Sen. Bernie SandersBernie SandersThe Hill’s 12:30 Report: Milley apologizes for church photo-op Harris grapples with defund the police movement amid veep talk Biden courts younger voters — who have been a weakness MORE (I-Vt.) targeted Netflix in a tweet, accusing the company of paying less in federal income taxes than the cost of a monthly subscription.
“Your $8.99 Netflix subscription is more than the company paid in federal income taxes last year (nothing),” he tweeted. “We are going to make massive corporations finally pay their fair share.”
Your $8.99 Netflix subscription is more than the company paid in federal income taxes last year (nothing).
We are going to make massive corporations finally pay their fair share.
— Bernie Sanders (@BernieSanders) November 19, 2019
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The presidential candidate has taken aim at large corporations and the wealthy during his campaign for the White House, criticizing President TrumpDonald John TrumpSenate advances public lands bill in late-night vote Warren, Democrats urge Trump to back down from veto threat over changing Confederate-named bases Esper orders ‘After Action Review’ of National Guard’s role in protests MORE’s tax bill for letting “wealthy corporations” off the hook of paying their share of taxes.
Trump’s tax bill that went into effect in January 2018 gave a $1.5 trillion tax cut to U.S. corporations.
A Netflix spokesperson told The Hill it is “untrue” the company paid no federal income tax in 2018. “Globally, we paid $131M in cash taxes in 2018 – including a portion to the US federal government,” the spokesperson said in a statement.
CBS reported in April that Netflix had an estimated negative income tax for fiscal 2018, meaning it reported a $22 million tax rebate and paid nothing. A report from WUSA9 investigated Netflix’s form 10-K, which showed the company spent $133,146,000 in foreign taxes but nothing in federal and state taxes in fiscal 2018.
Sanders also condemned the news that FedEx didn’t owe anything in taxes in fiscal 2018, as reported by The New York Times on Sunday.
Where did the money from Trump’s “tax cuts for the middle class” go? To wealthy corporations who have spent $1 trillion buying back their own stock to enrich executives and wealthy shareholders. That’s not acceptable. https://t.co/tfHGRE1Dq7
— Bernie Sanders (@SenSanders) November 17, 2019