Netflix Made Record Profits in 2020, Paid a Tax Rate of Less Than 1 Percent
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Re: Netflix Made Record Profits in 2020, Paid a Tax Rate of Less Than 1 Percent
#2Unfortunate as it may be, this isn't shocking to me any more. Where are efforts being made to counteract the clustercuss of a situation where the larger you are, the more you can pay your accounting team to diminish your tax burden?
Re: Netflix Made Record Profits in 2020, Paid a Tax Rate of Less Than 1 Percent
#3-> President Biden so far has not proposed to do away with these tax breaks, but he has proposed a second-best solution—requiring corporations to pay a minimum tax equal to 15 percent of profits they report to shareholders and to the public if this is less than what they pay under regular corporate tax rules. This would be a big improvement because it would finally require all corporations to contribute at least something to support the society that makes their profits possible.
Uhh.... Typo?
Re: Netflix Made Record Profits in 2020, Paid a Tax Rate of Less Than 1 Percent
#4[deleted]
Re: Netflix Made Record Profits in 2020, Paid a Tax Rate of Less Than 1 Percent
#5Unfortunate as it may be, this isn't shocking to me any more. Where are efforts being made to counteract the clustercuss of a situation where the larger you are, the more you can pay your accounting team to diminish your tax burden?
Nowhere, when the people in power benefit from it.
Re: Netflix Made Record Profits in 2020, Paid a Tax Rate of Less Than 1 Percent
#6such accounting, such talent, they only hire the be$t
why can't we be 1%'ers like them?
Re: Netflix Made Record Profits in 2020, Paid a Tax Rate of Less Than 1 Percent
#7After a decade or two of these stories it’s clear this won’t change until someone offers a retail solution for everyday small businesses and individuals to enjoy the same level of “tAx PlAnNiNg.”
It’s the only thing that will motivate the rest of the legislature to plug the holes.
Re: Netflix Made Record Profits in 2020, Paid a Tax Rate of Less Than 1 Percent
#8People love to vote for politicians who promise massive, but vague, tax credits for green energy, for worker education programs, for locating in "opportunity zones," for making capital investments, all kinds of stuff ... and then they love to be outraged when companies actually do those things and eliminate the majority of their tax bill.
Re: Netflix Made Record Profits in 2020, Paid a Tax Rate of Less Than 1 Percent
#9Re: Netflix Made Record Profits in 2020, Paid a Tax Rate of Less Than 1 Percent
#10Is that calculation really correct? Does it count tax for all the employees? Does it count all specialized tax for things like gas or VAT, for all the things Netflix buys in their operation? What about all the media that Netflix buys and produces? What about all the taxes levied there on salaries and other activities? The article also talks about "income" and not "revenue"...