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?

@rbreich The problem is clear ... Netflix totally didn't buy enough Congress-critters. That percentage is Way to high.
@rbreich The greed goblins will never stop rigging the system until they have everything including your soul.
@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.)

@Capros @rbreich

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.

@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.
@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.
@Capros @rbreich I think a 99% tax on profits over 999 million would do justice
@rbreich there has to be a minimum tax rate for corporations.
@rbreich you and Bernie have been on this for years. POTUS Joe going to deliver
@rbreich So if I don't pay my taxes I'll get a minimum refund of $1M? Awesome! Thanks for the heads up!

@rbreich

"Nope" - a Trump voter living off his mom's Social Security in her basement as the deep freeze hums bad thoughts in his ear

@rbreich Please, please, help someone to do this calculation for the UK. It would be even worse. Netflix and Ford actually paid quite a bit of tax compared with what happens with the Brits. And for personal millionaires' cash there's London and the British VIrgin Islands to squirrel away their money.
#corruption #tax #UK #money #AppleTax
@rbreich Convert the first and last into dollars/per car. I think Tesla is about $1000 per car. Ford is about $17 per car.
@rbreich I fear a majority of Americans just want it to apply to them.
@rbreich Yeah, we let a garbage person pretend to make affordable EV's and he took the money.
@rbreich Yeah -- the government extorts A LOT of money.
@rbreich Taxes paid by the companies, or the execs?
@rbreich It appears that companies that start with the letter T are exempt from federal income taxes

@rbreich

I'm really sad that Netflix has become just another big corpo like all the rest. They were great when they first opened their streaming service. Now they're just a digital landlord.

@rbreich you are mixing corporate taxes with exec pay. The exec pay was paid to individuals who then had to file personal income tax. The exec pay is therefore an expense for the corp, but income for someone else. The claim would habe to be made, how much taxes the individuals receiving the exec pay had actually paid.
@rbreich not just exec pay, we need a wealth tax too and a living wage
@rbreich unlike the others, Tesla made heavy losses for years, risking even bankruptcy. So profits were later offset by that.
@rbreich All this tells me no matter who is in #Government the rich will always win. So, instead of dwelling on this, might as well explain how Americans can maybe play the game too.
@rbreich Likewise for the director of at least one state agency (Idaho). Laughably antiquated IT infrastructure, can't retain staff... The institutional knowledge which really matters walked out the door long ago.
@rbreich
clearly the Netflix and Ford CEOs can't manage money. They paid way too much in taxes.
@rbreich We need to reinstate the Eisnehower tax brackets. If Elvis was able to live the lifestyle he did paying into them then surely Elon can manage.