3 ms·

I assume this has something to do with the massive amount of debt that fuels Netflix original programming. That being said, our entire tax system is regressive,

I assume this has something to do with the massive amount of debt that fuels Netflix original programming. That being said, our entire tax system is regressive, for both businesses and individuals, when it comes to dealing with it's complexity. A small or medium size business does not have the legal or accounting capability to navigate the tax code as successfully as a company like Netflix can. Similarly, even a high income individual can't stretch the tax code like billionaires can. On net it seems like the lower and middle income players subsidize the high income players both in business and personal taxes.

refurb 8y ago
Regressive? The top 1% of earners paid the highest tax rate of 27.1%. The bottom 50% had an average tax rate of 3.5%.[1] [1]https://taxfoundation.org/summary-federal-income-tax-data-2017/ https://taxfoundation.org/summary-federal-income-tax-data-20...
- moate 8y ago
  From your same report: "The share of reported income earned by the top 1 percent of taxpayers rose slightly to 20.7 percent in 2015. Their share of federal individual income taxes fell slightly, to 39.0 percent." This is the problem people are trying to point out. Yes, poor people pay a lower % of their income in taxes than rich people, because the real number is more important due to the static cost of goods across all income brackets. The problem is, everyone expects people to pitch in their share, and it feels like the ultra-wealthy and corporations frequently find or create new ways to pay less than "they're supposed to". What anyone is "supposed" to pay in taxes is obviously entirely subjective, but when you hear things like "rich people are making more money while also paying less in taxes" at the same time you're hearing about how our economy is funneling wealth away from the lower and middle classes and into the investor and upper classes, people get annoyed.
- deleted 8y ago
  [deleted]
- saberience 8y ago
  It is absolutely regressive when the top earners, presumably earning millions more than I do, end up paying less tax than I do.
  - refurb 8y ago
    What if they are applying a carry loss forward that year? To account for all the money lost in an investment last year? Should we stop doing that?
    - jessaustin 8y ago
      Say we do take this option away from rich people. What are they going to do with their money? They aren't going to shove it under the mattress. Instead, they will consume more and invest less. Consumption is good, right? More dollars chasing goods and services will drive profits and wages up. That will encourage investment, not just from rich people who are subject to USA tax but from all over the globe. What's not to like?

refurb 8y ago

Regressive? The top 1% of earners paid the highest tax rate of 27.1%. The bottom 50% had an average tax rate of 3.5%.[1] [1]https://taxfoundation.org/summary-federal-income-tax-data-2017/ https://taxfoundation.org/summary-federal-income-tax-data-20...

moate 8y ago
From your same report: "The share of reported income earned by the top 1 percent of taxpayers rose slightly to 20.7 percent in 2015. Their share of federal individual income taxes fell slightly, to 39.0 percent." This is the problem people are trying to point out. Yes, poor people pay a lower % of their income in taxes than rich people, because the real number is more important due to the static cost of goods across all income brackets. The problem is, everyone expects people to pitch in their share, and it feels like the ultra-wealthy and corporations frequently find or create new ways to pay less than "they're supposed to". What anyone is "supposed" to pay in taxes is obviously entirely subjective, but when you hear things like "rich people are making more money while also paying less in taxes" at the same time you're hearing about how our economy is funneling wealth away from the lower and middle classes and into the investor and upper classes, people get annoyed.
deleted 8y ago
[deleted]
saberience 8y ago
It is absolutely regressive when the top earners, presumably earning millions more than I do, end up paying less tax than I do.
- refurb 8y ago
  What if they are applying a carry loss forward that year? To account for all the money lost in an investment last year? Should we stop doing that?
  - jessaustin 8y ago
    Say we do take this option away from rich people. What are they going to do with their money? They aren't going to shove it under the mattress. Instead, they will consume more and invest less. Consumption is good, right? More dollars chasing goods and services will drive profits and wages up. That will encourage investment, not just from rich people who are subject to USA tax but from all over the globe. What's not to like?