Facebook Will Pay No Taxes, Get Huge Refund Instead

[King]

But the executives who received these options will have to pay taxes on them so it's not all bad.

[King]

But the executives who received these options will have to pay taxes on them so it's not all bad.

Do you really think that tax income adds up to more than what they lost and gave away to Facebook?

No, of course not.  I wasn't being serious.

What really should happen is we need to switch the corporate tax structure to a flat tax with no exemptions or deductions.  Simpler, flatter, fairer, and if Obama proposes it, socialism.

[King]

This is disgusting.  Capitalism blows.

It's Corporatism. That's the whole issue. People mistake a "hands-off" approach as something that will bring them that much closer to pure capitalism because of the haphazard rhetoric being thrown around all the time. In reality all it does is push us closer to falling off an economic cliff into some sort of corporate autocracy. We have a political system infested with profiteers in office with no intention to actually benefit their constituents. And we have a powerful oligarchical media structure that reinforces it by keeping the public either uninformed or misinformed.

Pretty much.  Adam Smith would not approve of tax subsidies.

[King]

Perhaps there should be an AMT equivalent for corporate taxes. But unlike the AMT, this one would actually get adjusted for inflation every tax year.

The AMT becoming inflation-adjusted was part of the fiscal cliff deal.