200 percent a year for 10 years it s a pretty simple once you see the raw numbers. greetings and sell you. the only certainty in life my friends this is death and taxes unless of course you re a vampire or a major corporation who made mountains of profit off the code 19 lockdowns welcome one and all to the magical financial books of resume yes it appears that the us based online video chat platform that exploded in popularity in use during the 2020 lockdowns has apparently seen its profits soar by 4000 percent while paying 0 yes 0 dollars in federal corporate income taxes you see according to a new analysis by the institute on taxation and economic policy while zoom reportedly posted $660000000000.00 of pretax profits for 2020 an exponential increase from its $16000000.00 in pretax profits in 2019 the company effectively dodged paying a massive tax bill on those profits by quote the companies that lavish use of executive stock options zoom s income tax reconciliation says it
you see according to a new analysis by the institute on taxation and economic policy while zoom reportedly posted $660000000000.00 of pretax profits for 2020 an exponential increase from its $16000000.00 in pretax profits in 2019 the company effectively dodged paying a massive tax bill on those profits by quote the companies that lavish use of executive stock options zooms income tax reconciliation says it reduced its worldwide income taxes by 300000000 in 2020 using this stock based compensation method and then use the old amazon net flix 0 tax 2 step of accelerated depreciation combined with research and development tax credits all of that together results in paying 0 federal. brigham taxes while raking in 660000000 in profits and my friends would zoom bid with that company did is all perfectly legal meanwhile pro publica is now reporting that as the united states internal revenue service the revenue service ability to audit the rich crumbles its scrutiny of the poor has he
time at the same time of course i know it s this whole matter trygaeus more uncertainty i regret that deeply and apologize to all citizens it s a good market strains of small and comes off a massive wave of criticism and protests in the country or a 1000 people rallied in the german capital against an expensive knocked out in the wake of a turnaround the left parties are urging the shots over to a table of vote of confidence in the government 4. video conference enjoy the xoom both $600000000.00 in profits but pays 0 federal corporate to come tax was in the hawks investigates that story and more that next to the table are back in 30 with the latest headlines join us again. thank you. thank. you greetings and sell you. the only certainty in life from my friends is death and taxes unless of course you re a vampire or a major corporation who made mountains of profit off the code 19 lockdowns welcome one and all d to the magical financial books of resume yes it appears that the
$660000000.00 in profits and my friends would zoom did with that company did it is all perfectly legal meanwhile pro publica is now reporting that as the united states internal revenue service a bill forever new services ability to audit the rich crumbles its scrutiny of the pour has held steady in recent years and that according to data released by the i.r.s. last week millionaires in just 2018 were about 80 percent less likely to be audited than they were in 2011. yes my friends right now if you were making $20000.00 a year under here in the u.s. you are facing the same if not more scrutiny and potential i.r.s. audit on your taxes than if you re say jeff bezos or. so all the rest of the news media destructs this would be talk of banning assault weapons or trump s new adventures and social media companies let s let s follow the money and start watching the hawks. was on a cd you st. peter so let s see this is joyce state see. grace see this least systemic deception is to la
and bloomberg has confirmed an internal memo from the fbi pointing to more armed protest nationwide in the days leading up to president-elect biden s inauguration. are we in a merit are we in imminent danger? we will speak to a guest who has been tracking threats online. and at coin falls the most since march, as much as 26% at one point. it s a meteor cannot hundred percent advance the last two years had even bank of america saying is this the mother of all bubbles? that story in a moment, but first around up on the big stories of the day. of course, big tech under pressure, we saw shares of facebook, twitter and amazon sliding on the back of the preventative measures they have taken to silencing cut off president trump. twitter ban to trump from the platform permanently and facebook has banned the president indefinitely. guest,to bring in our who will give us around up on markets for the day. where did we end up? a major pullback led to the downside for big tech names.