In the youtube video "How Companies Like Amazon, Nike and FedEx Avoid Taxes" it explains how companies get away with not paying income tax. In the video they explain that tax breaks cost $180 billion each year and that the collective total of money that some of these companies should be paying each year is $8.5 billion. One of the ways these companies get around paying taxes is by chasing tax expenditures, which are ways to lower the amount of taxes you pay by investing and researching in new advancements and development. They also get around paying taxes through investing. When calculating taxes for the government it is calculated later rather than immediately when calculating for investors. Another way these…
For my third blog post, I'll talk about the video, How Not to Pay Taxes!, and the problems it raises regarding corporate tax evasion strategies. The video shows how big companies take advantage of legal loopholes to reduce or even completely avoid their tax obligations, which has serious ethical and economic ramifications. Companies defend these tactics as strategic financial management, but in the end, they put the tax burden on ordinary taxpayers and smaller enterprises.The use of subsidiaries and offshore tax havens by businesses to lower their taxable income is one of the main topics covered in the film. Businesses can legally avoid paying taxes in their home country, even if the majority of their revenue is earned there, by…
In the video, it was discussed that some of the most profitable companies in the world are able to avoid federal corporate income taxes due to the current United States tax code. This phenomenon sparked backlash and protest; people think that these companies not having to pay any federal corporate income taxes is unfair. Of course, though, whether unfair or not, nobody likes to pay taxes. The history of the "tax collector" is quite gruesome: there were tax collectors who were executed in which they were covered with tar and feathers, and, if that didn't kill the tax collector, then he/she would be hanged. Society today is fortunately not as immoral with tax collectors, but society is surely corrupt, as…
For my second TeachEcoknowmics Blog Comment, I watched the"How Not To Pay Taxes!" video.
I found this video very interesting because of the complexity of the loopholes used to legally avoid taxes. As genius as I find some of these tactics that were explained in this video, I also do agree that it is very unfair for to have 100s of billions of tax dollars slip out of the economy just so a corporation can maximize profits. These potential taxes could be used for various environment and social projects, along with larger grants towards smaller businesses, more education, and many other things that may help the economy boom.
This video went over 4 tools large companies use to avoid taxes:…
For my second TechEcoKnowmics Blog Post, I decided to watch and comment on CNBC's YouTube Video: How Companies Like Amazon, Nike, and FedEx Avoid Taxes. This topic has always interested me, as many often hear about large companies and corporations not paying taxes or committing tax fraud. However, not a lot of people understand the complexities behind the situation. This video excellently explains how the tax code allows various corporations and businesses to avoid paying the federal corporate tax. When the video mentioned the Whirlpool situation, I actually started laughing because the US tax codes allow such loopholes. I am interested to learn more about the court's decision regarding Whirlpool, as it did not give too much detail in this…
In the youtube video "How Companies Like Amazon, Nike and FedEx Avoid Taxes" it explains how companies get away with not paying income tax. In the video they explain that tax breaks cost $180 billion each year and that the collective total of money that some of these companies should be paying each year is $8.5 billion. One of the ways these companies get around paying taxes is by chasing tax expenditures, which are ways to lower the amount of taxes you pay by investing and researching in new advancements and development. They also get around paying taxes through investing. When calculating taxes for the government it is calculated later rather than immediately when calculating for investors. Another way these…
For my third blog post, I'll talk about the video, How Not to Pay Taxes!, and the problems it raises regarding corporate tax evasion strategies. The video shows how big companies take advantage of legal loopholes to reduce or even completely avoid their tax obligations, which has serious ethical and economic ramifications. Companies defend these tactics as strategic financial management, but in the end, they put the tax burden on ordinary taxpayers and smaller enterprises.The use of subsidiaries and offshore tax havens by businesses to lower their taxable income is one of the main topics covered in the film. Businesses can legally avoid paying taxes in their home country, even if the majority of their revenue is earned there, by…
In the video, it was discussed that some of the most profitable companies in the world are able to avoid federal corporate income taxes due to the current United States tax code. This phenomenon sparked backlash and protest; people think that these companies not having to pay any federal corporate income taxes is unfair. Of course, though, whether unfair or not, nobody likes to pay taxes. The history of the "tax collector" is quite gruesome: there were tax collectors who were executed in which they were covered with tar and feathers, and, if that didn't kill the tax collector, then he/she would be hanged. Society today is fortunately not as immoral with tax collectors, but society is surely corrupt, as…
For my second TeachEcoknowmics Blog Comment, I watched the"How Not To Pay Taxes!" video.
I found this video very interesting because of the complexity of the loopholes used to legally avoid taxes. As genius as I find some of these tactics that were explained in this video, I also do agree that it is very unfair for to have 100s of billions of tax dollars slip out of the economy just so a corporation can maximize profits. These potential taxes could be used for various environment and social projects, along with larger grants towards smaller businesses, more education, and many other things that may help the economy boom.
This video went over 4 tools large companies use to avoid taxes:…
For my second TechEcoKnowmics Blog Post, I decided to watch and comment on CNBC's YouTube Video: How Companies Like Amazon, Nike, and FedEx Avoid Taxes. This topic has always interested me, as many often hear about large companies and corporations not paying taxes or committing tax fraud. However, not a lot of people understand the complexities behind the situation. This video excellently explains how the tax code allows various corporations and businesses to avoid paying the federal corporate tax. When the video mentioned the Whirlpool situation, I actually started laughing because the US tax codes allow such loopholes. I am interested to learn more about the court's decision regarding Whirlpool, as it did not give too much detail in this…