Man, that’s such a weak argument. It’s like two people waking side by side on the sidewalk pushing you out of the way and giving that semi-apologetic, “sorry bro I just can’t do anything here!” look. Saying how they wish they could pay more taxes but “just can’t because reasons!” while at the same time taking about how awesomely responsible they are rings hollow to me.
Full agreement here.
Don’t get me wrong, I totally grok and largely agree with what you’re saying. I’m not trying to call you out here.
Fuck knows. It reads as a fairly standard 'Libertarian wants an argument ’ post TBH. The content is fluid enough to be interpreted many ways. Are you going to start banging on about pensions again?
You guys are a tough crowd. One mustn’t answer a caricaturish whine about being “starved for taxes” and lying about “no taxes at all”, with a wee bit of exaggeration. This is the type of discourse that our gracious host models and nurtures.
And it is barely an exaggeration. Your entitlement to other people’s money drips through almost every message. “You’ll get our money … when we get yours”. Come on.
In principle, yes you can. In practice … not so much.
La majestueuse égalité des lois, qui interdit au riche comme au pauvre de coucher sous les ponts, de mendier dans les rues et de voler du pain.
In its majestic equality, the law forbids rich and poor alike to sleep under bridges, beg in the streets and steal loaves of bread. Anatole France, The Red Lily (1894), ch. 7
Reducing profits and tax the through transfer pricing is not the same as money laundering. Not even close. And it is illegal in most jurisdictions. Debt loading or thin capitalisation is not the same as loan sharking. Not even close. And most jurisdictions have controls in place to limit it. The video is overly simplistic.
A pertinent question is perhaps why companies should pay corporate tax at all. Why not have the shareholders/owners pay the tax on the dividends and capital gains? Why not push more tax down to consumption taxes like VAT that are harder to avoid?
Part of the reason why the US corporate tax is so high, is to avoid double taxation on dividends (17.5% corporate then 17.5% dividend tax, but it actually ends up being more expensive if my calculations are correct). Capital gains are still taxed though.
Yeah, but a witholding tax can be levied on repatriated dividends or proceeds that is either credited elsewhere, or refundable on payment of equivalent tax in the shareholder’s jurisdiction. It’s complex, but simple tax systems are the most easily circumvented.
Part of the reason why the video oversimplifies is because the current reality of the tax situation is already fairly complicated for the lay-man to understand. The more lawyered up laws become, the more they can guard against loopholes, but the less well understood by the public that the laws are supposed to protect and serve. Thus balance is necessary.
The United States has provided me with 43 years of physical safety. I haven’t been kidnapped for ransom or sold into slavery a single time. Not only that, but I’ve also gotten to eat, and live in a building. Bandits have never burned down my house, and invading forces have never blown up my family.
In exchange for this historically-unprecedented bounty, I would say that my nation, state, and society are entitled to 100% of my economic output. That they demand considerably less is the kind of good luck that would make my ancestors weep with jealousy.
It’s plausible that fewer people would be angry if this revenue were applied to rebuilding this country rather than ones we’d already spent billions of taxpayer dollars decimating. I understand that the 1% would like to recoup some of these costs, but they’re doing so to the detriment of the already dwindling middle-class.
Yes, the simplification is necessary, but he uses unnecessary false analogies to make the tax avoidance sound even more egregious than it is. Your pension fund that benefits as Apple shareholders isn’t as upset about reduction in corporate tax as this guy seems to be. Look, the system basically stinks and serves only the rich, but misrepresentation is not likely to help.
