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Wow and they still make money despite paying their fair share. Who would have ever thought.
I always find "fair share" to be an odd argument. Who decides what's a fair share?
Nit from the end-note: > On the date of publication, Caleb Naysmith did not have (either directly or indirectly) positions in any of the securities mentioned in this article. Hard to imagine someone who invests would have no indirect positions in BRK. Any broad-market ETF would have substantial exposure.
Earlier quoted context omitted.
I always find "fair share" to be an odd argument. Who decides what's a fair share?
It means they're not exercising loopholes and legal sleight of hand to pay less.
Earlier quoted context omitted.
I always find "fair share" to be an odd argument. Who decides what's a fair share?
Fair means the same playing field, the same rules, the same consistent outcomes from all the corporations subject to these laws and regulations, and not just one of them who does the right thing. Exercizing loopholes is the opposite of fair. It puts those with the best cheating strategies ahead of those who play by the rules. Because you can catch the ref with his back turned doesn't make you a fair player.
What you're describing is tax fraud, and that's different from corporations using legal strategies to mitigate their tax burdens.
The corporate tax system is so complex it seems impossible to actually figure out what that 5% means though. e.g. They could be highly concentrated in industries where tax accounting tricks are too hard to do effectively.
Earlier quoted context omitted.
It means they're not exercising loopholes and legal sleight of hand to pay less.
What counts as a loophole though? IRA, almost by design is a way to shelter your investments from taxes. Is it a loophole to put your investments in an IRA to avoid taxes? What about when Peter Thiel puts his paypal stock in an IRA, and paid no taxes on his paypal exit?
Wow and they still make money despite paying their fair share. Who would have ever thought.
But corporate taxes are on profit, not revenue, so almost by definition any company that "paying their fair share" is "still makes money".