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I'm not from the US, but I don't even understand the basic premise. If these companies avoid paying taxes by not being registered/incorporated in the US, how c
by unwind 7y ago
I'm not from the US, but I don't even understand the basic premise.
If these companies avoid paying taxes by not being registered/incorporated in the US, how could they possibly be eligible for help from the US government?
That just seems like a contradiction, like a huge case of having your cake and eating it.
- iguy 7y agoIt's pretty crazy. They should, of course, feel free to petition the government of Liberia for help.
- jjeaff 7y agoCarnival Cruises is headquartered in Miami. They register their ships in other countries for various reasons. One of which is taxes. But the company itself is based in the US.
- busterarm 7y agoIndeed, there's a bustling maritime law industry in the state of Florida that would die if the cruise industry were to fail or leave.
- bradleyjg 7y agoThe pay no taxes. Carnival Corp and Norwegian both posted negative income tax expenses — that is, they received more in refunds or deductions than they paid or set aside for taxes — with Carnival reporting an income tax expense of $71 million and Norwegian reporting an $18.9 million tax benefit. They don’t contribute to the public fisc in good times, they should have no call on it when times are tough.
- jjeaff 7y agoSo like Amazon? Have they never paid taxes? Because that quote seems to be referring to a single year?
- icebraining 7y agoHeadquartered in Miami, but incorporated in Panama.
- jjeaff 7y agoThat doesn't matter. If you have operations in the US, you have to pay US taxes. Now they may be getting around those taxes, but they have to file.
- icebraining 7y agoYes, they have to file, but it does matter: > In general, under Section 883 of the Internal Revenue Code, certain non-U.S. corporations (such as our North American cruise ship businesses) are not subject to U.S. federal income tax or branch profits tax on U.S. source income derived from, or incidental to, the international operation of a ship or ships From https://www.carnivalcorp.com/financial-information/annual-reporting https://www.carnivalcorp.com/financial-information/annual-re...
- Cthulhu_ 7y agoThey'll likely get it because they can pay politicians to vote in favor, or said politicians own a stake in those companies - probably indirectly to avoid an apparent conflict of interest, but who will find out? Actually they did, see Panama Papers. So many higher-ups turned out to have a lot of money stashed away abroad. Politicians are corrupt. I mean take Trump; while he 'officially' renounced control / ownership of his properties (I think?), he's still pumping hundreds of (tax payer) millions into his own resorts by going golfing every week in his own resorts. Said taxpayers are the common folk as well, not the actual resort itself.
- computerphage 7y agoThe problem with statements like "politicians are corrupt" is that it makes it possible for people to see what Trump is doing as just more of the status quo. It needs to be possible for some politicians to not be corrupt in order for the allegation of corruption towards Trump to carry any meaning.
- TomMarius 7y agoMaybe politicians shouldn't have as much power?
- etrautmann 7y agoI am from the US and the premise is ridiculous to even consider. The cruise industry in no way should be prioritized or considered essential.