Facebook tax court trial begins over Ireland offshore deal

Post by hcknwscommenter » Wed, Feb 19, 2020, 5:46 AM UTC

seibelj wrote: post #21

coral-snake wrote: post #16

Earlier quoted context omitted.

How would you avoid companies-as-expense accounts? If I form "Coral-Snake & Co.", wouldn't I be able to pay 0% taxes by just directing all income/expenses into that shell? (Granted, I don't understand basically anything about tax law, so maybe this is already a well-defined problem with a well-defined solution.)

This is already doable with a multitude of ways. If I have profits, and I direct them to a business, then argue plausibly that my life expenses (lunches, travel, cars, computers) are for my business, I can write off all those expenses against my profits. Business owners do this all the time.

Post by hcknwscommenter » Wed, Feb 19, 2020, 5:48 AM UTC

wolco wrote: post #28

BurningFrog wrote: post #17

Earlier quoted context omitted.

You can make a good argument* that taxing corporations is weird anyway, since they're abstract legal concepts. Taxing the income real people get paid from the corporation would be the logical, and much simpler system. * You can of course also make a decent argument against this :)

Then you get companies leasing jets, houses, etc for employees uses instead of pay.

Post by greglindahl » Wed, Feb 19, 2020, 5:50 AM UTC

devmunchies wrote: post #18

seibelj wrote: post #4

I truly wish that the corporate tax rate was 0. Not 25, not 15, but 0%. Then all of this ridiculous nonsense around crony capitalists lobbying for special tax breaks, “double Dutch Irish sandwiches”, and the insane discrepancies between big business and small business in regards to tax games would all go away. Just increase capital gains to match income tax and be done with all of this bullshit. Amazon pays an effect…

Just capture it all as sales tax when the money is coming and and income tax when it being distributed to employees. get rid of corporate tax for ANY business, small or large.

Post by manigandham » Wed, Feb 19, 2020, 5:52 AM UTC

m_eiman wrote: post #30

seibelj wrote: post #4

I truly wish that the corporate tax rate was 0. Not 25, not 15, but 0%. Then all of this ridiculous nonsense around crony capitalists lobbying for special tax breaks, “double Dutch Irish sandwiches”, and the insane discrepancies between big business and small business in regards to tax games would all go away. Just increase capital gains to match income tax and be done with all of this bullshit. Amazon pays an effect…

There should also be no speed limits, since some people drive too fast anyway. And murder should also be legal, since some people murder anyway. Let’s just remove all laws, since they’ve all been broken at some time.

Post by seibelj » Wed, Feb 19, 2020, 5:53 AM UTC

greglindahl wrote: post #35

seibelj wrote: post #15

Earlier quoted context omitted.

Many of my comments do poorly on HN, but I’ll keep writing them because alternative opinions to the hive mind are valuable. I may even convince a few people!

You might want to try leaving better comments? The one at the top doesn't really make any sense. If you left one that did convince people, it would probably get upvoted.