Financially Illiterate William Rice is having a hard time understanding how “For Profit” corporations work. Yeh, guess what, its FOR PROFIT, they will spend the money on themselves, derp.
Wow! And in other news, water flows.
Sun does shine at night
Never taken a business class, eh?
What are these ‘national needs’ that require you to steal from the stockholders?
Couldn’t tell 🙄
Another example of a writer who doesn’t understand how the tax code works and how corporate governance works.
1) Corporations don’t pay taxes. Any effort to make corporations pay higher taxes comes at the expense of consumers in the form of higher prices, the employees in the form of lower wages or in the stockholders in the form of lower dividends.
2) Corporations don’t get refunds. They are allowed to carry losses forward to offset profits in the future but Uncle Sam doesn’t write ABC Corp a check if they lose money.
3) Corporate C Suite and CEOs are highly valued members of the corporate team charged with the responsibility to A) manage 100s or thousands of employees (for instance Amazon has 1.5 million people) B) oversees $Billions in assets, liabilities and revenue, and C) sets the strategic path for the business. Good ones are hard to come by, have 30+ years of experience and are compensated accordingly.
4) Corporations have a fiduciary responsibility to the stockholder to maximize the value of the company NOT to address “National Needs” If the business is successful, national needs are met by the taxes the corporation pays in payroll taxes, property taxes, workers comp and unemployment taxes. employee benefits and in the payroll they contribute to their local community.
It’s always so frustrating to see these titles when most of Americans’ lived experiences have seen this as reality for years.
It takes the news way too long to catch up.
Replace corporations with congress, or Supreme Court or….
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Financially Illiterate William Rice is having a hard time understanding how “For Profit” corporations work. Yeh, guess what, its FOR PROFIT, they will spend the money on themselves, derp.
Wow! And in other news, water flows.
Sun does shine at night
Never taken a business class, eh?
What are these ‘national needs’ that require you to steal from the stockholders?
Couldn’t tell 🙄
Another example of a writer who doesn’t understand how the tax code works and how corporate governance works.
1) Corporations don’t pay taxes. Any effort to make corporations pay higher taxes comes at the expense of consumers in the form of higher prices, the employees in the form of lower wages or in the stockholders in the form of lower dividends.
2) Corporations don’t get refunds. They are allowed to carry losses forward to offset profits in the future but Uncle Sam doesn’t write ABC Corp a check if they lose money.
3) Corporate C Suite and CEOs are highly valued members of the corporate team charged with the responsibility to A) manage 100s or thousands of employees (for instance Amazon has 1.5 million people) B) oversees $Billions in assets, liabilities and revenue, and C) sets the strategic path for the business. Good ones are hard to come by, have 30+ years of experience and are compensated accordingly.
4) Corporations have a fiduciary responsibility to the stockholder to maximize the value of the company NOT to address “National Needs” If the business is successful, national needs are met by the taxes the corporation pays in payroll taxes, property taxes, workers comp and unemployment taxes. employee benefits and in the payroll they contribute to their local community.
It’s always so frustrating to see these titles when most of Americans’ lived experiences have seen this as reality for years.
It takes the news way too long to catch up.
Replace corporations with congress, or Supreme Court or….
Bears do indeed shit in the woods.