Yeah, we all know how this tax plan would work but lo and behold we had no idea how quickly we would get proof.
From Marketwatch
“Netflix gives top executives a big raise, citing new tax law “
Netflix Inc. said Thursday that it plans to increase the annual salary for a number of its top executives in 2018, and cited the recently passed tax overhaul for the change.
The streaming giant cited the recent passage of the U.S. federal tax legislation as the reason for the change. The company said salaries of more than $1 million for named executives, other than the chief financial officer, were subject to a substantial surcharge. Because of that, Netflix had a performance-based bonus plan for certain executives.
“With the recent passage of federal tax reform, the performance bonus plan will no longer eliminate such surcharges,” the company said in the filing. “As such, the compensation committee of the board of directors has determined that all cash compensation for 2018 will be paid as salary.”
No mention in there about the 1000s of workers that make the place work. Ah well, they probably didn’t think anyone would notice. So, is anyone gonna notice?