| deskpro2k3 said: That's right folks, don't feel bad, share your Netflix account with your entire neighborhood because according to ITEP, Labor 411, and Snopes, Netflix made $845 million in profits and paid $0 In taxes. Now this isn't something new, corporations like General Electric paid $0 in taxes under the Obama era. Now conservatives fixed it for the corporations even more. The latest tax cut from 35% to 21% made it a heck of a lot easier for major corporations to end up paying no taxes because their loopholes weren't removed or cut. They had to shelter much less money than before. It makes perfect sense that the new tax laws made it easy for this to happen. So go ahead, share your Netflix, dim the lights, put on some musk, light a candle.. let'em watch! |
Don't worry, their 5,500+ employees all paid income tax, social security, and medicare. Of course, Netflix paid nothing in income tax, which means that the tax that would have been paid was deducted on other expenses like previous debts, interest on debts, and non-income taxes (property tax, etc).
I don't really understand the point of the post, because anyone with a brain (person or corporation) is hopefully taking advantage of all tax deductions in the system. I do and they'd be stupid not to. Changing tax code and what exemptions can be taken would require economists and CPAs in Congress though, and that's not going to happen.
