Amazon's Billionaire Boss: How Low-Wage Companies Lobby for Tax Cuts

A new report by the Institute for Policy Studies reveals that Amazon's CEO Jeff Bezos is among the highest-paid executives in the country, while his company's workers are among the lowest paid.

The IPS report found that Bezos took home $1.9 million in compensation last year, but his net worth soared to $254 billion due to his ownership of Amazon stock. This makes him one of the wealthiest individuals in the world.

In contrast, the median wage for an Amazon worker was just $40,206 last year. The report also found that Walmart's CEO Doug McMillon made 958 times more than the company's median pay, at $29.2 million in compensation.

The IPS report criticizes Amazon and other low-wage companies for their lobbying efforts to pass tax cuts that benefit wealthy individuals and corporations, while ignoring the needs of their workers. The report recommends increasing taxes on excessive executive pay and compensation, as well as tying government contracts to the ratio between CEO pay and worker pay.