Companies avoid paying taxes but we do it for them
There is a festering cancer of such immense proportions, and no one is paying attention to it. The damage its causing is unfathomable. Any explanation and examples of this enormity will not even do the problem justice.
Most people don’t realize how companies and government are using the public to stockpile their personal and commercial wealth. These people rely on the public to pay taxes to maintain the lifestyle, greed and everything they want in life. This problem is so overwhelming and devastating it trickles into the woodwork. You, the public are not meant to see it.
You will find more statistics at Statista
Some people say “money isn’t everything”; however, there are others who believe Money Is The Only Thing
EU banks have locations on every continent, and they are very active. Andorra, the Bahamas, Liechtenstein, Hong Kong, Panama, and Switzerland are only a few of many countries assisting in tax fraud, evasion, money laundering, money shading and money sheltering. The EU and its banks keep these confidences hidden within deep state and government societies.
EU banks exist for many reasons, some of which I won’t go into here. One of the main services provides tax-free accounts for big companies and their important owners, directors, managers, shareholders, and executives. Accounts are secure, protected and secret. In addition to the hidden accounts, transactions, transfers and a whole list of other frauds remain privileged information only.
More than ten fortune 500 companies
Only ten of many fortune 500 companies have come to light revealing overseas funds. Accumulated profits worth trillions of dollars, if not more lie within these funds. Each dollar from these overseas stashes has been and will remain untaxable. Although Trump is trying to offer an incentive to companies to bring the money back into the US economy by offering a one-time tax relief, tax revenue alone remains too good to move any funds.
If the funds arrive on US soil, the money won’t go towards any taxes. Rather all of it would get funneled into dividends for stockholders, Senate members, House of Representative members, members of Congress and the like. Dividends are also tax-free, at least for this group they are.
The tax laws are built for big companies and government to avoid income restrictions while the taxpaying public must cover everyone’s dues. Repatriation benefits don’t change incentives. It remains a loophole for companies to maneuver stashes of decadent assets robbing the public of their hard-earned dollars. Meanwhile, the government and the companies they purchase goods and services from, cheat them at every silent malicious turn.
Our first example is Apple
With every purchase of an Apple product, you fund Apples overseas profits to avoid the IRS. The US government aids and abets the corporation with this tactic. By adhering to Byzantine tax laws or any number of tax evasion techniques, the government enables not only Apple but many other corporations in tax evasion. Nevertheless, the government can choose who they will audit and who they won’t.
Another added benefit of being a corporation is the ability to assign an “official employee” to manage assets. Braeburn Capital Inc. is one of the official asset management companies for Apple. But categorically they are Apple. Braeburn is a name used to cloak the allocation of assets towards overseas accounts and avoidance of taxes. In this way, Apple can accumulate an infinite income that remains tax-free.
Foundations and foreign subsidiaries are tools used for aggressive accounting
This aggressive accounting limits monetary liabilities. Microsoft uses it the same as Apple. In fact, more than 50% of their earnings come from overseas purchases, business transactions and more. The overseas proceedings stay on foreign soil to keep all profits from being noticed or accounted.
Accounting is adjusted according to how the CEOs decide to allocate unreported income. More often than not shareholder rewards and executive bonuses receive the bulk of accumulated profits.
Microsoft and Apple can turn fund dividends into debt thus reducing their taxes. This is one-way lawful loopholes make it possible for companies to keep stockpiling cash in unreachable and undetectable places.
Alphabet/Google has a stash of over $87 Billion overseas alone. According to media sources, the company most likely will spend their money on more acquisitions such as cloud companies. Again, these are more subsidiaries of the same company. All opportunities in the enterprise are considered revenue for future expansion and equity. Alphabet is desperately trying to bypass Amazon. The appetite for acquisition, power, and more money keeps growing.
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