Compensation for senior bosses at firms from Tesla to T-Mobile US worth more than those companies’ net tax payments, study finds
Archived version: archive.ph/DYWEI
Analysis by Americans for Tax Fairness (ATF) and the Institute for Policy Studies (IPS) found the collective net federal income tax bill of all 35 companies was negative $1.72bn over the five-year stretch – meaning they collectively received more money back from the government in refunds than they paid.
Yeah
givesomefucks@lemmy.world 8 months ago
Super depressing fact:
CEO wages are tax deductible.
It shouldn’t be, but good luck convincing republicans and neoliberals that.
psvrh@lemmy.ca 8 months ago
I’m fairness, all wages are a business expense, and in theory, personal income taxes should catch this.
The problem is that we don’t tax the rich enough, and as a result our tax code encourages cash hoarding.
BakerBagel@midwest.social 8 months ago
Businesses have to match the taxes that employees pay. If i make $50,000 a year and owe $10,000 in taxes, my employer also owes $10,000 too. So if my company is paying taxes on my wages, why are the CEO’s wages tax deductible?