21–30 of 384 posts
I have never understood the whole "tax the rich" idea and I am not rich, don't own a house or car or stocks or anything expensive. When and how will the taxes help you and me? The money just ends up going to a black hole for the government to spent inefficiently. And if you are in the US, the money gets spent on funding the military industrial complex for bombing more countries, regime changes, intelligence agencies,…
Earlier quoted context omitted.
Governments want to tax profits rather than revenues. A tax on revenues would kill a lot of high growth businesses.
And yet they tax individuals on our revenues and not our profits …
Earlier quoted context omitted.
Governments want to tax profits rather than revenues. A tax on revenues would kill a lot of high growth businesses.
And yet they tax individuals on our revenues and not our profits …
As an example in Canada one newly recognized tax exemption for 2020 was a 400$ flat tax deduction for remote working.
You can argue that more tax burden should be shifted initially to corporations but I think that expenses and taxes have aligned in a way that makes a predominantly revenue based individual tax fair - corporations could also easily carry revenue based taxes, some low margin business would become infeasible but every economic policy shifts that line in some manner.
Ireland is about to discover how unattractive it is as a locale for multinational HQs when the playing field is somewhat more level. And I'm in favor of the move as a middle class US taxpayer and a small business owner who pays through the nose, but this is a quite obvious self-own in the long run for them, much for the same reason why introducing a wealth tax was a self-own for France. Big Money is mobile, sophistic…
I just saw 100 new $740m shell companies lol
Earlier quoted context omitted.
Governments want to tax profits rather than revenues. A tax on revenues would kill a lot of high growth businesses.
And yet they tax individuals on our revenues and not our profits …
I've always been baffled as to how this is seen as a multi-national issue. The US could always implement unilateral minimum VAT and profit[3] taxes on corporations forcing them to effectively pay whatever proportion the US demands to continue doing business in the world's largest consumer market. Just because you're only paying 3%[1] profit[3] tax in Bermuda doesn't mean you can necessarily skate around the remaining…
Governments want to tax profits rather than revenues. A tax on revenues would kill a lot of high growth businesses.
A tax on revenues would also kill a great many low profit businesses
Oil and gas extraction: -7.6%
Support activities for mining: 0.6%
Beverage manufacturing: 0.8%
Grocery and related product merchant wholesalers: 1.9%
Lawn and garden equipment and supplies stores: 2.0%
Miscellaneous durable goods merchant wholesalers: 2.3%
Petroleum and petroleum products merchant wholesalers: 2.4%
Grocery stores: 2.5%
Automobile dealers: 3.2%
Building material and supplies dealers: 3.2%
Continuing care retirement communities and assisted living facilities for the elderly: 3.3%
Other motor vehicle dealers: 3.3%
Home furnishings stores: 3.3%
Furniture stores: 3.4%
Beer, wine, and liquor stores: 3.4%
Ireland is about to discover how unattractive it is as a locale for multinational HQs when the playing field is somewhat more level. And I'm in favor of the move as a middle class US taxpayer and a small business owner who pays through the nose, but this is a quite obvious self-own in the long run for them, much for the same reason why introducing a wealth tax was a self-own for France. Big Money is mobile, sophistic…
Sure - but it's the process of making the world a better place. The more these tax havens get shut down the fewer (and riskier) places that corporations have to shelter their revenue.
I've always been baffled as to how this is seen as a multi-national issue. The US could always implement unilateral minimum VAT and profit[3] taxes on corporations forcing them to effectively pay whatever proportion the US demands to continue doing business in the world's largest consumer market. Just because you're only paying 3%[1] profit[3] tax in Bermuda doesn't mean you can necessarily skate around the remaining…