A new study shows that the top five executives of major corporations pocketed 15 to 19 cents of every dollar their companies gained from two recent tax cuts. The paper, by Eric Ohrn at Grinnell College, should be a really big deal.
The basic point is CEOs and other top executives rip off their companies. The officers are not worth the $20 million or more that many of them pocket each year.
This is not a moral judgment about their value to society. It is a simple dollars-and-cents calculation about how much money they produce for shareholders. The piece suggests that it is nothing close to what they pocket. Continue reading.