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

  • psvrh@lemmy.ca
    34·
    8 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·
      8 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·
        8 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.