Meta has barely paid 2% of taxes this year thanks to a $8 billion tax aid, and now Congress wants to review whether it is also benefitting from tax deductions for its AI data centres.
Exactly, we don't know what their book to tax adjustments are. People just spout non sense because it seems cool, but they don't understand the tax code
No. I think all these deductions are part of the problem. The entire government revenue system is massively inefficient. These tech companies are the most profiitable companies in the history of the world... i think they can forgo the deductions and be just fine.
See, you don't understand the tax code at all because you thought meals are fully tax deductible. They are only 50% deductible while a companies financials say they're fully deductible. Thank you for proving my point
Wrong, it's only 50% deductible. People who don't understand taxes shouldn't really be commenting on taxes 🤷♂️saying meta's effective tax rate is 4% is tax expense compared to book income. You have no idea what their book to tax adjustments are
Your country is completely captured by corrupt capitalist. It's unforgivable that with the amount of debt US is accruing, you are giving tax breaks to these destructive corporations.
Out of everyone, these social media giants need to pay the most tax, not the least.
Yeah just let me know who primarily pays the corporate tax, one weird thing about taxing a group or an entity is it's ultimately people who pay such a tax.
Like if one was to search "looking at empirical studies who bears the incidence of a corporate income tax" what do you think the answer would be?
Are you asking me to spoon feed you do corporations bear corporate tax? The hell are you on about? if you're trying to gotcha me by saying corporations bear more tax burden is that answering my question? No. They have paid less and less a share. Empirically. e a d
The corporate tax rate has plummeted for decades. Wages have remained stagnant. Wealth has higher levels of concentration than ever and its because of a lack of corporate taxes, which you so beg for any one with 1 year of Econ/Business to trumpet back to you. no shit Sherlock. our whole system is based around capital begetting more capital, but its on the backs of labor and the gains of their skills/knowledge/productivity, and the system of government that protects property rights and protects trade.
No I'm asking you who actually pays the taxes from the corporate tax? Entities don't pay taxes ultimately people pay taxes. You keep saying "corporations" but which groups of people specifically are you wanting to tax, because an entity doesn't pay taxes? What groups of people pay the corporate tax according to empirical studies?
Tax stock buybacks as if they are dividends + 25%.
There are a ton of things that could be done that would make investing in the business, communities, and employees more enticing than just shoveling cash to shareholders using different mechanisms.
>Tax stock buybacks as if they are dividends + 25%.
Why +25%? When its basically a dividend? Just tax at the same rate.
>would make investing in the business, communities, and employees
That not true at all. Businesses loves making profit, shareholders love when firms expand. The reason a firm pays dividends or does buy backs and returns that money to the owners is because they don't have any better ideas.
they will just say its for national security and get a free pass ... all these companies are in bed with the feds, because the feds are spying on its citizens
These companies over-buy GPUs to create barriers to entry knowing that they can write off the unused GPUs as depreciation and have the taxpayers fund their barrier to entry. This is pure rent seeking and the fact that the courts look the other way and pretend it is okay shows you that we have no functioning government at this time. Monopolies are doing as they please and the tax code is their playground. These monopolies would not exist were it not for corrupt legal malpractice like the ongoing abuse of software monopolies and closed drivers which are enforced by the US federal government against the citizens.
Meta and other corporations are issuing a ton of bonds to fund their datacenter expansions, competing with the government's own treasuries. Many investors see these AI companies as more trustworthy than our own government, who is $40T in the hole, which is one of the reasons the yields have gone up so much. This should get pretty interesting. I wonder what deal they'll work out and how it'll screw the rest of us.
[OP] Sufficient_Fuel5269 | 12 hours ago
Meta has barely paid 2% of taxes this year thanks to a $8 billion tax aid, and now Congress wants to review whether it is also benefitting from tax deductions for its AI data centres.
Obvious_Chapter2082 | 11 hours ago
>barely paid 2% of taxes this year
That’s not really what it means though, it’s just saying their effective tax rate was 2%. Doesn’t really relate to the tax they actually pay
Most-Swimming6879 | 9 hours ago
Exactly, we don't know what their book to tax adjustments are. People just spout non sense because it seems cool, but they don't understand the tax code
Creative_Ad_8338 | 8 hours ago
Or, just maybe, the tax code is fucked.
L_Cranston_Shadow | 4 hours ago
Porque no los dos?
Most-Swimming6879 | 7 hours ago
Do you think meals a business pays for it's employees should be tax deductible?
Creative_Ad_8338 | 6 hours ago
No. I think all these deductions are part of the problem. The entire government revenue system is massively inefficient. These tech companies are the most profiitable companies in the history of the world... i think they can forgo the deductions and be just fine.
Most-Swimming6879 | 6 hours ago
See, you don't understand the tax code at all because you thought meals are fully tax deductible. They are only 50% deductible while a companies financials say they're fully deductible. Thank you for proving my point
Imaginary_Zone_4319 | 5 hours ago
Why wouldn’t it be? It’s an expense that is paid out before profit - of course it’s tax deductible, as only profits are taxed.
Obvious_Chapter2082 | 5 hours ago
It’s not currently tax deductible. Only 50% of it is
Most-Swimming6879 | 5 hours ago
Wrong, it's only 50% deductible. People who don't understand taxes shouldn't really be commenting on taxes 🤷♂️saying meta's effective tax rate is 4% is tax expense compared to book income. You have no idea what their book to tax adjustments are
Ugliest_weenie | 10 hours ago
Your country is completely captured by corrupt capitalist. It's unforgivable that with the amount of debt US is accruing, you are giving tax breaks to these destructive corporations.
Out of everyone, these social media giants need to pay the most tax, not the least.
Your political class will not change this.
Willing_Activity_855 | 9 hours ago
Should we insentive companies to build heavy industry in the USA? Say like a modern high tech factory?
Not by giving them money of course but by making that spending s tax deduction
On5thDayLook4Tebow | 8 hours ago
Incentivize*
And no. We need to stop pussy footing around and tax corporations. full stop.
Willing_Activity_855 | 4 hours ago
Yeah just let me know who primarily pays the corporate tax, one weird thing about taxing a group or an entity is it's ultimately people who pay such a tax.
Like if one was to search "looking at empirical studies who bears the incidence of a corporate income tax" what do you think the answer would be?
On5thDayLook4Tebow | 4 hours ago
Are you asking me to spoon feed you do corporations bear corporate tax? The hell are you on about? if you're trying to gotcha me by saying corporations bear more tax burden is that answering my question? No. They have paid less and less a share. Empirically. e a d
The corporate tax rate has plummeted for decades. Wages have remained stagnant. Wealth has higher levels of concentration than ever and its because of a lack of corporate taxes, which you so beg for any one with 1 year of Econ/Business to trumpet back to you. no shit Sherlock. our whole system is based around capital begetting more capital, but its on the backs of labor and the gains of their skills/knowledge/productivity, and the system of government that protects property rights and protects trade.
Willing_Activity_855 | 2 hours ago
No I'm asking you who actually pays the taxes from the corporate tax? Entities don't pay taxes ultimately people pay taxes. You keep saying "corporations" but which groups of people specifically are you wanting to tax, because an entity doesn't pay taxes? What groups of people pay the corporate tax according to empirical studies?
OffalSmorgasbord | 8 hours ago
Tax stock buybacks as if they are dividends + 25%.
There are a ton of things that could be done that would make investing in the business, communities, and employees more enticing than just shoveling cash to shareholders using different mechanisms.
Obvious_Chapter2082 | 6 hours ago
Taxing buybacks does nothing to incentivize investing in the business
Willing_Activity_855 | 6 hours ago
>Tax stock buybacks as if they are dividends + 25%.
Why +25%? When its basically a dividend? Just tax at the same rate.
>would make investing in the business, communities, and employees
That not true at all. Businesses loves making profit, shareholders love when firms expand. The reason a firm pays dividends or does buy backs and returns that money to the owners is because they don't have any better ideas.
Defiant-Classroom-20 | 4 hours ago
Usians are too lazy or weak to do anything about it other than hold up signs and vote for less-corrupt politicians
WhereMyWeirdosAt | 5 hours ago
they will just say its for national security and get a free pass ... all these companies are in bed with the feds, because the feds are spying on its citizens
ahfoo | 4 hours ago
These companies over-buy GPUs to create barriers to entry knowing that they can write off the unused GPUs as depreciation and have the taxpayers fund their barrier to entry. This is pure rent seeking and the fact that the courts look the other way and pretend it is okay shows you that we have no functioning government at this time. Monopolies are doing as they please and the tax code is their playground. These monopolies would not exist were it not for corrupt legal malpractice like the ongoing abuse of software monopolies and closed drivers which are enforced by the US federal government against the citizens.
Mighty_Pen_1337 | 4 hours ago
Meta and other corporations are issuing a ton of bonds to fund their datacenter expansions, competing with the government's own treasuries. Many investors see these AI companies as more trustworthy than our own government, who is $40T in the hole, which is one of the reasons the yields have gone up so much. This should get pretty interesting. I wonder what deal they'll work out and how it'll screw the rest of us.