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The Republican Utopia


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7 minutes ago, Archy1221 said:

Why does Filidorski put DeSantis in the picture of a story that has nothing to do with him?  

 

Oh, we all know why....

1 hour ago, BigRedBuster said:

:laughpound

 

Oh...but drag queens and books are hurting our kids.

 

I didn't see anything about drag queens, books or kids? 

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Just so we can keep our eye on the ball here's one without Desantis in it.  Morals for thee but not for we I guess 

 

"wife, Bridget Ziegler, is the co-founder of Moms For Liberty, an organization that treats LGBTQ people, especially Trans people, like they are sexual predators.

They were in a bisexual threesome relationship and the husband is accused of sexually predator behavior." 

 

 

 

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4 minutes ago, BigRedBuster said:

And, those people who drive Teslas aren't paying gas tax that funds road construction and maintenance that they use.

 

 

The gas tax is something that needs rectified for electric vehicles for sure.   

Corporations should pay income taxes on any profits they make.

 

 

In terms of subsidies, how much in government money has Tesla received over the years?   
 

Now take a look at how much in Government money has the Detroit Three received over the years? 

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11 minutes ago, BigRedBuster said:

And, those people who drive Teslas aren't paying gas tax that funds road construction and maintenance that they use.

 

 

BTW…on the tax thing, it’s not a Tesla thing it’s a Us tax loophole thing in 2 different ways so I’m not sure why this Anders guy doesn’t say that.   And it’s a loophole that Congress should look into to fix if possible on the booking of overseas profits.  The past losses write off I’m fine with.  
 

https://amp.cnn.com/cnn/2022/02/10/investing/elon-musk-tesla-zero-tax-bill/index.html

 

"That defies common sense, but it does not defy the US tax code," said Martin Sullivan, chief economist for Tax Analysts, a nonprofit tax publisher, and an expert on US corporate tax practices.

 

Moving profits overseas — on paper

 

Sullivan said he believes the $130 million loss on its US operations is most likely due to a common practice for US multinational corporations: structuring their operations so that overseas subsidiaries are the ones reporting income, leaving the US operation to have little or no taxable income to report. 

For example, a company can assign its intellectual property to one of those foreign entities, and charge its US unit a fee for using that property. And thus, the foreign operation is very profitable, while the US company — burdened with "costs" to the company itself — reports either a loss or very little income.

"It's a US multinational thing. It's very common. It's almost malpractice not to do that," said Sullivan.

A recent report from the US Department of the Treasury found 61% of the international profits of US multinational companies are booked in seven small countries -- Bermuda, the Caymans, Ireland, Luxembourg, the Netherlands, Singapore and Switzerland -- known as tax havens. It's a practice that many elected officials and the Biden administration have vowed to crack down on.

 


Considering the substantial financial help that Teslahas long received from government support for its electric cars, the company doesn't have to use a shell game of offshoring its profits to avoid paying taxes. Instead, it could use past losses to shelter its current income from any tax bill.

 

ech companies that lose money for years before turning a profit — such as Amazon (AMZN) — have used this technique. So have old line companies that have financial problems, such as all US airlines, which will probably not have to pay taxes for years to come after recording billions of dollars in losses during the pandemic — despite receiving billions in federal help. 

Similarly, Tesla's US automaking competitors lost so much money in the first decade of this century that General Motors (GM) and Chrysler needed government bailouts. Despite those bailouts, neither company paid taxes for several years once they were again profitable

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4 minutes ago, Archy1221 said:

BTW…on the tax thing, it’s not a Tesla thing it’s a Us tax loophole thing in 2 different ways so I’m not sure why this Anders guy doesn’t say that.   And it’s a loophole that Congress should look into to fix if possible on the booking of overseas profits.  The past losses write off I’m fine with.  
 

https://amp.cnn.com/cnn/2022/02/10/investing/elon-musk-tesla-zero-tax-bill/index.html

 

"That defies common sense, but it does not defy the US tax code," said Martin Sullivan, chief economist for Tax Analysts, a nonprofit tax publisher, and an expert on US corporate tax practices.

 

Moving profits overseas — on paper

 

Sullivan said he believes the $130 million loss on its US operations is most likely due to a common practice for US multinational corporations: structuring their operations so that overseas subsidiaries are the ones reporting income, leaving the US operation to have little or no taxable income to report. 

For example, a company can assign its intellectual property to one of those foreign entities, and charge its US unit a fee for using that property. And thus, the foreign operation is very profitable, while the US company — burdened with "costs" to the company itself — reports either a loss or very little income.

"It's a US multinational thing. It's very common. It's almost malpractice not to do that," said Sullivan.

A recent report from the US Department of the Treasury found 61% of the international profits of US multinational companies are booked in seven small countries -- Bermuda, the Caymans, Ireland, Luxembourg, the Netherlands, Singapore and Switzerland -- known as tax havens. It's a practice that many elected officials and the Biden administration have vowed to crack down on.

 


Considering the substantial financial help that Teslahas long received from government support for its electric cars, the company doesn't have to use a shell game of offshoring its profits to avoid paying taxes. Instead, it could use past losses to shelter its current income from any tax bill.

 

ech companies that lose money for years before turning a profit — such as Amazon (AMZN) — have used this technique. So have old line companies that have financial problems, such as all US airlines, which will probably not have to pay taxes for years to come after recording billions of dollars in losses during the pandemic — despite receiving billions in federal help. 

Similarly, Tesla's US automaking competitors lost so much money in the first decade of this century that General Motors (GM) and Chrysler needed government bailouts. Despite those bailouts, neither company paid taxes for several years once they were again profitable

I have no problem with this person using Tesla as an example of why congress should fix this.

 

 

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