Money Matters and More

Who wants to pay more taxes? 

Netflix, that’s who.  Yes, that  Netflix, the wildly successful, movie rental company that’s made more than a billion(!) DVD deliveries since its birth in 1997. 

Surprisingly, Reed Hastings, Netflix chief executive makes the case for forking over 50% of his company’s huge earnings, (instead of the current one-third.)

What’s come over him, we ask?  Hastings thinks the Obama administration’s plans to cap executive pay simply won’t work.  He explains why on today’s editiorial page of the New York Times (page A23).   A few excerpts illustrate his point:

“President Obama should celebrate our success rather than trying to shame us or cap our pay. But he should also take half of our huge earnings in taxes, instead of the current one-third. 

Then the next time a chief executive earns an eye-popping amount of money, we can cheer that half of it is going to pay for our soldiers,  schools; and security.  Higher taxes on huge pay days can finance opportunity for the next generation of Americans.”

Can a plan like this work? 

Should we make businesses foot the bill at a rate of 50% because they’re so successful?  

And do you think Hastings’ proposal is something that will be taken seriously?  How many other CEOs would be willing to join the call?

Let me know what you think.  Feel free to leave a comment below, email us at www.moneymattersandmore@yahoo.com, or subscribe to the feed or email, by clicking the orange icons in the upper right-hand corner of this page.

Have a safe and peaceful weekend.

Thanks for reading.

Heather Taylor