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Outrail posted:I guess this goes in this thread. Let's pretend for a second that I'm very dim. How do mega corps post huge profits and make payouts to shareholders and at the same time not pay any taxes? Like what's the rationale here? I dont see the problem. Company benevolently decides it wants to be headquartered in <insert town here>. To do that it has to sink costs into capital, equipment and labor. To do this would be impossible while also paying local taxes, besides, <insert town here> will already benefit because Company is providing wages to locals who get taxed locally. Company threatens to relocate unless it can get tax breaks locally, and local municipality caves in, because their interests are more in keeping that civilian tax base paying. On a federal level, well we can shift profits and expenses around so the we can show no taxable profit while still making shitloads from an operating level. Tl;dr corporations can both directly negotiate their taxes, and can use loopholes/rules to decrease their tax liability. Its purposely constructed this way atm. Oscar Wild has issued a correction as of 22:31 on Jul 24, 2018 |
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Jul 24, 2018 22:26
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The Miami Marlins tried to (or did do, who knows) that when Dade County tried to sue them for part of their profits since they paid for the Marlin's new baseball stadium. The Marlins then said that they couldn't be sued at the county level and it had to be a federal case because they were an international company based in the British Virgin Islands. People went out and the only thing that they have is a single PO box. No capital, equipment or labor or anything like that. https://deadspin.com/marlins-man-visits-marlins-off-shore-corporate-home-fi-1825266414
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Jul 24, 2018 22:34
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Oscar Wild posted:To do this would be impossible while also paying local taxes lol
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Jul 24, 2018 22:35
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Reminder to all y'all who get mad as heck about welfare queens of benefit scroungers or whatnot: a tax break of 100,000 dollars that's not being paid in tax is equivilent budgetwise to 100,000 dollars taken up by 1000 "scoungers".
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Jul 24, 2018 22:45
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Outrail posted:I guess this goes in this thread. Let's pretend for a second that I'm very dim. How do mega corps post huge profits and make payouts to shareholders and at the same time not pay any taxes? Like what's the rationale here? Certain states/cities around the world have low corporate taxes. So let's say you start an LLC in Denver but you file your papers in, let's say, Delaware because they offer lower taxes as an incentive. Or you be like a town close to me that has a VERY high unemployment rate and lots of unskilled labor. Some outsourced IT firm, like the kind you call for home internet tech support, wanted to open a call center in an abandoned office complex and promised 500 jobs. Well the local city government went nuts over this because its a ghost town and they offered tons of incentives and tax breaks. So the Mayor and city counsel get to brag about how they created jobs. But in the call center no one worked more than 25 hours a week and got paid barely over minimum wage and no benefits. And its a lovely call center job so turn around was very high.
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Jul 24, 2018 23:00
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Apprentice Dick posted:Yeah, my company has a strong full coverage option for $80/month for singles, or they have a HSA based lovely coverage option for $50/month. I have no idea who would sign up for the lovely one, but they keep offering it year over year. Because people keep taking it since it's cheaper and they bank on just not getting sick or injured. Me and a few friends were talking about that the other day and I'm the only one who isn't on an HSA plan. They all took it because "the company puts money in for us so it's like free money" and they might not have as lovely a plan as my companies HSA but we have a $10,000 deductible before it actually covers anything so uh...gently caress that?
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Jul 24, 2018 23:04
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Outrail posted:I guess this goes in this thread. Let's pretend for a second that I'm very dim. How do mega corps post huge profits and make payouts to shareholders and at the same time not pay any taxes? Like what's the rationale here?  
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Jul 24, 2018 23:04
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Good Dog posted:The Miami Marlins tried to (or did do, who knows) that when Dade County tried to sue them for part of their profits since they paid for the Marlin's new baseball stadium. The Marlins then said that they couldn't be sued at the county level and it had to be a federal case because they were an international company based in the British Virgin Islands. The entire loving state of Delaware is empty PO boxes that businesses claim as their corporate HQ
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Jul 24, 2018 23:12
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PostNouveau posted:The entire loving state of Delaware is empty PO boxes that businesses claim as their corporate HQ Wait a sec, has anyone ever actually seen Delaware? Hell I don't think I've even seen a Delaware license plate...
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Jul 24, 2018 23:13
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Hell thousands of them have their address as one specific building that contains nothing more than a very bored receptionist who will tell you about the building but literally nothing else.
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Jul 24, 2018 23:14
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The funny thing is that he's kinda right. Most public libraries in the US began as donations to communities by mega-capitalist, Andrew Carnegie.
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Jul 25, 2018 02:13
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Neutrino posted:The funny thing is that he's kinda right. Most public libraries in the US began as donations to communities by mega-capitalist, Andrew Carnegie. That doesn't make it kinda right. There was no suggestion of charity.
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Jul 25, 2018 02:41
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Outrail posted:I guess this goes in this thread. Let's pretend for a second that I'm very dim. How do mega corps post huge profits and make payouts to shareholders and at the same time not pay any taxes? Like what's the rationale here? The only thing I can think of is the pay is still taxed. So if you bring in some factory/warehouse/call center/whatever your area will get the benefit of the income/property/sales/etc taxes on the people that work there. Also, I'm pretty sure that payouts to shareholders are taxed.
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Jul 25, 2018 03:14
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ate all the Oreos posted:Wait a sec, has anyone ever actually seen Delaware? Hell I don't think I've even seen a Delaware license plate... Hey now I live in de and those license plates can cost six figures on the market if they are low digit ones that have been passed down from generation to generation. http://www.lowdigittags.com/29.html
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Jul 25, 2018 03:30
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Outrail posted:I guess this goes in this thread. Let's pretend for a second that I'm very dim. How do mega corps post huge profits and make payouts to shareholders and at the same time not pay any taxes? Like what's the rationale here? When you give your money to McDonalds, that money first goes into the corporate bank account untaxed. Then McDonalds uses some of that money to pay employees, at which point it is taxed as income. McDonalds also uses that money to buy stuff from other companies, in which case it is transferred to the corporate bank accounts of the other companies, again untaxed. Critically, when McDonalds uses that corporate money to pay for yachts for the top level executives, it is untaxed, so those executives basically get extra untaxable income.
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Jul 25, 2018 03:39
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http://www.abc.net.au/news/2018-07-...c&sf194259614=1 Powerhouse Museum uses public money to prop up fashion fundraiser, at a loss of over $200k. Over 150 guests but only $1200 was donated to the fundraiser.
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Jul 25, 2018 03:47
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TheMostFrench posted:http://www.abc.net.au/news/2018-07-...c&sf194259614=1 Sounds like a great excuse to cut the entire arts and museums budget
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Jul 25, 2018 04:03
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ate all the Oreos posted:Wait a sec, has anyone ever actually seen Delaware? Hell I don't think I've even seen a Delaware license plate... Delaware is one of only six states that has never been featured on Diners, Drive-Ins, & Dives. Makes you think.  The others are Arkansas, Montana, North Dakota, South Dakota, and Vermont.
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Jul 25, 2018 05:13
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Outrail posted:I guess this goes in this thread. Let's pretend for a second that I'm very dim. How do mega corps post huge profits and make payouts to shareholders and at the same time not pay any taxes? Like what's the rationale here?  
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Jul 25, 2018 05:16
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Jul 25, 2018 05:31
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Like that South Park episode except with cat poop and small businesses.
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Jul 25, 2018 05:32
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Dr. Gitmo Moneyson posted:Delaware is one of only six states that has never been featured on Diners, Drive-Ins, & Dives. Makes you think. Man Arkansas has a great dive bar with one of the best burgers I've ever had You know the one I'm talking about. Yes that one. They serve burgers.
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Jul 25, 2018 05:36
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ate all the Oreos posted:Also if you make corporations pay taxes, they'll move everything overseas to No Tax Land and you'll be out of a job! When I worked in manufacturing for a international company this was a real fear for a lot of people. There were a decent amount of people who just kissed rear end like you wouldn't believe in the hopes that if lay offs or relocations happened they would be a part of them. Those guys were the minority though. Also In a big part thanks to the union we had the layoffs never happened. A lot of people had to relocate which sucked for more than a few of them but it was a company very well known for massive lay offs at the end of a project.
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Jul 25, 2018 07:47
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I think my biggest issue with capitalism is that it more a political system now than economic. The idea that if you provide a good service or create/make something well you should get compensated properly for what you do. But now it's literally cut every corner we can legally to save a buck and then lobby with that saved money to make regulations looser so we can save even more!
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Jul 25, 2018 08:06
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Mtthnsly posted:I think my biggest issue with capitalism is that it more a political system now than economic. The idea that if you provide a good service or create/make something well you should get compensated properly for what you do. But now it's literally cut every corner we can legally to save a buck and then lobby with that saved money to make regulations looser so we can save even more! influencing politics to further your economic interests is not new. after exploiting the rest of the world and giving a poo poo about the repercussions, corporations have grown in size to the point where they can do this at home, and get away with it. e: do this at home, again mike12345 has issued a correction as of 08:49 on Jul 25, 2018 |
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Jul 25, 2018 08:28
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Mtthnsly posted:I think my biggest issue with capitalism is that it more a political system now than economic. The idea that if you provide a good service or create/make something well you should get compensated properly for what you do. But now it's literally cut every corner we can legally to save a buck and then lobby with that saved money to make regulations looser so we can save even more! convincing you that politics and the economic system are different is part of the propaganda
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Jul 25, 2018 08:43
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comedyblissoption posted:capitalism has always been extremely political Of course it is, has, and will be. The idea that you just have to work hard enough and you'll be a Although if you have no morals then yeah you can make enough money to live quite well.
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Jul 25, 2018 09:05
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Jul 25, 2018 12:29
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Neutrino posted:The funny thing is that he's kinda right. Most public libraries in the US began as donations to communities by mega-capitalist, Andrew Carnegie. He is advocating replacing a publicly good with a private one, how are these even remotely the same? He isn't advocating Amazon replace libraries with free amazon bookstores.
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Jul 25, 2018 12:46
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Mtthnsly posted:I think my biggest issue with capitalism is that it more a political system now than economic. The idea that if you provide a good service or create/make something well you should get compensated properly for what you do. But now it's literally cut every corner we can legally to save a buck and then lobby with that saved money to make regulations looser so we can save even more! There is no hard distinction between economics and politics. The study of economics used to be called "political economy" for a reason, that is before all the soothsaying money priests with their fraudulent mathematics got involved.
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Jul 25, 2018 12:50
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Darth Walrus posted:https://twitter.com/darrengrimes_/status/1022066434355212288?s=21
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Jul 25, 2018 13:48
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Jul 25, 2018 14:23
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Where’s the KY brand shoe
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Jul 25, 2018 14:30
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Now I legit wanna brand my shoes with Stubbs. 
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Jul 25, 2018 14:34
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same, but Cholula
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Jul 25, 2018 14:43
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Fleetwood Crack posted:Now I legit wanna brand my shoes with Stubbs. 
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Jul 25, 2018 14:51
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Jul 25, 2018 15:04
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Hulk Hogan Meat Shoes are almost a thing now
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Jul 25, 2018 15:07
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Jul 25, 2018 15:23
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https://twitter.com/internetofshit/status/999619364541394944
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Jul 25, 2018 15:58
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