Facebook makes $1.1 billion, pays $0 in taxes, gets refund (Page 2)

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2013-02-19 11:47 AM
in reply to: #4627920

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Subject: RE: Facebook makes $1.1 billion, pays $0 in taxes, gets refund
DanielG - 2013-02-19 8:43 AM
Fokker416 - 2013-02-19 8:40 AM  

I'm in for a national sales tax then everybody pays taxes, rich, poor, middle class, drug dealers, illegals, tourists, everybody.  If you buy something within our borders you pay your share.  It works in Florida.

I'd be for that IF the IRS were scrapped and it was only sales tax. That'll never happen, though. It'll end up as both income tax and sales tax.

Unfortunately, I agree.  The government and the lobbyist's ability to wield power through manipulation of the tax code is something I don't see them giving up readily.  Shame though.

 

Florida is not unique in that it has a sales tax.  Florida does not have an income tax.

2013-02-19 12:13 PM
in reply to: #4628194

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Subject: RE: Facebook makes $1.1 billion, pays $0 in taxes, gets refund
ckallpoints - 2013-02-19 11:01 AM
japarker24 - 2013-02-19 7:52 AM
Fokker416 - 2013-02-19 8:40 AM

JoshR - 2013-02-18 11:01 AM But we have the highest corporate taxes in the world!

You have to love our trainwreck of a tax code.  Sure, the rates are high, but it's the rate on your taxable income after everything is written off.  It's how the uberrich can claim they play a lower percentage than their employees.  They write a huge portion of their income off and pay a high rate on a small portion of their income. 

I'm in for a national sales tax then everybody pays taxes, rich, poor, middle class, drug dealers, illegals, tourists, everybody.  If you buy something within our borders you pay your share.  It works in Florida.

What state doesn't have a sales tax?

 

Oregon doesn't, they tried several times to pass one but it gets shut down every time. Its kinda nice to go buy something and pay whats on the price tag.

Montana and Delaware as well.

2013-02-19 1:31 PM
in reply to: #4626614

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Subject: RE: Facebook makes $1.1 billion, pays $0 in taxes, gets refund
TriRSquared - 2013-02-18 7:26 AM

http://gawker.com/5984831/facebook-will-pay-no-taxes-get-huge-refund-instead

They pay no taxes because they can deduct executive stock options when they went IPO. 

What?  Why are executive stock options non-taxable?

Worse yet they are getting $429 million BACK from the government.

That is sickening.

I don't think that article is accurate.  These "Profits" were from going public and the public buying in.  The article does not take into account Liabilities...You know...that thing that happened 45 minutes after they went public?

It is pretty publicly known (with bullhorns, billboards, and skywriting) that Facebook LOST over half of it's value as soon as it became a public entity. (Hence the refund being approximately half of the "profits")

They pay no taxes because they didn't net any money.  Somebody else lost half of their money.

If somebody lent me $20, and by the time it reached my hand it was only $10...I wouldn't pay them back the full $20.  This is just that.

Perhaps I am seeing it wrong, but anybody who had a finger in the name "Facebook" lost half of their money last year.  Even by signing a piece of paper, Mark Zuckerberg is only half as rich as he was...Everybody lost money on that transaction.

I wouldn't be the least bit concerned about their executive stock options.  They aren't nearly as valuable as the article implies.

I don't say this specifically to defend Facebook, as I feel that every facet of their move to go public contains a scam of some level.  Not just on their part, but on Wallstreet's part as well. (What a funny glitch that occurred the second it went public!)...but this article doesn't take that into account.



Edited by lifejustice 2013-02-19 1:34 PM
2013-02-19 1:34 PM
in reply to: #4626614

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Subject: RE: Facebook makes $1.1 billion, pays $0 in taxes, gets refund

Even by signing a piece of paper, Mark Zuckerberg is only half as rich as he was...Everybody lost money on that transaction.

Not entirely true.  They lost half of what they set as the IPO's initial value.  Which was greatly overestimated.  But their value as a public company, even at half the IPO price, is still likely much higher than when they were private.



Edited by spudone 2013-02-19 1:35 PM
2013-02-21 5:01 AM
in reply to: #4627916

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Subject: RE: Facebook makes $1.1 billion, pays $0 in taxes, gets refund
Fokker416 - 2013-02-19 1:40 PM

JoshR - 2013-02-18 11:01 AM But we have the highest corporate taxes in the world!

You have to love our trainwreck of a tax code.  Sure, the rates are high, but it's the rate on your taxable income after everything is written off.  It's how the uberrich can claim they play a lower percentage than their employees.  They write a huge portion of their income off and pay a high rate on a small portion of their income. 

I'm in for a national sales tax then everybody pays taxes, rich, poor, middle class, drug dealers, illegals, tourists, everybody.  If you buy something within our borders you pay your share.  It works in Florida.

The drug dealers in Florida add on sales tax Surprised

2013-02-21 7:03 AM
in reply to: #4631156

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Subject: RE: Facebook makes $1.1 billion, pays $0 in taxes, gets refund
TriSte - 2013-02-21 6:01 AM
Fokker416 - 2013-02-19 1:40 PM

JoshR - 2013-02-18 11:01 AM But we have the highest corporate taxes in the world!

You have to love our trainwreck of a tax code.  Sure, the rates are high, but it's the rate on your taxable income after everything is written off.  It's how the uberrich can claim they play a lower percentage than their employees.  They write a huge portion of their income off and pay a high rate on a small portion of their income. 

I'm in for a national sales tax then everybody pays taxes, rich, poor, middle class, drug dealers, illegals, tourists, everybody.  If you buy something within our borders you pay your share.  It works in Florida.

The drug dealers in Florida add on sales tax Surprised

Sales tax, extortion money it's one in the same isn't it? 



2013-02-21 7:07 AM
in reply to: #4626731

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Subject: RE: Facebook makes $1.1 billion, pays $0 in taxes, gets refund

tmwelshy - 2013-02-18 10:21 AM Why would/should the company be taxed for paying employees? 

 

What the heck am I doing wrong as I am taxed for paying employees?!??

2013-02-21 5:54 PM
in reply to: #4628658

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Subject: RE: Facebook makes $1.1 billion, pays $0 in taxes, gets refund
spudone - 2013-02-19 2:34 PM

Even by signing a piece of paper, Mark Zuckerberg is only half as rich as he was...Everybody lost money on that transaction.

Not entirely true.  They lost half of what they set as the IPO's initial value.  Which was greatly overestimated.  But their value as a public company, even at half the IPO price, is still likely much higher than when they were private.

Plus, you don't lose a dollar unless you sell.  So wealth on paper is not a real loss.  That's my take anyway

2013-02-22 1:34 AM
in reply to: #4632356

Subject: RE: Facebook makes $1.1 billion, pays $0 in taxes, gets refund
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