Matt Gaetz Calls to End Disney $600 Million ‘Tax Cheat’ Loophole

Republican Matt Gaetz is fighting back after Disney has vowed to push its left-wing “woke” agenda on kids. The company openly admits that they are “adding queerness” to children’s programming, according to a leaked video of executive producer Latoya Raveneau. Disney Corporate President Karey Burke also announced plans to add “many, many, many LGBTQ characters” to its shows and movies. The company said 50% of its characters will either be minorities or LGBTQ by the end of the year.

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Making matters even worse, Disney has stood in public opposition to Florida’s anti-grooming bill that prevents teachers in third grade and younger from instructing kids on sex and gender identity without parental involvement. This impacts kids who are about eight years old and younger. This indicates that Disney believes children should learn about sex and gender identity without parental involvement. The majority of Americans living in Florida disagree with Disney’s radical stance. The anti-grooming bill passed through Florida’s legislature and it was signed into law.

U.S. Rep. Matt Gaetz says it’s time to end Disney’s $600 million tax cheat loophole. Walt Disney Corporation benefits from a Florida tax code loophole that has allowed Disney to potentially skirt around hundreds of millions of dollars in state corporate income taxes.

Gaetz, who is a former Florida House chairman of Finance and Tax, say that Florida should join the majority of states in adopting combined reporting of state corporate income taxes.

“This allows Florida to fully realize Disney’s corporate income taxes from as a proportion of their overall, or ‘combined’ reported income,” Gaetz explains.

“The nonpartisan Florida Revenue Estimating Conference says that this measure would have a recurring impact of $591.7 million on Florida’s budget. That’s $591.7 million that Florida Man and Florida Woman have to shoulder because Disney has fancy lawyers, lobbyists and accountants,” he continues.

“If Mickey’s ears are purchased in Orlando, that revenue shouldn’t find itself taxable in Delaware through nifty accounting and outdated laws,” Gaetz said.

“Combined reporting is hardly a tool of liberals. Even Texas made the obvious change to protect the pocketbooks of its own citizens,” he added.

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He said combined reporting of state income taxes would provide “accurate and fair reporting on taxable income to the IRS.”

“The Walt Disney Company, which grossed $72.9 billion last year, should be accurately reporting its income in the states and countries where its business is conducted,” Gaetz said.

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Gaetz called on Republicans and Democrats in the state legislature to address this taxation disparity.

“I envision a Sunshine State where all corporations play fair and, consequentially, hard-working Floridians pay less in taxes, the Florida conservative said. “I hope you join me, as I call on both Democrats and Republicans in the Florida Legislature to act now and end the Disney tax loophole.”

Gaetz’s proposal serves as the latest way for that Republicans have fought back against the megacorporation’s “woke” crusade.
Disney has opposed Gov. Ron DeSantis’s Parental Rights in Education Act and has pushed “many, many, many LGBTQIA characters in its stories.”

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Other Republicans have proposed measures to fight back against Disney’s LBGT campaign.

House Republican Study Committee (RSC) Chairman Jim Banks (R-IN) said he will fight to rescind Mickey Mouse’s copyright renewal.