I always view these as apple and oranges comparisons. A corporation’s tax rate should be compared to the tax rate of a small business not to the rates paid by individuals. The tax reforms called for by Sanders, Warren and AOC are aimed towards the riches made by individuals and their brood not companies (and all three plans should be enacted together). The problem is not the corporate tax rate but all the shelters, deductions and tax-payer funded subsidies. There is an argument to be made for low corporate taxes spurring growth IF the money saved would be used towards expansion, worker benefits, or R&D and not dividends for the CEOs and share holders.
Whatever You Paid to Watch Netflix Last Month Was More Than It Paid in Income Taxes All Last Year: $0
And the Repubs/Fox News ask, how are you going to pay for all these new programs because we are not asking these super rich guys to pay anything toward our social goals?
It’s not just roads, and bridges, boys and girls. It’s language, culture, internet, phone, electricity, money, contracts, regulations, etc. There is no self made man! We cannot let these stories about paying nothing go without notice! They have been under paying their taxes for 40 years so now the bill has come due! Confiscate all wealth over some level like $50 million. We are going to need all of it to fix our poor ailing planet!
And the first step is getting ALL MONEY out of Elections, nothing will change until that happens, Buying politicians must be made a crime.
Well that about figures. Studying with my grandson for his Grade 11 social studies exam, I got to review the French Revolution…and it’s pre-revolution days we’re racing back to. The French had a parliament with 3 estates…the nobles, the clergy and the people. Only the third estate, that of the people, paid taxes…the nobles waged imperialistic wars, and I guess the clergy blessed those massacres…prior to the storming of the Bastille…where the mothers of Paris were in the front lines, France was heavily in debt and the parasites at the top were preparing to levy more taxes…not on themselves of course, but on their starving population.
Off with their Heads sounds pretty violent, once we forget what led up to it. We boycott Netflix…and speak out against American led wars of aggression. On a cultural note, Netflix also erases the kind of wonderful international movie I was lucky enough to watch when my kids were small…now everyone gets to ingest the crap of the H. Weinstein wonderkins.
Netflix is cheap violent schlock for the most part, preparing the plebians to enlist in the gestapo the 1% need to keep doing what they’re doing
They not only get to control the entertainment mediums for free, they get to make the kind of shit that keeps the average American believing in social darwinian, eat or be eaten bullshit. Like the crap your country is peddling now about Venezuela…forgetting to mention the sanctions even Obama was willing to put on them, forgetting the freeze you’ve put on their gas stations in your country, forgetting the good deeds they did when Haiti was hit by that hurricane…most Americans know beans about their own governments, but they’re always ready and willing to interfere in other people’s elections…you think that 90 % of the garbage on netflixs isn’t implicated in that dumbed down sense of entitlement and love of violent meddling??
If money is paid towards expansion or worker benefits or even CEO salary, then my understanding is this is not profit, but business expenses. Dividends are only from profit and thus money is taxed twice (when there are no loopholes), once at the corporate profit side and once as stock income (I don’t think dividend income is taxed like capital gains, but I could be wrong). I haven’t been able to figure out how Netflix declared actual profit but paid no taxes (this article doesn’t explain it nor have a found another one yet). I’m ok using simple and fair tax law on both income and corporate sides to improve something we want to improve - e.g. energy savings improvement for houses on the personal side, and perhaps stimulating certain markets that need to pushed forward faster than others on the corporate side (like renewable energy). But this Netflix loophole sounds like utter bullshit and of course I can’t expect Netflix to take a principled stance - I have to rely on the government to clean up their tax mess.
Note: I am a Netflix subscriber - I think there are quite a few good shows - really enjoyed Bodyguard recently and Grace and Frankie is one of the best comedies I’ve ever seen.
another billionaire for my „tracker" the robots ‘d need to watch for… i‘ve just read Reed Hastings is a Charter school advocate, he’d better not boast about that… I guess the killerobots (aka AI based robots of the future) will „like" Charter schools AND its advocates in the same way I „like" the Koch bros haha the billionaire are so screwed… in the future AI will empower everybody to fight her/his cause regardless what the billionaire want… It seems the billionaire are so overpowered at the moment (and heigh on their money) that they can’t see the hehe coming robot revolution but to them it will be more like an apocalypse, ahhh I love AI and killerobots.
I’m actually okay with something being taxed twice, three times, or more. Stick your money in the bank and the bank gets taxed on profits and you on interest payment. Paying a toll on highway is double taxation. Buy an imported item and the sales tax is also on the import duties. Capital gains tax exemption should be eliminated altogether.
Sorry I didn’t mean to imply I was against it, I’m also fine with typical European levels of tax on profit (which are a bit lower than ours used to be but with fewer loopholes) as well as tax on capital gains or dividends at the full income tax level and never at a reduced level. I’m ok paying taxes on after tax income of course (sales tax, I’d want a carbon tax too). On paying tolls - I hate that, this is often not a tax but a fee to a private group the government sold the rights too. I’m fine with a higher gas tax and even (as I’m sure will be needed) a GPS monitored use tax for cars as more and more cars won’t pay the gas tax), but I’m absolutely opposed to these stupid toll roads. I am also unhappy about losing one protection from double taxes - the long time practice of being able to fully deduct property tax (which in CA is quite high unless you got your house ages ago which I didn’t) and state income tax (also pretty high here) from your income when being taxed by the Federal govt. Trump of course doesn’t care about getting votes from CA or NY which are most affected by that change. Theory has it that Orange County CA flipped their house seats to D partially because of this tax change from the Rs.
Netflix is getting richer
Does this not fall under Foreign Tax Cuts?
That’s how they offset their us Tax Bill. So, by default they didn’t pay any US tax rate because they received tax incentives from taxes paid overseas.