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> Public companies have a fiduciary responsibility to their shareholders to maximize profits That does not automatically mean taking advantage of tax havens. W
by sumedh 9y ago
> Public companies have a fiduciary responsibility to their shareholders to maximize profits
That does not automatically mean taking advantage of tax havens. Warren Buffett says Berkshire Hathway can save tax using such tax havens but he does not do it because its not the right thing to do.
- mschuster91 9y agoWarren Buffett is Warren Buffett. He's an icon, and Berkshire Hathaway has been making consistent profits over decades. Any enterprise which does not make consistent high profits eventually gets scooped up / controlled by "activist investor" scum which then demands profit extraction to shareholders at any level possible: tax evasion schemes, loading up the company with debt which then gets distributed to shareholders or other financial tricks that only benefits the shareholders, often at expense of the workers and society. The only other exceptions to this rule I know are Amazon, Google and the various companies of Elon Musk - which are exceptions only because of their extremely charismatic and successful leaders.