Drudge Retort: The Other Side of the News
Friday, February 08, 2019

The popular video streaming service Netflix posted its largest-ever U.S. profit in 2018­­ -- $845 million -- on which it didn't pay a dime in federal or state income taxes. In fact, the company reported a $22 million federal tax rebate.After a year of speculation and spin, the public is getting its first hard look at how corporate tax law changes under the Tax Cuts and Jobs Act affected the tax-paying habits of corporations. The law sharply reduced the federal corporate rate, expanded some tax breaks and curtailed others. The new tax law took effect at the beginning of 2018, which means that companies are just now closing the books on their first full year under the new rules.

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Of course, as soon as a Dem wins the WH Republicans will resume screaming about deficits and debt.

Which they created.

#1 | Posted by AMERICANUNITY at 2019-02-08 06:51 PM | Reply | Newsworthy 5

Your Netflix subscription cost is going up 18%, Netflix pays no taxes.

Your taxes go up.

Suckers

#2 | Posted by truthhurts at 2019-02-08 09:09 PM | Reply | Newsworthy 2

#1 Regan started this ****show. According to him and his fellow thugs, deficits don't matter.

#3 | Posted by bat4255 at 2019-02-08 09:39 PM | Reply

Haven't you heard? Taxes are evil. Therefore people and companies who don't pay them are patriots.

#4 | Posted by SpeakSoftly at 2019-02-08 09:51 PM | Reply

This isn't netflix's fault though. This is the fault of having our elections funded by legalized bribery which results in corporations writing whatever laws they want, and what they want is for you to pay more, while they pay less.

#5 | Posted by SpeakSoftly at 2019-02-08 09:52 PM | Reply

#1 Regan started this ****show. According to him and his fellow thugs, deficits don't matter.

#3 | Posted by bat4255

That's what Dick Cheney said when questioned about soaring deficits created by tax cuts and unfunded wars after inheriting surpluses and a $5T national debt.

Thanks to that devil-may-care attitude about deficits the last time Republicans had unified control of government, they more than doubled the budget and national debt (and left the economy in the toilet).

And now, thanks to last year's tax cuts, we're back to $1T annual deficits after Obama methodically decreased them from the $1.4T a year he inherited down to $500B when he left office.

#6 | Posted by AMERICANUNITY at 2019-02-09 02:24 AM | Reply | Newsworthy 2

This isn't netflix's fault though. This is the fault of having our elections funded by legalized bribery which results in corporations writing whatever laws they want, and what they want is for you to pay more, while they pay less.

#5 | POSTED BY SPEAKSOFTLY

I agree. Netflix should pay as little tax as they legally can, as any taxpayer should. What would be immortal, though, is if Netflix LOBBIED for the same laws that allowed them to pay so little tax.

An example is when Mitt Romney was shown to pay very little tax due to the carried interest loophole. That is fine.

But then it came out that Bain Capital spent millions lobbying Congress to ensure that the carried interest loophole was not closed. That is not fine. It is the sort of corruption of our electoral system that Republicans revel in.

#7 | Posted by gtbritishskull at 2019-02-09 08:56 AM | Reply | Newsworthy 1

Any taxes paid by Netflix would just be passed on to their subscribers.

#8 | Posted by visitor_ at 2019-02-09 09:48 AM | Reply | Funny: 1

"Any taxes paid by Netflix would just be passed on to their subscribers."

Netflix is recently finding out where the line is with that argument. Television isn't the same thing as healthcare. There is a limit to what consumer's will pay for the product before they resort to other options.

#9 | Posted by Hagbard_Celine at 2019-02-09 10:48 AM | Reply

Any taxes paid by Netflix would just be passed on to their subscribers.

#8 | Posted by visitor_

Seriously? Did you REALLY post that? You know how taxes on corporations work right?

#10 | Posted by GalaxiePete at 2019-02-09 10:50 AM | Reply

Any taxes paid by Netflix would just be passed on to their subscribers.

And?

#11 | Posted by JOE at 2019-02-09 02:38 PM | Reply

Any taxes paid by Netflix would just be passed on to their subscribers.

#8 | Posted by visitor_

And any taxes netflix DOESNT pay will be passed on to taxpayers who can't afford lobbyists.

#12 | Posted by SpeakSoftly at 2019-02-09 05:22 PM | Reply | Newsworthy 2

"Any taxes paid by Netflix would just be passed on to their subscribers."

So just increase taxes by 10,000% or so and the debt will be gone!

While we're at it, let's make the minimum wage $500/hr so people can afford Netflix.

#13 | Posted by snoofy at 2019-02-09 05:27 PM | Reply

Haven't you heard? Taxes are evil.

#4 | POSTED BY SPEAKSOFTLY

The line I most commonly hear from my libertarian friends.. "Taxes are theft."

#14 | Posted by Whatsleft at 2019-02-09 06:23 PM | Reply

...and what they want is for you to pay more, while they pay less.

A.K.A. "broaden the tax base".

#15 | Posted by FedUpWithPols at 2019-02-09 10:42 PM | Reply

People pay for Netflix???

Ha ha.

#16 | Posted by MrSilenceDogood at 2019-02-10 04:53 AM | Reply

People pay for Netflix???

Ha ha.

#16 | Posted by MrSilenceDogood

DId you just confess to a felony online? Or insult those who don't commit them?

#17 | Posted by SpeakSoftly at 2019-02-10 03:09 PM | Reply

You should report me at once to one of your pig friends, #17.

Their dumbasses probably pay for Netflix too.

#18 | Posted by MrSilenceDogood at 2019-02-10 08:51 PM | Reply

Any taxes paid by Netflix would just be passed on to their subscribers.

#8 | POSTED BY VISITOR_

And once again Republicans show that they do not understand economics. Companies price their product to maximize profit (or minimize loss). As the price of a product increases, less people buy it. At some point (the profit maximizing point) if you INCREASE the price then you make less money because the decrease in customers overcomes the increase in profits per customer. At the same time if you DECREASE price then you still make less money because the increase in customers does not overcome the decrease in profits per customer. This is the price that a company strives for because it is the most money they can make (without increasing demand).

Notice that increases in taxes do not change the equation.

Now, increases in taxes can decrease competition (because there are less profits to be made so less competition enters or stays in the market). Which CAN lead to a price increase. But it is in no way guaranteed, and it also is unlikely to lead to a 1:1 (or greater) increase. And is not what Republicans' juvenile view of economics says is happening.

#19 | Posted by gtbritishskull at 2019-02-10 08:59 PM | Reply

You should report me at once to one of your pig friends, #17.

Their dumbasses probably pay for Netflix too.

#18 | Posted by MrSilenceDogood

People who sucked in life always feel justified in stealing from "hollywood."

Jealousy is a powerful motivator.

#20 | Posted by SpeakSoftly at 2019-02-11 11:06 AM | Reply

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