4 ms·

What are we supposed to take away from a high the high profit? How much did visa pay in taxes? Less than a single 140k family? Why are we comparing corporate t

What are we supposed to take away from a high the high profit? How much did visa pay in taxes? Less than a single 140k family? Why are we comparing corporate taxes and individual taxes? They are completely different.

NetOpWibby 2y ago
Why do families pay less taxes than corporations? I'm not a money guy or a lawyer but that seems extremely *off*.
- s1artibartfast 2y ago
  Because corporations pass profits on to individuals who also pay income taxes. It is a bogus comparison. Visa might "only" pay 17%, but if you are an owner, you are paying 17% and then another 20% on what's left.
  - NetOpWibby 2y ago
    Ahh, thanks for the clarification! The more I learn about how things actually work, the more irritated I get of the media for playing us.
    - metaphor 2y ago
      For well capitalized and advised players, here's an idea of how things actually work[1][2]. [1] https://www.nber.org/papers/w28542 https://www.nber.org/papers/w28542 [2] https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3089423 https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3089423
      - s1artibartfast 2y ago
        NBER finds 1% of fiscal income is unreported from pass through tax evasion. If anything, this highlights that Individuals should be the relevant level of income tax assessment.
        metaphor 2y ago
        Your arguments come off as incrementally disingenuous and intentionally misleading. That's +1% share of a pie on the order of $TRILLIONS between 2006-2013 to which the top-1% directly benefited from by under-reporting and playing pass-through games...and this was retrospective analysis long before the TCJA corporate tailwind went into effect.
        s1artibartfast 2y ago
        How is it disingenuous and misleading. It is a clear and accurate summary. The bottom line is 1% of income. Im not saying it is zero dollars. Just pointing out that it is 1% for context. 50% of income would be a very different context.
roughly 2y ago
> What are we supposed to take away from a high the high profit? If you’re the sort to buy into conventional economic theory, that VISA faces no effective competition.
- s1artibartfast 2y ago
  I would agree with that, but that does not make it a monopoly. That depends largely on the reasons for lack of competition. e.g Is Visa using its position to freeze out others, or is it government regulation, or customer preference, ect.
metaphor 2y ago
> How much did visa pay in taxes? Less than a single 140k family? No...the proportional equivalent impact of ~150,300 $140k families.
- s1artibartfast 2y ago
  seems remarkable given that visa doesnt send 150,000X children to send to school or collect 150,000X Medicare benefits. I guess this is a way of highlighting the idea that individuals should be fundamental unit of tax assessment, collection, and evaluation. It is humans that receive government benefits, and it is humans that should pay for it. Other methods of analysis run the risk of double counting benefits or payments.

NetOpWibby 2y ago

Why do families pay less taxes than corporations? I'm not a money guy or a lawyer but that seems extremely *off*.

s1artibartfast 2y ago
Because corporations pass profits on to individuals who also pay income taxes. It is a bogus comparison. Visa might "only" pay 17%, but if you are an owner, you are paying 17% and then another 20% on what's left.
- NetOpWibby 2y ago
  Ahh, thanks for the clarification! The more I learn about how things actually work, the more irritated I get of the media for playing us.
  - metaphor 2y ago
    For well capitalized and advised players, here's an idea of how things actually work[1][2]. [1] https://www.nber.org/papers/w28542 https://www.nber.org/papers/w28542 [2] https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3089423 https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3089423
    - s1artibartfast 2y ago
      NBER finds 1% of fiscal income is unreported from pass through tax evasion. If anything, this highlights that Individuals should be the relevant level of income tax assessment.
      - metaphor 2y ago
        Your arguments come off as incrementally disingenuous and intentionally misleading. That's +1% share of a pie on the order of $TRILLIONS between 2006-2013 to which the top-1% directly benefited from by under-reporting and playing pass-through games...and this was retrospective analysis long before the TCJA corporate tailwind went into effect.
        s1artibartfast 2y ago
        How is it disingenuous and misleading. It is a clear and accurate summary. The bottom line is 1% of income. Im not saying it is zero dollars. Just pointing out that it is 1% for context. 50% of income would be a very different context.

roughly 2y ago

> What are we supposed to take away from a high the high profit? If you’re the sort to buy into conventional economic theory, that VISA faces no effective competition.

s1artibartfast 2y ago
I would agree with that, but that does not make it a monopoly. That depends largely on the reasons for lack of competition. e.g Is Visa using its position to freeze out others, or is it government regulation, or customer preference, ect.

metaphor 2y ago

> How much did visa pay in taxes? Less than a single 140k family? No...the proportional equivalent impact of ~150,300 $140k families.

s1artibartfast 2y ago
seems remarkable given that visa doesnt send 150,000X children to send to school or collect 150,000X Medicare benefits. I guess this is a way of highlighting the idea that individuals should be fundamental unit of tax assessment, collection, and evaluation. It is humans that receive government benefits, and it is humans that should pay for it. Other methods of analysis run the risk of double counting benefits or payments.