Tag

Tax Fairness

All articles tagged with #tax fairness

"Report Reveals US Companies Pay Executives More Than Federal Taxes"

Originally Published 1 year ago — by The Guardian

A report by Americans for Tax Fairness and the Institute for Policy Studies reveals that senior executives at 35 major US companies received more in compensation than their companies paid in federal taxes between 2018 and 2022, with a collective net federal income tax bill of negative $1.72bn. Advocacy groups are calling for an increase in the corporate tax rate, citing the need for big businesses to pay their fair share. President Joe Biden has also emphasized the importance of ending tax breaks for big corporations and executives, while the report highlights how aggressive tax avoidance and excessive executive pay negatively impact working families and small businesses.

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"Report: Top Executives Paid More Than Federal Taxes by Dozens of Big U.S. Companies"

Originally Published 1 year ago — by CBS News

A new analysis by the Institute for Policy Studies and Americans for Tax Fairness reveals that top executives at dozens of major U.S. companies received more in compensation from 2018 to 2022 than the companies paid in federal taxes. This report comes as President Biden proposes to increase the corporate tax rate to 28%. The study highlights the growing income and wealth inequality, with CEOs earning about 344 times more than the typical worker in 2022. The report also points out that many corporations pay effective tax rates lower than the statutory 21% federal rate due to loopholes and breaks, exacerbating the nation's debt and income inequality.

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