Institute for Policy Studies (IPS)

“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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“There is no justification to throw… $858 billion at the Pentagon when we’re told we can’t afford child tax credit expansion, universal paid leave, or other basic human necessities,” said the consumer advocacy group Public Citizen. “End of story.”

By Brett Wilkins. Published 12-8-2022 by Common Dreams

Class of 2022 cadets participate in a live-fire exercise as part of their Cadet Field Training. Photo: Matthew Moeller (US Army)/flickr/CC

Peace advocates on Thursday slammed the House of Representatives’ passage of a mammoth $858 billion military spending bill as an early holiday gift for the Pentagon and the weapons corporations who benefit from the United States’ ongoing—but largely forgotten—War on Terror.

House lawmakers voted 350-80 in favor of the 2023 National Defense Authorization Act (NDAA), with 45 Democrats and 35 Republicans voting “no.”

The new NDAA authorizes an $80 billion military spending increase over the 2022 bill, and $118 billion more than when President Joe Biden took office in 2021. The 2023 allocation is more than the combined military budgets of China, India, the United Kingdom, Russia, France, Germany, Saudi Arabia, Japan, and South Korea, according to the National Priorities Project at the Institute for Policy Studies (IPS). It’s also more than the annual gross domestic product of countries including Saudi Arabia, Sweden, Switzerland, and Turkey, based on United Nations figures. Continue reading →

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War Industry ‘Celebrating Christmas Early’ as House Passes $858 Billion NDAA

“There is no justification to throw… $858 billion at the Pentagon when we’re told we can’t afford child tax credit expansion, universal paid leave, or other basic human necessities,” said the consumer advocacy group Public Citizen. “End of story.”