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Political compass

Discussion in 'The Lounge' started by 086, Nov 14, 2019.

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  1. Hacky McAxe

    Hacky McAxe Super Moderator Staff Member Gilded

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    I'm always a bit hit and miss with this.

    I understand that these companies are doing dodgy stuff, but most of this "they don't pay tax" is usually a misinformation thing. It's similar to the complaints about churches not paying tax.

    You only pay tax on profits, not revenue. That means if your business makes $1 million but outs $1 million back in the business, then you pay no tax on that $1 million 'cause it's not a profit but a business expense. There is a reason for there being no tax on it. It's part of economic growth. Tax before it goes back into the company then the company operates at a loss which means the money going to the government doesn't go to the employees. It reduces growth and employment. A common misconception people have about the elite companies is that the stockholders, owners and CEOs are sleeping on huge piles of money. More often the money is reinvested.

    That said, there are companies who make profits in Australia then right the tax off through dodgy works.
     
  2. Hacky McAxe

    Hacky McAxe Super Moderator Staff Member Gilded

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    I should point out that I don't support full free market capitalism. Regulation is important. But it's important to understand it from and economics points of view.
     
  3. Squash the Berries!

    Squash the Berries! Kennel Regular

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    In the last few years the following have either closed or had major sackings.

    Normal, Amazon & On-Line shopping or something bigger on the horizon?

    Bardot, Ralan Group, Harris Scaffe, Curious Planet, JeansWest, Bose, Big W, David Jones, Baskin & Robbins, Topshop, Topman Australia, Oroton, Maggie T, Gap Australia, Esprit Australia, Avon Australia, Toys R Us, Roger David, Laura Ashley, Ed Harry, Dick Smith, Keystone Group, Masters Hardware, Pumpkim Patch, Max Brennar, Maggie T, Sumo Salad, Napoleon Perdis, Oroton, Network 10.

    There's a heap more but I didn't really know them.

    This, plus the bushfires & Corona Virus, I believe must lead to our first recession since 1990-91.

    Of course the old saying When China sneezes, the world catches a cold really applies to Australia.
     
  4. Squash the Berries!

    Squash the Berries! Kennel Regular

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    Fingers crossed but people power looks like it has stopped the $10,000 cash ban.
     
  5. Mr 95%

    Mr 95% Kennel Immortal Gilded

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    Pfft..more like Hacky the head of the companies receive bonuses which are taken out of the profits. Hence manipulating the bottom line, and in the end these companies don’t pay the rightful amount of tax they should. Now you may think the head of the companies will pay tax on these bonuses, thus makes up for the companies avoidance. However, it is more than likely they don’t as their accountants are experts at being creative in their tax returns. It’s dodgy work practices and should be under the microscope..because it’s not ‘reinvesting’ in the company..it’s about tax avoidance..bordering on tax evasion.
     
  6. Squash the Berries!

    Squash the Berries! Kennel Regular

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