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Originally Posted by Adam D If the IRS fully went after corporations for not paying taxes and for tax fraud, we could very easily cover the ass of Bush and have well funded social programs that would benefit everybody. |
Do you mean corporate taxes in particular? Eh, there are plenty of ways for companies to shirk taxes. Corporate social responsibility seems to be much more buzzworthy these days (tho it's growing passe as stakeholders are growing more active and the watchful eyes of regulatory bodies scrutinize more closely, Sarbanes-Oxley, yada yada). Legal ways still remain for you to fudge your balance sheet and still be okay with GAAP, like by investing in derivatives and options... Multinationals can also avoid paying taxes domestically via other forms of creative asset management... like making direct investments in foreign countries, increasing employee benefits and wages (which are tax-exempt), and most notoriously... dumping millions of dollars of useless inventory on 3rd world countries under the pretense that it's a donation.
Shit, we already bagged Leona Helmsley, what more do ya want?
