"Major U.S. Companies Pay Executives More Than Federal Taxes: Report"
A new analysis by the Institute for Policy Studies and Americans for Tax Fairness reveals that dozens of major U.S. companies paid their top executives more than they paid in federal taxes between 2018 and 2022. This comes as President Biden has proposed raising the corporate tax rate to 28 percent. The report aims to connect lucrative executive compensation packages to the lower tax rate set under the Trump administration. The analysis found that 64 companies paid their top five executives more than their federal taxes during at least two of those five years, with 35 companies, including Ford and Tesla, paying their top executives more than their taxes over all five years. The issue of how to tax wealthy corporations and individuals is expected to be a central theme in the upcoming presidential election.
