Granted they were following the rules like every other company, but still 😒 https://itep.org/netflix-posted-biggest-ever-profit-in-2018-and-paid-0-in-income-taxes/
Is the implication here that Netflix has a moral obligation to pay more than what tax code requires of them?
No, I am pretty sure this is not the implication. I think the implication is that the tax code "has a moral obligation" to require them to pay more.
(deleted my previous comment, didn't want to sound sarcastic.) Remember that the laws you write today is going to determine the course of the next recession. You do not want to grab so much that you can't get your hands out of the jar.
But, Netflix employees paid taxes right??
I haven’t read Netflix financial report yet; but I suspect it’s just miss understanding of how to interpret the numbers. Go to their cash flow statement and u should see them indicate the cash they paid for tax. I can see they’re paying zero Federal tax but they gotta paid quite a bit of state income taxes.
Amazon did the same. It is called re-investing profits
Plz. Netflix hired so many people ,and these people pay income tax at around 30 percent …… plus the sales tax that consumes paid , the cash flow that employees spent back into economy. Why is not paying corporate tax a "loss"? It simply means corporates are reinvesting into themselves...
Firms can't pay taxes, only people can. When you impose taxes on a company, really some combination of shareholders (through lower returns), employees (lower wages), and customers (higher prices) bears the burden. Which of these bears the brunt of the tax depends on the specifics of the markers the firm operates in. A cynical view is that corporate taxes allow politicians to silently (doesn't appear on a W-2 or 1040) raise more taxes from the population.
Except that the excesses of revenues goes in large part to shareholders and in small part to employees
If corporations not paying tax is as good as it can be, as commenters here strongly believe, why even have corporate taxes?
A: It's a silent way (doesn't appear on a W-2 or 1040) for politicians to raise taxes from the population.
Most people aren’t saying that there shouldn’t be corporate taxes, just that they aren’t upset that a successful company that is still growing and reinvesting doesn’t have to pay any directly
I would be OK if there wasn’t any corporate tax, but I would zero any kind of subsidy and put a cap on dividends and payback. Revenues must fuel reinvestment in the business, not enrich Wall Street parasites
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Someone should do the math on how much tax revenue the govt would lose if these companies didn’t exist
Also do the analysis on what else these companies can do, if govt forces them to pay the taxes
VAT tax them. #AndrewYang style.