A latest research discovered that 35 firms paid their prime 5 executives greater than they paid in Federal earnings tax throughout the 5 12 months span from 2018 to 2022. American automaker Tesla was by far the worst offender, because it truly netted $1 million in refunds from the federal government in that interval, whereas doling out amongst the very best govt pay in historical past through a compensation package deal value $2.5 billion. Despite Elon Musk’s huge wealth having largely been constructed on the again of Tesla and its inflated inventory valuation, the research claims Tesla has by no means paid one shiny cent in Federal earnings tax.
The research lists different notable firms alongside Tesla, together with T-Mobile, Ford Motor Company, and Netflix, however Tesla’s govt compensation so vastly outstrips the others on the checklist that it accounts for greater than 1 / 4 of the $9.5 billion in govt pay for the complete checklist of 35 firms.
Ford, the fifth-worst firm on the checklist paid a relatively tiny $355 million to its 5 prime execs, whereas paying $121 million in Federal earnings tax for that very same 5 12 months interval. Now, $121 million is hardly Ford’s justifiable share when in comparison with the $7.8 billion in company revenue it earned inside that interval, however it’s orders of magnitude greater than Tesla.
We, the American individuals, are being fleeced by company and govt greed. Tesla earns tons of of thousands and thousands of {dollars} in authorities contracts, preferential authorities loans, federal and state incentives, and numerous kickbacks, all of the whereas paying nothing again to the nation that each one however assured its present stage of success.
Tesla CEO Elon Musk is at present listed because the second richest human being with a reported web value of $207.9 billion. Tesla bought roughly 2.1 p.c of the automobiles bought globally in 2023.
Source: jalopnik.com