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Dozens of major U.S. companies shelled out more money to top executives than they paid in federal taxes: Report

  • FirstEnergy spokesperson confirms compliance with tax laws, paying hundreds of millions in state, local, and payroll taxes annually.
  • Analysis by Institute for Policy Studies and Americans for Tax Fairness reveals 64 U.S. companies paid more to top executives than in U.S. taxes, with firms averaging a 2.8% federal tax rate.
  • Study advocates for Congress to increase corporate tax rate to 28%, generating $1.3 trillion in new revenue in the next decade.
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Bias Distribution

  • 66% of the sources lean Left
66% Left

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CBS News broke the news in United States on Wednesday, March 13, 2024.
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