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> the rich and powerful quite often are gifted loopholes for the profits to not be taxable. Those loopholes aren't free and their nature is typically temporary
by foverzar 4y ago
> the rich and powerful quite often are gifted loopholes for the profits to not be taxable.
Those loopholes aren't free and their nature is typically temporary. One example would be tax cuts in exchange for committing to provide N jobs.
- surgical_fire 4y agoNothing is more permanent then temporary loopholes. They exist only for long enough time until the next loophole is put in place. > One example would be tax cuts in exchange for committing to provide N jobs. Gotta love this one. Trickle down economics at its best. "Thanks for going through the trouble of getting richer by expanding your business. Here's some extra tax exemptions for your sacrifice. The silly peasants will pay taxes in your stead".
- greyface- 4y agoOne counterexample would be Peter Thiel's Roth IRA.
- JoeJonathan 4y agoThey’re not free, but they’re cheaper than taxes.
- plagiarist 4y agoThey get a tax cut and commit to paying N people less than the value they create for their companies, what's the cost? You must have accidentally erased that part while editing.
- kwhitefoot 4y ago> tax cuts in exchange for committing to provide N jobs. Does this ever work? That is does it work better than not giving tax cuts in the long run. Committing costs very little, especially if the tax advantages are not clawed back if the jobs fail to materialise. How does one really measure the number of jobs created by the tax cut versus those that might well have been created even if there were no tax cut.