Portal:Fix the Debt/Fix the Debt CEOs
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.
- General Electric
- Delta Air Lines
- Honeywell, "2011 Annual Report", organizational report.
- Institute for Policy Studies, "A Pension Deficit Disorder: The Massive CEO Retirement Funds and Underfunded Worker Pensions at Firms Pushing Social Security Cuts", organizational report, November 21, 2013.
- Citizens for Tax Justice, data compiled by CTJ, on file with CMD.
- General Electric, "2011 10K Form", organizational document, page 27.
- Verizon, "2011 Annual Report", organizational document, page 25.
- Corning, "2011 Annual Report", organizational report, page 63.
- Merck, "2011 10K", organizational document, page 41.
- Delta Air Lines, "2011 Annual Report", organizational document, page 24.