/index.php?title=Portal:Fix_the_Debt

[Scuba]

1. Well there ya go. Just don't pay them.

[midnight]

10. They sure are acting like that is an option.... But yet the unemployed have to pay.....

[dixiegrrrrl]

2. Thanks for finding this info.

[AndyA]

3. Hypocrites!

If we had real journalists in this country, not one of these men would be able to make any public statements or appearances without being asked about this.

[Octafish]

4. What a coincidence!

It just so happens that if We the People's representatives elect to finance their war, they'll make even more money and take up an ever-larger portion of federal pie. Nice.

Thank you for the heads-up, midnight. Outstanding thing to know in a small world.

[marmar]

5. They need to change the name of the group to "The Fix is In"

nt

[WillyT]

6. HUGE K & R !!!

[HughBeaumont]

7. The Larceny Barons.

"Waste, idleness and rising wages are all interrelated to one another, now as cause and now as effect . . . the modern theory that you can safely tax the wealthy is just as obnoxious as the medieval theory that you can safely oppress or kill the poor." - James J Hill, railroad larcenist, empire builder and austerity champion. He contended that America's workers, who earned less than $10,000 a year (in 2013 dollars) at the turn of the century, should practice "thrift and economy". Worth $2 billion (in 2013 dollars), he lived in a five floor Minnesota mansion that featured thirteen bathrooms, 22 fireplaces, 16 crystal chandeliers and a hundred-foot long reception hall.

The vast majority of America's most privileged, then as in now, believe as James J Hill did.

The less things change . . .

[midnight]

9. Grover Norquist, "We're going to crush labor as a political entity"-2011

thanks for the link....

[Overseas]

8. Sad K&R.