Tag Archives: Americans for Tax Fairness (ATF)

Report Exposes US Corporations That Pay Their Execs More Than They Pay in Taxes

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“Both kinds of corporate misbehavior—underpaying taxes and overpaying executives—ultimately make working families the victim through smaller paychecks and diminished public services.”

By Jake Johnson. Published 3-13-2024 by Common Dreams

Elon Musk at TED2013: The Young, The Wise, The Undiscovered. Wednesday, February 27, 2013, Long Beach, CA. Photo: James Duncan Davidson

Top executives at dozens of major, profitable U.S. businesses received more in total compensation in recent years than their companies paid in federal taxes, underscoring the twin outrages of skyrocketing CEO pay and rampant corporate tax dodging.

A report published Wednesday by Americans for Tax Fairness (ATF) and the Institute for Policy Studies (IPS) identifies 35 profitable U.S. corporations that paid their top executives more than they paid the federal government in taxes between 2018 and 2022. The list of companies includes Ford, Netflix, NextEra Energy, and Tesla—whose CEO, Elon Musk, is the richest man in the world.

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Childcare Crisis Grips US as IRS Chief Says Wealthy Tax Dodgers Cost $150 Billion a Year

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“If we can afford to spend over $1 trillion on tax breaks for the top 1% and large corporations making record-breaking profits, we can afford to provide working class families with the childcare they desperately need.”

By Jon Queally. Published 2-25-2024 by Common Dreams

Photo: Learning Policy Institute: Laura E. Hernández/CC BY-NC 4.0

A survey of early childhood educators and caregivers released Sunday shows the post-pandemic collapse of federal funding is fueling a national crisis for young children and their families as centers suffer and out-of-pocket costs soar.

The findings of the survey—titled “We Are NOT OK” and put out by the National Association for the Education of Young Children (NAEYC)—resulted from questions posed to over 10,000 professionals in the early childhood education sector.

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$8.5 Trillion in Untaxed Assets: Data Shows Why ‘We Need a Billionaire Income Tax’

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“While most Americans predominantly live off the income they earn from a job—income that is taxed all year, every year—the very richest households live lavishly off capital gains that may never be taxed.”

By Jake Johnson. Published 1-4-2024 by Common Dreams

Elon Musk, CEO of SpaceX and Tesla. Photo: Daniel Oberhaus/flickr//CC

An analysis released Wednesday shows that in 2022, the wealthiest people in the United States collectively held a “staggering” $8.5 trillion in wealth that is not—and might never be—subject to taxation.

Examining recently released data Federal Reserve data for 2022, Americans for Tax Fairness (ATF) found that the roughly 64,000 U.S. households with at least $100 million in wealth—less than 0.05% of the population—controlled more than one in every six dollars of the country’s “unrealized gains,” profits that aren’t taxable until the underlying asset, such as a stock position, is sold.

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Just 27 Billionaires Have Spent $90 Million to Buy GOP Congress: Report

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“They’re counting on that ‘small’ investment in anti-tax Republicans to save them billions in taxes,” said Americans for Tax Fairness, which conducted the analysis.

By Kenny Stancil  Published 7-18-2022 by Common Dreams

Stephen Schwarzman, co-founder and CEO of Blackstone, speaking at the World Economic Forum in Davos, January 23, 2018. Photo: World Economic Forum/flickr/CC

A few dozen billionaires are spending tens of millions of dollars on the 2022 midterm elections—mostly to support Republican candidates, including many who have parroted the dangerous lie that the 2020 presidential election was stolen—in a bid to ensure that Congress is full of lawmakers willing “to make their wealthy benefactors even richer,” according to a fresh analysis.

Titled Billionaires Buying Elections, the report from Americans for Tax Fairness (ATF) details how “billionaires are increasingly using their personal fortunes and the profits of connected corporations to drown out regular voters’ voices and elect hand-picked candidates who further rig the nation’s economy—especially the tax system.” Continue reading →

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