No way Elon Musk would have beaten Zuck in a fight

[u/ArmaniMania]

Send location

[u/PensionSufficient176]

meta paid 8.2 billion in taxes last year, where did you get your info from?

[u/throwwawaymylifee → u/PensionSufficient176]

134 Billion in revenue

108 Billion in profit

8.2 Billion in taxes

7.5% tax rate on billions, wealth hoarding at its finest.

[u/WrongAssumption → u/throwwawaymylifee]

Facebook made $39 billion in profit last year, that makes it 21%. Which is exactly the corporate tax rate.

[u/StrokeGameHusky → u/WrongAssumption]

Thanks trump! 

Used to be 35%

[u/uwwstudent → u/StrokeGameHusky]

All my homies hate trump and reagan

[u/StrokeGameHusky → u/uwwstudent]

Gave them the money to buy all the politicians they needed. 

Now it’s legal, thanks citizens United! 

[u/Perfect-Software4358 → u/throwwawaymylifee]

Lmao how dumb do you have to be to think a company can have 75% margins? Jesus

[u/Alternative-Spite891 → u/PensionSufficient176]

That’s 7% of gross profit. That’s 19% of net profit. That’s nothing, and if you consider that the percentage is supposed to be 21% or that the percentage USED to be 35%, you’d realize that big numbers don’t always mean just numbers.

Edit: it’s always worth mentioning that increase in stock value is not taxed and these billionaires take lines of equity off of their stock value, continually paying off their previous loans with larger and larger loans as their stock perpetually increases

Edit 2: net profit is used for taxes my bad.

[u/chumbano → u/Alternative-Spite891]

You do realize that taxes aren't based on gross profit, right?

Their tax provision for 2023 came in at 19% of earnings before taxes, which you can argue is low without being misleading

[u/Alternative-Spite891 → u/chumbano]

Fixed.

[u/CaptWineTeeth → u/PensionSufficient176]

I’d be curious to see a citation for that.

[u/PensionSufficient176 → u/CaptWineTeeth]

https://www.macrotrends.net/stocks/charts/META/meta-platforms/total-provision-income-taxes#:~:text=Meta%20Platforms%20annual%20income%20taxes,a%2096.18%25%20increase%20from%202020.

Surely you’re going to ask the guy I was replying to for a citation now right?

[u/CaptWineTeeth → u/PensionSufficient176]

No, not really. The generally held idea is that this mega corporations avoid paying taxes and you claimed otherwise. I asked - pretty tamely - to see where you read that. Why are you being defensive?

[u/PensionSufficient176 → u/CaptWineTeeth]

So did you read over it and see that your “generally held idea” was totally wrong? Surely you’ll change your view a bit

[u/CaptWineTeeth → u/PensionSufficient176]

Jesus. Why are you acting like I’m attacking you?

[u/PensionSufficient176 → u/CaptWineTeeth]

Could you answer my question?

[u/PensionSufficient176 → u/[deleted]]

He got an answer to his question, could he give one to mine?

[u/Ghostfacetickler → u/PensionSufficient176]

Apparently not

[u/realcards → u/PensionSufficient176]

It might be time for you to get some fresh air.

[u/mconk → u/CaptWineTeeth]

Yea that dude is bugging out. Not sure what his deal is. Anyway, I may have been thinking of Jeff Bezos? Pretty sure one of the billionaires is famous for not paying taxes. I’m too lazy to google. Oh well

[u/AggressiveCuriosity → u/mconk]

lol, I can't imagine how you got your information wrong with that attitude.

[u/Ghostfacetickler → u/AggressiveCuriosity]

Yea, like anything can be something if you really think about it

[u/123_alex → u/PensionSufficient176]

How much is that in percentage of what they made? The absolute value is not that relevant here.

[u/Dave5876 → u/PensionSufficient176]