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Netflix Posted Biggest-Ever Profit in 2018 and Paid $0 in Income Taxes

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Re: Netflix Posted Biggest-Ever Profit in 2018 and Paid $0 in Income Taxes

#91

Post by theevilsharpie »

otachack wrote: post #46
driverdan wrote: post #34

Rather than being outraged at the headline, what are the actual details? Why were they able to pay no taxes? Was it due to carried losses or something like that? Anyone mad at a company for not pay taxes is misdirecting their anger. Companies follow the law. If you don't like the law elect different politicians. Don't get mad at companies that follow the law.

It's not that simple. Companies lobby to keep, even coerce, laws that benefit them and allow these sorts of things to happen. What is the common person, or collection of persons, supposed to do when they are against that kind of force? I believe one way is to actually be involved in politics and get into the seats that govern and make the laws. But it's easier said than done.

> What is the common person, or collection of persons, supposed to do when they are against that kind of force?

Vote.

All sorts of interests lobby, all the time. These include consumer-focused interest groups, as well as corporations. But, at the end of the day, politicians gain (and keep) office based on the votes of their constituents. These politicians are (generally) not going to vote on bills that they think might get them kicked out of office.

Re: Netflix Posted Biggest-Ever Profit in 2018 and Paid $0 in Income Taxes

#92

Post by kaolti »

vkou wrote: post #74
clarkmoody wrote: post #55

Populist clickbait headline is clickbait. I'm sure Netflix paid tons in employer contributions to employee income taxes, social security taxes, etc. They probably paid a bunch in sales taxes where they made purchases. Property taxes for data centers, office buildings, etc. So there are many more taxes that everyone pays beyond the income tax. As others have pointed out, the tax code is immensely complex, but you prob…

> I'm sure Netflix paid tons in employer contributions to employee income taxes, social security taxes, etc. I pay sales taxes, and my landlord pays property taxes, and I gave $500 to charity last year. Does that excuse me from paying any income taxes on $300,000 of salary, or do I need to structure that compensation through a double Irish sandwitch, first? Alternatively, if a shoplifter steals $500 of goods, but pay…

That's a separate discussion.

Individuals have all their obligations deducted and we can spend the rest.

Companies spend first and pay obligations on the remaining.

Re: Netflix Posted Biggest-Ever Profit in 2018 and Paid $0 in Income Taxes

#93

Post by macintux »

chanandler_bong wrote: post #79
otachack wrote: post #46

Earlier quoted context omitted.

It's not that simple. Companies lobby to keep, even coerce, laws that benefit them and allow these sorts of things to happen. What is the common person, or collection of persons, supposed to do when they are against that kind of force? I believe one way is to actually be involved in politics and get into the seats that govern and make the laws. But it's easier said than done.

The answer is to outlaw lobbyists, it would fix a lot of problems. That, and enact term limits for Congress. That will fix even more.

The world is a crazy complex place. Like them or not, lobbyists are useful for helping lawmakers understand the implications of laws, and eliminating lobbyists (setting aside the impracticality of such a task) and imposing term limits (thus reducing the level of institutional knowledge in Congress) would mean that lawmakers would often be flying completely blind.

Re: Netflix Posted Biggest-Ever Profit in 2018 and Paid $0 in Income Taxes

#94

Post by briandear »

onion2k wrote: post #48
driverdan wrote: post #34

Rather than being outraged at the headline, what are the actual details? Why were they able to pay no taxes? Was it due to carried losses or something like that? Anyone mad at a company for not pay taxes is misdirecting their anger. Companies follow the law. If you don't like the law elect different politicians. Don't get mad at companies that follow the law.

If I spend a few million to get some lawyers to work out a legal loophole that means I can murder someone and get away with it that wouldn't make it OK to actually do it. The same applies to tax avoidance. It might be legal but it's still wrong .

https://www.adamsmith.org/blog/the-morality-of-tax-avoidance

Let me ask you a question; have you ever deducted anything from your taxes? If so, you are “guilty” of tax avoidance. Every person claiming the Earned Income Tax Credit is engaged in tax avoidance. Anyone that ever deducted anything is a tax avoider.

Re: Netflix Posted Biggest-Ever Profit in 2018 and Paid $0 in Income Taxes

#95

Post by smt88 »

chanandler_bong wrote: post #79
otachack wrote: post #46

Earlier quoted context omitted.

It's not that simple. Companies lobby to keep, even coerce, laws that benefit them and allow these sorts of things to happen. What is the common person, or collection of persons, supposed to do when they are against that kind of force? I believe one way is to actually be involved in politics and get into the seats that govern and make the laws. But it's easier said than done.

The answer is to outlaw lobbyists, it would fix a lot of problems. That, and enact term limits for Congress. That will fix even more.

I'd love it if we outlawed lobbyists, but that'll never happen. It's a clear-cut 1st Amendment issue.

Imagine, for example, that all the fast-food workers unionized and wanted to get the minimum wage raised.

How would they do that when most live outside DC and have to work 1-2 shifts per day to keep their jobs?

They hire professionals -- lobbyists.

Unfortunately any unregulated system benefits the powerful, and we have the heavily abused lobbying system of today.

Re: Netflix Posted Biggest-Ever Profit in 2018 and Paid $0 in Income Taxes

#96

Post by citilife »

chanandler_bong wrote: post #79
otachack wrote: post #46

Earlier quoted context omitted.

It's not that simple. Companies lobby to keep, even coerce, laws that benefit them and allow these sorts of things to happen. What is the common person, or collection of persons, supposed to do when they are against that kind of force? I believe one way is to actually be involved in politics and get into the seats that govern and make the laws. But it's easier said than done.

The answer is to outlaw lobbyists, it would fix a lot of problems. That, and enact term limits for Congress. That will fix even more.

Not siding one way or the other, that will definitely limit the amount of expertise that comes with a Congressman/Congresswoman.

Think about it, it takes at least six months for us to learn our jobs, they have to learn about hundreds of things ongoing in the government before they can make informed decisions. You then even rely more on lobbyists (or "experts") who at least generally know what they are talking about.

Point being, I think this issue is a hell of a lot more complex than it seems.

Re: Netflix Posted Biggest-Ever Profit in 2018 and Paid $0 in Income Taxes

#97

Post by throw_away2 »

macintux wrote: post #93
chanandler_bong wrote: post #79

Earlier quoted context omitted.

The answer is to outlaw lobbyists, it would fix a lot of problems. That, and enact term limits for Congress. That will fix even more.

The world is a crazy complex place. Like them or not, lobbyists are useful for helping lawmakers understand the implications of laws, and eliminating lobbyists (setting aside the impracticality of such a task) and imposing term limits (thus reducing the level of institutional knowledge in Congress) would mean that lawmakers would often be flying completely blind.

So let them get bought off instead? I refuse to believe that the only two options are widespread graft or poor ignorant lawmakers who have no other way of obtaining information.

Re: Netflix Posted Biggest-Ever Profit in 2018 and Paid $0 in Income Taxes

#98

Post by smt88 »

rayiner wrote: post #83
elcomet wrote: post #72

Earlier quoted context omitted.

Big companies lobby every law for their benefits. They hire full time lobyists. Big companies can pay million $ a year for lobbying. Then the question is, does it really influence laws? Well I think if it didn't, they wouldn't spend so much money.

I think your last point is precisely backwards. Total annual lobbying spending is just $3.7 billion a year, in a $19 trillion economy. It's a tiny amount of money compared to the stakes. If lobbying was so effective companies would spend way more money on it. It's also notable that you couldn't point to a specific tax law, like OP asked for. Lower taxes in general--nobody needs to lobby for that, there is a large con…

We don't know how much companies spend in secret through dark money, individual contributions, holding companies, bribes, etc., so that $3.7B is likely very low.

Re: Netflix Posted Biggest-Ever Profit in 2018 and Paid $0 in Income Taxes

#99

Post by theevilsharpie »

chanandler_bong wrote: post #79
otachack wrote: post #46

Earlier quoted context omitted.

It's not that simple. Companies lobby to keep, even coerce, laws that benefit them and allow these sorts of things to happen. What is the common person, or collection of persons, supposed to do when they are against that kind of force? I believe one way is to actually be involved in politics and get into the seats that govern and make the laws. But it's easier said than done.

The answer is to outlaw lobbyists, it would fix a lot of problems. That, and enact term limits for Congress. That will fix even more.

> That, and enact term limits for Congress. That will fix even more.

Do you have a citation for this? Because term limits would mean that elected officials need to plan for what to do after they hit their limit. That could make them even more beholden to corporate lobbyists, who have the resources to offer termed-out lawmakers jobs or other benefits after they leave office.

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