| ▲ | loeg 4 hours ago | |||||||||||||||||||||||||||||||||||||
You can't just throw revenue in the denominator, though. Business tax is assessed on income. If you're going to make a claim about tax rate using an unconventional metric, you need to be explicit about what you've done; Reich isn't. | ||||||||||||||||||||||||||||||||||||||
| ▲ | gojomo 4 hours ago | parent | next [-] | |||||||||||||||||||||||||||||||||||||
If you're Robert Reich, you can! You can make up anything, and someone will submit it to HN to waste everyone's time! | ||||||||||||||||||||||||||||||||||||||
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| ▲ | TrainedMonkey 2 hours ago | parent | prev | next [-] | |||||||||||||||||||||||||||||||||||||
Sure, and there are a ton of ways to shifting income around. For example selling a subsidiary in lower tax jurisdiction patents and then paying for their usage. Another example is Hollywood accounting where productions pay exorbitant rates for equipment and catering to affiliated companies. This inflates the costs so the movies end up unprofitable despite smashing box office. | ||||||||||||||||||||||||||||||||||||||
| ▲ | quietbritishjim 3 hours ago | parent | prev | next [-] | |||||||||||||||||||||||||||||||||||||
> Business tax is assessed on income. Income (in a business) is another word for revenue. I think you meant: business tax is assessed on profit. | ||||||||||||||||||||||||||||||||||||||
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| ▲ | shevis 3 hours ago | parent | prev [-] | |||||||||||||||||||||||||||||||||||||
Income != profit. Income is revenue. It sure would be nice if businesses were taxed on income, given that’s how people are taxed and all. Aren’t corporations supposedly people now thanks to citizens united? | ||||||||||||||||||||||||||||||||||||||
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