The vice president is rolling out her first revenue-raising policy proposal as the Democratic presidential nominee and drawing a contrast with GOP opponent Donald Trump.
"The analysis names 35 corporations, including Tesla, Netflix and Ford, that each reportedly spent more on compensation to their five highest-paid executives than they paid in federal income taxes over five years.
Collectively, the 35 corporations spent $9.5 billion on their top executives over that span, the report said, while their combined federal tax bill came to -$1.8 billion: a collective refund."
Imagine if the law was no more can be spent in corporate executive compensation than the company pays in taxes. Idk if that’s a good idea for small corporations, but it’s a jumping off point.
As much as I like the idea it aint exactly a clean cut rule, a lot of companies operate on slim marjins due to loans or just that being how it is so taxing income could fuck over way more than just the greedy assholes. I do think taxing based off of stock prices should be a thing, the stocks reflect the physical value right? That means they should be able to pay the taxes.
For someone who clearly knows how fucked the issue is that wording seems almost distracting from the road that will get us to a solution. It’s a good thing, let it happen.
Does it really matter what the rate is when they don’t pay it anyway?
https://www.usatoday.com/story/money/2024/03/13/companies-spend-more-executive-salaries-than-taxes/72941207007/
"The analysis names 35 corporations, including Tesla, Netflix and Ford, that each reportedly spent more on compensation to their five highest-paid executives than they paid in federal income taxes over five years.
Collectively, the 35 corporations spent $9.5 billion on their top executives over that span, the report said, while their combined federal tax bill came to -$1.8 billion: a collective refund."
Imagine if the law was no more can be spent in corporate executive compensation than the company pays in taxes. Idk if that’s a good idea for small corporations, but it’s a jumping off point.
We could set it so that companies whose CEO’s net worth is less than a half mil are exempt
Here’s a wild idea… tax corporations based on income, not profit.
As much as I like the idea it aint exactly a clean cut rule, a lot of companies operate on slim marjins due to loans or just that being how it is so taxing income could fuck over way more than just the greedy assholes. I do think taxing based off of stock prices should be a thing, the stocks reflect the physical value right? That means they should be able to pay the taxes.
I mean, when I pay my taxes, it’s based on how much money I earned, not how much money I have left over at the end of the year.
If the argument is “Corporations are people, my friend” they should be paying an income tax, same as anyone else.
Holy shit if a corporation is a person…
…does this mean a person is a corporation?
It makes sense. More income, more bonus. It would also prevent companies from handing out bonuses while operating at a loss.
I gotta tell ya, “is planning on increasing corporate taxes” seems like the right direction to me. So, yes.
Yes, there’s more to be done, obviously.
For someone who clearly knows how fucked the issue is that wording seems almost distracting from the road that will get us to a solution. It’s a good thing, let it happen.
Exactly. If the don’t close the loopholes then this means precisely dick.