Netflix Made $845 Million In Profits And Paid $0 In Taxes Under New GOP Tax Law

[Wild self]

Look at their financials... they have a lot of debt and are burning through cash.


Whose throats are they cutting ? except some hollywood studios and cable companies ?

Hollywood couldnt be more happier with this news.

 

[Cynic]

Hollywood couldnt be more happier with this news.

According to you spending 13 billion to make less than 900 million is the epitome of greed


N!ggas really acting like this is Mallinckrodt and Willis Towers Watson level finessing

Make 25k on your income while defending wealthy people brehs

" But...but... What about the job creators"

I have no income this fiscal quarter and Netflix isn't wealthy

 

[Dr. Acula]

You absolutely can, it's just that unless you're a millionaire the amount of money you would spend on good accountants and tax attorneys would wipe out any savings you might get.

The tax code is simply too large, complex, and burdensome. Its designed to include loopholes for the largest donors.

I understand the intentions of a progressive tax, but the reality is much different. As the old saying goes, "the road to hell is paved with good intentions".

You can institute a flat tax and get some revenue or play wack a mole trying to close loopholes and get no money.

The only way to stop rich people from dodging taxes is a global government and I promise you you don't want that.

But then again, from what I've been reading online people seem primed and ready to give themselves to big brother as long as he promises free stuff.

If a corporation's goal is to ideally pay an effective tax of 0%, why would a flat tax be a way to guarantee more tax than a progressive tax? They don't want to pay any tax. The loopholes are usually implemented by politicians who goal is not to implement politically progressive tax policies and are usually bought to include the loopholes on the behalf of their donors (Democrats and Republicans alike). Why is not fixing the loop holes a more beneficial way to increase tax revenue and also minimize criminal activities? Politicians like Elizabeth Warren and that type of politics are effective in handling this issue. Why not combine that also with more enforcement and teeth in law enforcement to make sure people aren't avoiding taxes and make sure they are actually punished for financial crimes?

There is a progressive tax in Japan with a higher marginal rate than the US and they combined that with laws that many believe are effective to prevent Japanese companies from using tax havens and avoiding taxes.
Japan shows how we could stop corporations from evading taxes by using tax havens | Canadians for Tax Fairness

Japanese citizens get to enjoy a lot of social services that Americans can only dream of.

 

[Jesus H. Christ]

According to you spending 13 billion to make less than 900 million is the epitome of greed


N!ggas really acting like this is Mallinckrodt and Willis Towers Watson level finessing

I have no income this fiscal quarter and Netflix isn't wealthy

Spoken like a true peasant. Sit here and wait for the trickle down crumbs

 

[HellRell804]

If a corporation's goal is to ideally pay an effective tax of 0%, why would a flat tax be a way to guarantee more tax than a progressive tax? They don't want to pay any tax. The loopholes are usually implemented by politicians who goal is not to implement politically progressive tax policies and are usually bought to include the loopholes on the behalf of their donors (Democrats and Republicans alike). Why is not fixing the loop holes a more beneficial way to increase tax revenue and also minimize criminal activities? Politicians like Elizabeth Warren and that type of politics are effective in handling this issue. Why not combine that also with more enforcement and teeth in law enforcement to make sure people aren't avoiding taxes and make sure they are actually punished for financial crimes?

There is a progressive tax in Japan with a higher marginal rate than the US and they combined that with laws that many believe are effective to prevent Japanese companies from using tax havens and avoiding taxes.
Japan shows how we could stop corporations from evading taxes by using tax havens | Canadians for Tax Fairness

Japanese citizens get to enjoy a lot of social services that Americans can only dream of.

I've noticed something maybe you have as well, but when people talk about these countries with these awesome social programs, its always monolithic countries, like 80 to 90 percent 1 race of people.

Maybe, just maybe, it's easier to talk people into these programs because everyone has similar cultures and backgrounds and can easily come to an agreement on how to spend the money vs the mish mash of cultures and ideals that are present in the melting pots of America and western Europe?

 

[Dr. Acula]

I've noticed something maybe you have as well, but when people talk about these countries with these awesome social programs, its always monolithic countries, like 80 to 90 percent 1 race of people.

Maybe, just maybe, it's easier to talk people into these programs because everyone has similar cultures and backgrounds and can easily come to an agreement on how to spend the money vs the mish mash of cultures and ideals that are present in the melting pots of America and western Europe?

I can agree with that and even the most successful socialization program in the United States, The New Deal, explicitly benefited mostly whites and excluded blacks. Unfortunately, we see time and time again that mostly white voters will vote against their very own interest if its at the expense of making sure, usually black people, do not benefit or even hurt by it. This allows a monied elite in order to secure their benefits through the government ensure they maintain their power by exploiting the ignorance and bigotry of voters. Unfortunately, I'm not very optimistic this challenge will be overcome but I still think promoting the ideas are worth it if its packaged correctly. Lyndon Johnson quote gets posted often but it explains the problem.

 

[Cynic]

Spoken like a true peasant. Sit here and wait for the trickle down crumbs

That's nice except I sold my bakeries already and i'm far from a peasant

 

[HellRell804]

I can agree with that and even the most successful socialization program in the United States, The New Deal, explicitly benefited mostly whites and excluded blacks. Unfortunately, we see time and time again that mostly white voters will vote against their very own interest if its at the expense of making sure, usually black people, do not benefit or even hurt by it. This allows a monied elite in order to secure their benefits through the government ensure they maintain their power by exploiting the ignorance and bigotry of voters. Unfortunately, I'm not very optimistic this challenge will be overcome but I still think promoting the ideas are worth it if its packaged correctly. Lyndon Johnson quote gets posted often but it explains the problem.

It's crazy you posted that quote and not the other more famous one.

But what you're saying to me illustrates the need for a smaller government where people can make their own decisions in smaller groups. Not decisions that's going to effect the whole country.

However you feel about a situation, it's kind of arrogant to say people are voting against their own interests when you dont even really know what their interests are unless you're clairvoyant. One man's heaven is another man's hell.

 

[Wild self]

Isnt that the point of being business?
to be successful?

no one likes to pay tax

So they above the law?

 

[chowism]

I can't get mad at Netflix taking advantage of this