One of the exciting new aspects of the Republican tax cuts on the wealthy and big businesses was how quickly everybody else begins to get screwed on their tax returns. Equally exciting is the fact that those tax breaks seem to only get better and better for the one percent! Labor 411! reports that streaming behemoth Netflix “posted its largest-ever U.S. profit in 2018—$845 million—on which it didn’t pay a dime in federal or state income taxes.” They even got a $22 million rebate! Yay for the little guy!
But don’t you fret! Republicans and other conservative economic scam artists like to remind us all that in saving all of that tax money, and bulging with more profits, companies like Netflix will not only build out their infrastructure, they will pass on that savings to the consumer!
The service’s most popular plan will increase from $11 to $13 per month for HD streaming. Netflix’s most expensive plan, which offers 4K content and up to four simultaneous streams on different devices, will increase from $14 to $16. And the service’s basic plan, which doesn’t offer HD, will raise from $8 to $9.
If you are a new subscriber you’ll feel those cost hikes immediately! If you are an existing subscriber you’ll have between now and three months from now to experience what life was like before those tax breaks turned these big companies into a bunch of Santas!