Published On: Wed, Nov 20th, 2019

Bernie Sanders Takes Aim At Netflix For Paying Less Income Tax Than An $8.99 Subscription

Democratic presidential candidate, U.S. Sen. Bernie Sanders (I-VT) speaks during the Nevada Democrats' "First in the West" event at Bellagio Resort & Casino on November 17, 2019 in Las Vegas, Nevada.

Democratic presidential candidate Bernie Sanders took to Twitter Tuesday to call out Netflix for the amount of income tax the company paid in 2018, Newsweek reports.

“Your $ 8.99 Netflix subscription is more than the company paid in federal income taxes last year (nothing),” he wrote. “We are going to make massive corporations finally pay their fair share.”

According to Netflix, it paid an effective tax rate of 1 percent in 2018, which is still far below the federal corporate tax rate of 21 percent, Bloomberg reports. The company reportedly claimed deductions and research expenses it was eligible for by paying employees in stock.

In addition, Netflix reportedly paid approximately $ 133 million in foreign taxes in 2018, which allowed them to receive foreign tax credits that put the company’s tax rate into the negative.

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Bernie Sanders Takes Aim At Netflix For Paying Less Income Tax Than An $8.99 Subscription