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Tax Cuts

Corporations That Pay Their Executives More Than Uncle Sam

Corporate tax dodging and CEO pay have both gotten so far out of control that a significant number of major U.S. companies are paying their top executives more than they’re paying Uncle Sam. Tesla is perhaps the most dramatic example. Over the period 2018-2022, the electric car maker raked in $4.4 billion in profits but paid no federal income taxes. Meanwhile, Tesla CEO Elon Musk became one of the world’s richest men. When it comes to fleecing taxpayers while overpaying executives, Tesla is hardly alone. A new report we co-authored for the Institute for Policy Studies and Americans for Tax Fairness analyzes executive pay data for some of the country’s most notorious corporate tax dodgers.

House Republican Rules Package Designed To Enable Skewed Priorities

The House Republican majority recently adopted a rules package to guide that chamber’s legislative action that would put up steep barriers to investments in critical national needs while paving the way for ever more tax cuts, inevitably tilted toward the wealthy and profitable corporations. That isn’t an agenda that will expand opportunity or support broadly shared economic growth. Proponents describe the rules as “restoring fiscal sanity,” but they just reflect an ideology that ignores reams of evidence showing that the tax cuts of recent decades haven’t meaningfully boosted economic growth. The large tax cuts have led to higher deficits and debt and lower investments in areas such as education, research, child care, climate, and transportation that would make our nation as a whole stronger. The new House rules can be waived, but this package offers a window into the House majority’s priorities — favoring new tax cuts while hindering new investments.
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