Many of America’s largest corporations shift a surprising portion of their profits overseas to avoid paying taxes. Even more surprisingly, that’s a legal thing to do.
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Rich folks and corporations have one thing us regular folks dont or cant even afford otherwise we all would be doing it. Really really clever lawyers than know all the loopholes and tricks for what they are hired for. So cant blame them because gaps in laws allow them to keep doing it and they are going to keep doing it to keep their money. Governments like Jersey and Caymans allow it because it benefits them. That's the world we live in.
And yeah, commenting 3 times on one of these videos does not say good things about who I am as a person, but John, if Stephen Colbert made you have his baby, and if that baby is now Steve Mnuchin, why didn't you give the kid your name? Steve Oliver would have been so much closer to normal... if his name wasn't Mnuchin he never would have thought he deserved to be seen in those glasses.
Dear @LastWeekTonight Pls cover the story "student protest in Bangladesh"
Sooo.... With all their terrible costumer service, horrible overpricing and somewhat disastrous product manufacturing, how come you have not yet covered the "about-to-be-if-not-already-trillion -dollar-company" shitstorm of a terrible, inhumane giant that is Apple? And their genius bars. And their repair policies. There is so much wrong with this company(even excepting their tax work), that it is just trés horrible, andt someone really needs to shine a light on the sh*t they get away with.
So corporations migrate their assets from countries where the tax collectors are out to get them. It's weird how open borders and globalization are suddenly bad things. Looks to me like the corporate world is just way ahead on the progressive curve compared to the individual. I'm just glad it doesn't quite work the same way for individuals yet. Imagine all the people of 3rd world countries being able to apply for social services in "western" countries just by moving there "on paper". "Peripheral World Citizen" would sound so much nicer than economic migrant.
my issue is that they are dooming themselves. Like, what good is all that profit in american dollars, when america, burdened with debts it can't repay cause you don't pay t he millions to billions you owe in taxes, collaspses and it's currency is rendered worthless?
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Remember, corporations don’t really pay taxes, no matter what the rate. They pass the cost of taxes along to the consumer in the price of goods. So democrats love corporate taxes because it keeps consumers ignorant of what they are paying. It’s better to tax the consumer directly, that way we can feel the hand of government in our pocket.
funny, you move money and property on paper, from one country to another country, even if it comes back to america....it doesn't mean it will be spent...its still on paper and that means it can be moved without ever using it.
Some have heavy control in government, but I'd challenge you to show any evidence of a significant amount of rich people's money being stolen in the US.
The US isn't only 1% rich. Most of the US is in the global 1%. The talk about "da 1%" is from people who largely don't understand that there will always be a 1%. Wealth isn't zero sum and Michael Moore is a dumbass when it comes to economics. If that's your source for information then you're not well informed at all.
haha, it's not envy, I respect the well earned money, buy mostly the rich is people that have stolen and have heavy control in the government, everything started with Reagan. They give you money in your campaign, you belong to them. Don't lie to yourself. When you live in a country that only 1% is rich, you have to start question everything. If you don't like books, at least watch an Michael moore documentary. Fuck off.
I mean adjusted for taxes and social benefits. So yeah, even by your metric it falls flat. You're just going off of narrative and not data.
When you talk about "purchasing power," what do you mean? How many big macs an average industrial worker buys with their net income? How about adjusted for *good* public education all the way to University which are for the most part free for citizens. Adjust for that, and I'd be born a Swede or German *ANY FUCKING DAY* over American -- well, any day since May 1945, to be sure.
It's not bullshit. Germany, Sweeden and Denmark aren't powerhouses. When you adjust for purchasing power, the incomes in Scandinavian countries matches up to something like those of Mississippi or something like that. You've been spending too much time in the echo chamber and not enough time looking at the data. Besides, the increase in prosperity that has been seen in places like Scandinavian countries started with liberalization of the economy and not with welfare statism.
I love Oliver... but every time I see analyst complain about people finding ways not to give the weasels in Washington their own money, it feels the same as the idiots that try to treat pot smokers as criminals...
6:25 I live there. I'm related to the people who own that hotel. Omg, do you know how seldom it is for me to see my hometown anywhere when I'm not looking for it? (And yes, our taxes are ridiculously low, even by Swiss standards)
So corporations are acting like cancer cells? Because when chemo and surgery and radiation wipe out cancer in one site they tend to find more and more obscure places to hide and eventually recur within the body. Corporations are cancer confirmed.
Even as per Pakistan law, companies/personnel are allowed to have money in offshore companies & accounts. I always wondered why & how is it legal? What benefit does this law has for a common citizen like me? Why aren't these loopholes taped?
And then i see who is funding those election campaigns...
Gotta love America's corporate greed. It's infuriating to me that all of these companies are allowed to essentially steal money directly from our own country and move it overseas. Corporations are supposed to be paying taxes that help support public policy and the infrastructure of this country. Since they don't do that, your government (and us) have to foot the bill. How do we do that? By going trillions of dollars in public debt trying to reinflate the economy because the corporate tax money leaks are draining all of the money from America.
Wrong. Taxation is theft and your nonsense about other countries does absolutely nothing to address that. Besides, not having taxes does not equate to no roads, law enforcement, or military. I'd quite like the condition of not having government. The Brehons did fine without government. Same with Cospaia. Somalia actually improved after it went stateless as opposed to the period before it went stateless. See: Better Off Stateless by Peter Leeson. He gives a breakdown of various metrics of quality of life.
James Adams Taxation is not theft. If you don't believe me, try living in a country with no roads, law enforcement, military, and government. It's often very unpleasant and living conditions are low across the board.
I'm more concerned with how tax $$ are spent than I am about how much tax is being paid/collected. Because until this country (and even our state govs) put together a) a smart budget plan and b) eliminate frivolous spending honestly, what does it matter what is or isn't being collected? And c'mon, we all hate being taxed, we all look forward to our refunds, do you think a company would be any different?
The Double Irish with a Dutch: That's a sambo that served us well in the past. In Ireland we have a tiny population of 5 million. Apple are a huge employer here who have provided many, many jobs through two nasty recessions. Jobs for Jobs back in the day. Thanks Steve. A lot of people, the majority of our centre/right government included, were happy to give those tax breaks, but the EU stepped in and shut that shiz down. Not quite as popular an arrangement on the EU mainland. In fact, I was chatting to a few peeps from Nordic Countries, who are all about the high tax, fair pay socialist model, and they HAAAAAAATED it. Up until now, breaks like this has worked out well for us in the Emerald Isle... We do have a shoddy version of what is universal healthcare and moderate welfare support for the poorest people. College is free for people on very low incomes. However, the working and middle classes are now fiscally squeezed like fresh oj, and the poverty rate is growing year on year, as it seems to be doing across the globe. Perhaps it's time for a double Danish Swede Sammich instead, where everyone gets a liveable wage?
I heard somewhere that our generation takes politicians as a joke and comedians seriously and this guy reminds me of that...though to be fair he certainly does his research and his timing and delivery is brilliant.He makes me actually like Mondays...
Is not the gobernante problem is a people frustration way to live and understand America,,really why at all us want the gobernante support us and not doing nothing,,sit and way if some one have or not,,why???
11:00 The idea of lowering the tax rate in the US for corporations is that the companies will look at the amount of money required to maintain their tax havens (even if they don't pay taxes, they likely pay some form of upkeep cost) and back at the lowered tax rate and think 'it's much more profitable to come back here and just pay this tax rate'.
Whether this works or not, however, is not exactly clear.
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