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> and one that returns money to its american shareowners and employees only This isn’t quite right. Nothing stops British people from becoming shareholders of
by School-Cotton 5y ago
> and one that returns money to its american shareowners and employees only
This isn’t quite right. Nothing stops British people from becoming shareholders of Visa.
I don’t see how the nationality of the company matters. If a private British company were extracting this tax for the benefit of its shareholders, why would the fact that it’s your own countrymen screwing you make you feel any better?
- MagnumOpus 5y agoYour point is correct, but nationality matters (a) because Visa et al. pay taxes in the US and not the UK (b) because most higher-up employees of Visa et al. are based in the US and pay taxes there and not in the UK (c) because the executives are not on-shore, they can sell customer transaction data to US TLAs and anyone else with near-impunity.
- rswail 5y agoVisa as an American corporation is subject to American law. So it's not just a matter of who is making the profit.