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Damn, people who pay into their 401Ks are fucking evil.

• kristopolous 1y ago
  https://itep.org/55-profitable-corporations-zero-corporate-tax/ https://itep.org/55-profitable-corporations-zero-corporate-t... Some examples: > Food conglomerate Archer Daniels Midland enjoyed $438 million of U.S. pretax income last year and received a federal tax rebate of $164 million. > The delivery giant FedEx zeroed out its federal income tax on $1.2 billion of U.S. pretax income in 2020 and received a rebate of $230 million. > The shoe manufacturer Nike didn’t pay a dime of federal income tax on almost $2.9 billion of U.S. pretax income last year, instead enjoying a $109 million tax rebate. If you think this is the same as someone putting $7k into a 401k then you are acting in bad faith and we have nothing productive to discuss.
  • tekla 1y ago
    How is it a loophole when it was literally legally allowed, not even as a slight of hand.
    • robinson7d 1y ago
      Loopholes are by definition legally allowed.
    • shermantanktop 1y ago
      Some loopholes are an accident. Some are intentionally put in place by parties interested in traveling through the loophole, benefiting from doing that, and then claiming they would be stupid not to do so. Those cases are different, even though the legal status of them may be the same.