A new investigation into the nation’s most egregious corporate “tax evaders” reveals that left-wing streamer Netflix pays its executives more money than it does in federal taxes.
But it’s not just Netflix.
Americans for Tax Fairness and Policy Research Institute found In at least two of the five years studied, from 2018 to 2022, 35 companies paid more in taxes to their top five executives than they paid in U.S. taxes.
The survey was conducted in the midst of tax season, when American households are required to send increasingly larger amounts of their income to Uncle Sam each year.
Netflix paid its top five executives $652 million over a five-year period in which the streamer paid $236 million in federal income taxes, an enviable tax rate of just 1.6 percent.
Report: From 2018 to 2022, 35 of America’s largest companies, including Ford, Netflix and Tesla, paid executives more in compensation than they paid in federal income taxes.
While executive salaries were in the seven and eight figures, many companies had negative tax rates (meaning we gave them refunds).
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— Americans for Tax Fairness (@4TaxFairness) March 13, 2024
“Both types of corporate fraud – underpaying taxes and overpaying executives – ultimately victimize working families through reduced pay and diminished public services.” , David Kass, executive director of the United States for Tax Fairness, said in the study.
Tesla paid founder Elon Musk and four other highest-paid executives $2.5 billion during that period, according to the study. However, despite its $4.4 billion net income, the company paid no cumulative federal income taxes, instead receiving a net $1 million tax refund.
T-Mobile also received $80 million worth of refunds after paying executives $675 million.
Netflix continues to work with former President Barack Obama and former First Lady Michelle Obama through a production deal in which the Obamas produce movies and television series.
Among the former first couple’s recent endeavors is a movie with Julia Roberts leave the world behind and documentary american symphony.
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