Ignorantium
More reactive than flourine. Funnier than boron.
Why I’m loopy about loopholes
Categories: Google+ Posts

If you’re wondering, this is the post that spurred my previous “loophole” post.

Here’s my comment on the post:

Economic reality #1: Corporations don’t pay taxes; people do.

Starbucks pays more in taxes which means there’s more money going to the government and less money for salaries or less profit for shareholders. (Don’t think that’s a bunch of rich people either. The link below is to major shareholders in SBUX. They’re all mutual funds owned by people like you and me in their 401Ks.)

Less money to employees and shareholders means less income for those people to pay taxes on. One side goes up; the other side goes down. The companies pay more so we all make less.

But hey, we all feel better because we stuck it to Starbucks.

Until we all learn economic reality #1 we’ll all be happy with empty gestures that make us all poorer as employees and investors.

_http://investors.morningstar.com/ownership/shareholders-major.html?t=SBUX&region=USA&culture=en-us_
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Reshared post from +Mike Elgan

Should corporations pay more in taxes than legally required?

Starbucks says it will pay more taxes in the UK than required due to public pressure.

A company spokesman said the company will voluntarily not take advantage of specific deductions that UK law allows it to do.

Is this how it should work? Should corporations voluntarily pay more tax than required by law?

http://money.cnn.com/2012/12/06/news/companies/starbucks-uk-taxes/index.html

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