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The public has a right to know how companies that pay no taxes pull it off

larrysummers.com

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Re: The public has a right to know how companies that pay no taxes pull it off

#421

Post by harry8 »

mhaymo wrote: post #416
harry8 wrote: post #398

Earlier quoted context omitted.

This is actually incorrect. Investment is not tax deductable. Invest all your salary in an S&P500 index fund as a tax deduction? Business expenses are tax deductable. Investment is not. Yes I'm completely aware that this is one of Amazon's stated defences for tax dodging. Tax dodging is their core competency. I hate that.

No you're incorrect, and drawing a false distinction between spending company money on growth instead of profits, and other business expenses. There is no distinction for tax purposes, nor should there be.

If you buy assets you can claim the depreciation on them as a tax deductable expense.

If investment was tax deductable no company would pay tax ever. Simply invest all profits in an s&p500 index fund and pay no tax.

There is a distinction between business expenses and investment. There is one for tax purposes. It is abused roundly in tax dodges.

This conversations will now go nowhere. If you care about understanding it you've got some research to do to convince yourself, I will be unable to do so.

Re: The public has a right to know how companies that pay no taxes pull it off

#422

Post by robertlagrant »

29athrowaway wrote: post #389
robertlagrant wrote: post #136

Earlier quoted context omitted.

That's not taxing us, that's just them (or businesses they, or non-rich people, run) getting some tax relief. They will still be either paying more tax or employing more people or investing in more companies that employ people than I do, that's for sure.

They make us pay for their convenience. For example, Walmart pays minimum wage and asks employees to use Medicaid while their leadership gets enormously rich.

If you spread that wealth (the non-stocks and shares kind, actual money) per-employee, you will not get very much money. That's why this sort of statement is silly.

Re: The public has a right to know how companies that pay no taxes pull it off

#423

Post by wiz21c »

refurb wrote: post #337
gnicholas wrote: post #79

Earlier quoted context omitted.

I do have opinions about various tax provisions that I know well. But the topics I mentioned in my prior comment were not about a specific tax provision, or even tax policy generally. I was just stating the facts of life. It will always be the case that big companies will find it efficient to engage in certain revenue-producing activities that smaller companies/individuals will not. Just as I don't have feelings abou…

Lobbying is a bit different. Like most folks, the idea of 'lobbying' strikes me as wasteful/corrupt. Are people aware what everyday lobbying is in it's most basic form? It's companies engaging their elected representatives on policy issues relevant to them. So when the Obamacare bill was being written, the AMA (representing physicians) lobbied Congress to make sure their views were heard. Completely legitimate. Anoth…

yeah sure. But like everything, there's a point at which it makes people nervous. Eating sugar up to the point it's too much.
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