Mastodawn

Robert Reich Mar 15, 2024

5 years of exec pay:

Tesla: $2.5 billion
T-Mobile: $675 million
Netflix: $652 million
Ford: $355 million

5 years of federal income taxes paid:

Tesla: $0 ($1M refund)
T-Mobile: $0 ($80M refund)
Netflix: $236 million
Ford: $121 million

Anyone else see the problem here?

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Capros

@rbreich We need a minimum tax for all corporations - especially the large ones. No matter how much write-off they have, they still MUST pay SOMETHING - perhaps a 10-15% minimum before write-offs. Also, a cap on exec pay for any company that is not private and owned by one or more individuals (not corporations). Not sure what the cap is but should be based on average pay of hourly workers with a cap on the top per-hour limit. (no loopholes.)

There needs to be a global minimum tax to stop corporations off-shoring.

The tax could then be distributed in the proportion of revenue earned in each jurisdiction.

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Hugh Ferguson Mar 16, 2024

@TCMuffin @Capros @rbreich the easy solution to companies offshoring is tarrifs. But that goes against the free trade narrative which they have been selling us. Want to incorporate in no-tax-land? Fine. 20% tarrifs on your exports.

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Capros Jul 9, 2024

@hfinyow @TCMuffin @rbreich
Rather than tariffs, how about simply making companies pay a minimum income tax. Sick of Amazon and other huge companies paying nothing at all or getting huge refunds. All companies with revenue over $1 million need to pay a minimum tax, NOT a flat tax. Say 20% rising to 50%. GOP loves to talk about the 1950s - corporate tax rate was 52%. We also need an excess profits tax again.

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Patsy Mar 16, 2024

@Capros @rbreich I think a 99% tax on profits over 999 million would do justice