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Counterargument: At the end of the day, the ones reaping corporate profits are themselves people, who should be paying their income taxes, no?
by kick_in_the_dor 2y ago
Counterargument: At the end of the day, the ones reaping corporate profits are themselves people, who should be paying their income taxes, no?
- exe34 2y agoand do they? if your money is in a tax haven, you don't pay income tax there. if your ghost company from the tax haven buys a private jet, you don't pay any tax on it. if you then rent it from yourself, you can call it a business expense, and deduct it from your company's profits. if you get a loan from yourself in the tax haven, that's also tax free. where does the paying income tax come in? rich people are always, legally speaking, on the brink of bankruptcy, and can't afford to pay tax.
- ffgjgf1 2y agoOr you can just move to a country with no/extremely low income taxes (well at least if you aren’t an US citizen..)
- exe34 2y ago"non-domiciled for tax purposes" as some people call it.
- balderdash 2y agoAs a us citizen that only works if you’re willing to risk a jail term
- exe34 2y agoor you can afford the lawyers to set up the shell companies that own the shell companies that own your wealth on your behalf.
- balderdash 2y agoAgain, if you’re willing to risk a jail term