Tell Congress: End rampant corporate tax dodging; rein in excessive executive pay

When Donald Trump and congressional Republicans passed a tax scam that handed trillions of dollars in tax breaks to the rich and corporations, they further rigged a tax code that allows major profitable corporations to pay their CEOs more than they pay in taxes.

Now, a new report titled “More for Them, Less for Us”, from Americans for Tax Fairness and the Institute for Policy Studies, utilizing data from ITEP, shines a spotlight on 35 large profitable corporations that paid their 5 top executives more in executive compensation than they paid in federal income taxes over a recent 5 year period.

Corporations including Tesla, T-Mobile, Netflix, MetLife and Duke Energy received a combined $2 billion in tax refunds while paying outrageously large salaries to executives instead of passing profits and tax savings along to workers.

Thankfully, there are solutions that can fix our broken tax code and start making big corporations pay a bigger share of their profits in taxes than in excessive salaries for their top brass:

  • By raising the corporate tax rate from 21% to 28%, we would generate $1.3 trillion in new revenue over the next decade that could be used to lower costs for working people on everything from healthcare to housing to food.

  • By raising the stock buyback tax from 1% to 4%, we’d not only discourage corporations from manipulating stock prices to further enrich shareholders and CEOs instead of investing those profits back into worker pay, we’d generate $20 billion in tax revenue this year alone.

  • By passing the No Tax Breaks for Outsourcing Act, we could end tax breaks that encourage corporations to shift jobs and profits offshore, ensure corporations pay the same tax rate on their foreign profits as they pay on their domestic earnings, and stop U.S. corporations from merging with smaller, foreign corporations to dodge taxes.

Add your name and tell Congress to pass critical policy solutions that end rampant corporate tax dodging and that rein in excessive executive pay.