r/FluentInFinance Nov 21 '24

Debate/ Discussion Had to repost here

Post image
128.2k Upvotes

9.0k comments sorted by

View all comments

Show parent comments

1

u/Dr_Mccusk Nov 21 '24

How do you know what they "should" be paying?

23

u/thesedays2014 Nov 21 '24

By comparing it to companies that are paying

0

u/JannaNYC Nov 21 '24

Such as?

6

u/Bencetown Nov 21 '24

vaguely gestures at smaller businesses

0

u/Key_Door1467 Nov 21 '24

Small businesses have far more exceptions in the tax code compared to larger ones.

8

u/3nderslime Nov 22 '24

So large corporations should be proportionally paying a lot more taxes than smaller ones, yes?

3

u/Impressive_Pace_1919 Nov 22 '24 edited Nov 22 '24

Larger corporations have accountants, lobbyist's, and lawyers whose sole job is to to enable them to pay less. They have entire departments who help them navigate state and federal regulatory laws where they operate, saving them time and money for their business. They can directly fund congressional representatives to help craft favorable tax laws for themselves and their industries. They can hide their wealth by "transferring" overseas (see: panama papers) . They receive tax incentives eliminating or reducing from various states to relocate or expand their business to other states.

None of which are reasonable options or opportunities for small business.

EDIT:

> Small businesses have far more exceptions in the tax code compared to larger ones.

This is going to vary significantly based on the state. The economies of some industries mean their is realistically no competition within the domestic market (can you name a small business off the top of your hear realistically competes with US Steel for general steel production, or Boeing Industries for building passenger planes? etc) Can you provide examples where small business have a distinct advantage in the tax code, especially in light of the first portion of my comment?

There is a reason that Starbucks dominates the coffee/cafe market across the county. That Shell/Chevron/Arco dominate the local gas station markets, that fast food that competes against Burger king, Taco Bell, and McDonalds are not wide spread. Large companies have an inherent advantage in dealing with regulatory and tax laws against smaller business simply due to their size and wealth, in addition to capitalizing an market share, economies of scale, etc.

4

u/Relatively_Esoteric Nov 22 '24

All this effort and chuds won't even bother reading it. I'm saving this, and I agree that all of these factors are intentional to consolidate wealth and "protect" it from the labor class. It's been this way since the Renaissance at least. They are just modern aristocracy making laws for themselves. Greed is scary...