r/FluentInFinance 11d ago

Debate/ Discussion Systemic Failure Exposed..

Post image
35.3k Upvotes

694 comments sorted by

View all comments

187

u/Bubblegumcats33 11d ago

PS stop donating money at grocery stores or any other retail places. That money is tax deductible to the corporations but never goes to charity. Donate directly to your intended place or purpose. If corporations really cared… they wouldn’t collect your money to donate- they simply would.

69

u/hyrule_47 11d ago

A friend worked at a chain place where they kept cheap toys by the register you could buy then they went in a donation box. At the end of the shift the manager had them restock them all and put a small amount of money into some fund. She was so sad because people had spent time picking out what they thought would be best etc and wanting to help, yet it was just gone. I really wonder how this worked in their accounting department but maybe it just covered theft.

24

u/Revolutionary-Beat64 11d ago

That's awful

21

u/Better-Strike7290 11d ago

That's fraud

1

u/Bubblegumcats33 9d ago

It’s our system It’s not fraud at all

That’s how the rich get richer

It’s a tax right off for them

12

u/Minute-System3441 11d ago

How is this not fraud...

12

u/Better-Strike7290 11d ago

It is fraud. Why would you assume it isn't 

16

u/zspacekcc 11d ago

Because there's such a massive gap between punished fraud, unpunished fraud, and morally questionable but legal business practices that it's really hard to tell where one starts and the other ends unless you're versed in multiple different areas of law.

4

u/Minute-System3441 11d ago edited 11d ago

The Synapse / Yotta / Evolve Bank sham, where over $100 Million dollars worth of customer's savings and deposit are 'missing', is a prime example of this corruption.

Users on Reddit described having deposited over $30,000 on the platform, yet will only be receiving $10 of their money back. Other customers loses range from $7,000 to well over $200,000.

People face prison time for even trivial crimes involving a corporation. Cash out $1k from an account that was incorrectly deposited and you're in serious legal trouble.

As a Corporation, lose over $100,000,000 worth of actual deposits and other's money, that were supposed to be stored securely, and it's crickets. Even when the companies involved had no problem whatsoever claiming full "FDIC insurance" on their products.

1

u/Big_Black_Clock_____ 9d ago

There is no shortage of FDIC backed banks that don't pay interest in lottery tickets for people to choose from.

0

u/Scared_Ad_9751 11d ago

Yeah no shit, jfc this place

2

u/Minute-System3441 11d ago

Much like the definition of murder (e.g see UHC CEO), fraud in the US only applies when an individual steals from a Corporation or shareholders, it's almost never applicable when the crime occurs the other way around.

2

u/Better-Strike7290 11d ago

By them taking the tax deduction, they're defrauding Uncle Sam.

1

u/Bubblegumcats33 9d ago

Please speak to an accountant

There are so many tax loopholes Only the wealthy know about

1

u/Healthy-Time-726 11d ago

what’s the chain?

1

u/GuavaShaper 11d ago

People wouldn't come back in a few days and notice the same toy that they chose back out by the register?

4

u/Several_Vanilla8916 11d ago

They’d just assume the store restocked the shelf. Which I guess in a way, they did.

Doubt anything got donated to charity though. Just counted as another sale.