"Major US Companies: Executive Pay Exceeds Federal Taxes"
TL;DR
A study found that 35 major US companies, including Tesla, paid their top five executives more than they paid in federal income taxes between 2018 and 2022. Tesla, which earned $4.4 billion and paid its executives $2.5 billion, not only didn't pay any federal taxes but received $1 million in refunds. The study also revealed that 18 of these companies reported net profits over the five years but didn't pay a cent of federal income tax, with some receiving refunds. Notable companies like T-Mobile, Netflix, Ford Motor, and Match Group were also listed in the study, sparking outrage over corporate greed and the need for tax reform.
Topics:businessbusiness-taxation#business-taxation#corporate-greed#executive-compensation#federal-income-tax#taxation#tesla
- Tesla paid no federal income taxes while paying executives $2.5 billion over five years Engadget
- Dozens of major U.S. companies shelled out more money to top executives than they paid in federal taxes: Report The Hill
- Companies paid top executives more than they paid in US taxes – report The Guardian
- No federal income tax? How some big companies got away with paying $0 USA TODAY
- Tesla, Netflix, Ford, and others spend more on executive pay than taxes Quartz
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