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
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
Super depressing fact:
CEO wages are tax deductible.
It shouldn’t be, but good luck convincing republicans and neoliberals that.
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.
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?
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.