Why You Pay Taxes and Amazon Does Not
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- Опубліковано 21 вер 2022
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Perhaps you've seen this type of news. While you are giving away a part of your income through taxes, the biggest U.S. and global corporations are not. And if they are, these taxes are so small that they are basically a joke.
This is an explanation of what, why and how this happened - the untold story of how U.S. corporations stopped paying taxes.
Make "Dark side of the american Miracle"
This
*Yawn* 🥱
he only talks bad about asia and europe
@@uvaglobo I didn't know California was on Europe
@@jcanal0221 yes i figured hes republican
They're filling their bags at everyones cost. How people aren't revolting is mind blowing.
People are too dumb and unwilling to learn and they're paying the price for their ignorance
@@ramazondavlatov2324
I'm looking for more Conspiracies to research.... because all the ones I've been talking about have come true.
20 years is all it took to lose the support of most my friends and a good portion of my family.
Watched the 7 o'clock news tonight for the first time in a while... pretty much the most sadistic thing I've ever seen on commercial t.v.
Can anyone recommend a good cat video? I think I've seen most of them!
@@ramazondavlatov2324 I think the main reason is because the whole system still kind of works so nobody cares to fix it
Not really. If they're not even aware of it, how can they?
The average person doesn't have a clue what's going on. They can't name their representative, half of them or more probably don't know the names of their senators. Or how power and lobbying works.
Corruption. Hire more IRS and at least get the legal amount they owe. Then hire a lobby to find loopholes.
I don't know how the heck yt recommended me a video from this channel but I'm glad it did. I'm a chemistry student, not particularly interested in economy or history, but I must admit that whatever Dom sets out to explain he does so in a way that doesn't feel boring and is easy to understand. On the other hand, I'm not a native English speaker so I usually have to rely on the automatically generated subtitles (in English), which are usually quite accurate thanks to the way Dom expresses himself. I usually don't comment on any video but today I wanted to thank you for your work man, and whatever you plan to bring to the channel believe me I'll be on the other side of the screen supporting 👍
PS: my fav videos are the dark sides of the Korean and Japanese miracles
On the stock options thing it is important to note that while paying executives big stock option packages reduces the tax bill for the company overall, it also diluted the other shareholders by more than the benefit of the tax shield. So it’s a cheaper form of compensation but it’s not “profitable” from a shareholders perspective. And the board has to approve the package so what the shareholders want really does matter. Ultimately the comp packages are so big because the shareholders really want to retain those executives.
I think you are severely overestimating how much effective power shareholders have over the workings of a corporation. More likely from the POV of the executives stock option compensation is a win win since they can use it to deduct tax while also giving themselves great compensation without even dipping into the revenue that the company made, all at the expense of the shareholders.
I’ve seen companies offshore their entire IT department to India
Ah yes. The old "they cost a lot here so let's pay less somewhere else" maneuver. Classic!
I wish they would make this illegal
That's why I'm for the fair tax act.
The US is a corporatocracy. How run the US government are corporations.
Really liking the channel wish these videos were picked up more
Arguably, the best of your series but appreciated the least
Well done Sir
Hello, would it be possible to have the titles of the music you're playing during the video ?
Best channel. Thank you for amazing videos.
So little views?? Thats so sad! I hope this video pops, gret content
Yeah, almost no views compared to his others videos, strange!
Cough cough cayman islands cough
Great video, fantastic channel, keep it up!
Your forgot a few things... Like how there was no Federal income tax at all until around 1913... Or how in 1940 the corporate tax rate was 20%... Or, about how the worldwide average statutory corporate income tax rate, measured across 180 jurisdictions, is 23 percent; when weighted by GDP, the average statutory rate is 25 percent.
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Not to mention, individuals still have to pay tax on stock options (when varies based on elections of the individual, but capital gain rates for most of these people will be at least 20%).
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Also, corporations still pay tax on foreign passive income (interest, dividends, rents, and royalties) on a current basis, meaning it does not get the benefit of deferral. This is to prevent companies from putting highly mobile financial assets abroad to indefinitely avoid U.S. tax liability on the income. And, your claim that corporations can just do some accounting entries to move income to a foreign subsidiary is completely false as any such accounting would constitute tax evasion!
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Furthermore, the TCJA introduced a minimum tax on multinationals’ foreign income through the Global Intangible Low-Taxed Income (GILTI) regime. Taxes on GILTI are determined on an aggregate basis, based on a taxpayer’s consolidated global operations. Income from profitable foreign affiliates can be offset by losses from other affiliates, and tax credits from high-tax affiliates can be used to offset liability arising from low-tax affiliates. So, corporate tax on foreign profits is no longer about repatriation of cash from those foreign subsidiaries!
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I won't even go into payroll taxes, real-estate and business personal property taxes, franchise taxes, sales taxes, etc... Ya know, the taxes everyone omits when talking about how corporations don't pay their fair share! Speaking of which, what is a corporations fair share of our Federal expenditures? Seems to me the government never seems to spend less, but rather just asks for more from corporations and individuals without every discontinuing inefficient and/or wasteful government programs!
Interesting but not to the point. This vid was about "legalized" corporate tax avoidance.
Teşekkürler.
Congrats on the sponsor
A great man once said, "tax evasion is not a crime, it's an obligation"
Given how wasteful and corrupt government are.
@Shaun Cameron put it simply: "Game was rigged from the start"
great video
Excellent video, as always. Question: Is this model profitable for the U.S. economy? If it were inherently bad I imagine that something would've been done about it
Good for the rich and the politicians, bad for the everyday working people
@@ESC_jackqulen how?
@@sa34w rewatch the video, rich make money using money while avoiding taxes, poor work for money with their backs and pay taxes
The US is not the only country in the world. Others are affected by it too.
I like you Chanel ☺️
Banks could just deduct 30% every time money leaves a business account (except into another business account). Abolish all other taxes.
They could run the country without the people paying taxes before the IRS came along...
I don't know why individuals pay taxes at all. Businesses hold the money. Where do individuals get their incomes?
Ummm. From salaries? From everything you consume or buy, the price you pay automatically has a percentage of that and is paid as tax if you get a receipt (aka VAT: value added tax)
Is there an easy way to fact check these? He is definitely wrong when he says companies can take a tax deduction for stock options that do not get included in CEO taxable income. No employee income = no business deduction. It makes me wonder if he takes liberties with other things
#ToxicCapitalism #GreedyCapitalists #CorporateGreed
Tnx 🤡🙏💀
What you want them to pay all profits in taxes who the hell will provide jobs ?
Tell me you’re ignorant without telling me
Here's a 1 word answer: Republicans
Amazon is run by Democrats.
So true!