Compensation for senior bosses at firms from Tesla to T-Mobile US worth more than those companies’ net tax payments, study finds

Compensation for senior bosses at firms from Tesla to T-Mobile US worth more than those companies’ net tax payments, study finds

Archived version: https://archive.ph/DYWEI

  • givesomefucks@lemmy.worldEnglish
    682·
    4 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
      34·
      4 months ago

      In 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
        92·
        4 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?

        • SugarSnack@lemm.ee
          5·
          4 months ago

          All wages (whether you’re the janitor or CEO) reduce a company’s profits, which means lower corporation tax. You are talking about payroll taxes, which are a different thing.