Wal-Mart Cuts Taxes By Paying Rent to Itself

[Tetro Kornbluth]

Nice to know that big corporations like Walmart have enough money to hire the best corporate tax lawyers to spot these loopholes so that their leading shareholders can still rake in obscene amounts of cash... while those businesses which can't hire the best lawyers.. can not. 

[Tetro Kornbluth]

Nice to know that big corporations like Walmart have enough money to hire the best corporate tax lawyers to stop these loopholes so that their leading shareholders can still rake in obscene amounts of cash... while those businesses which can't hire the best lawyers.. can not. 

Don't be an idiot.  This is taught in any third-year tax course.  Any CA can tell you about it.

Well not being versed in US tax law (as I am not an American citizen) I wouldn't know this - my point was aimed at the simple fact that in any country with such a complex tax code the rich will always find ways to skive off paying - even though they are the ones who can afford it the most. A nice insight into the minds of most of the world's movers and shakers, no?

Nice to know that big corporations like Walmart have enough money to hire the best corporate tax lawyers to stop these loopholes so that their leading shareholders can still rake in obscene amounts of cash... while those businesses which can't hire the best lawyers.. can not. 

Now that this perfectly legal (I would presume) loophole has been publicized, what's to stop any business from exploiting it?  They might has well take advantage of it too while they still can.

Greed. And What Gabu says two posts below me.

[Tetro Kornbluth]

Nice to know that big corporations like Walmart have enough money to hire the best corporate tax lawyers to spot these loopholes so that their leading shareholders can still rake in obscene amounts of cash... while those businesses which can't hire the best lawyers.. can not. 

Well, if a smaller company wants to hire such "hotshot" lawyers maybe they should sell a better quality product, have better customer service and run a top notch outfit.

Or they could just move to their business to some sh**thole third world country with uber-cheap slaves labour so that they could sell their products at a much cheaper price in the west. (or, as we are talking about retail here, pay illegal immigrants sub-living standard wages and criminal hours.)

And don't give me the whole "Sweat shops are better than the alternative" argument - It's true of course, but that doesn't mean it's right either.

[Tetro Kornbluth]

If the US and Canada didn't have such high taxes, I would gladly pay it.  However, any company I do start will be utilizing a complex system of holding companies and trusts in different countries to exploit tax treaties and reduce taxes payable to nothing.

Yes, I am specializing in tax for my CA/CPA.

Ohhh... Noes... TAX! It never ceases to amaze me when conservatives talk about "liberty" they are really talking about "not paying Tax", or "Greed" in other words. I do think that most mainstream tax rates are rather high (or rather, that there is too much indirect taxation).. but no individual should be the judge of this.

Of course I hope any company you start will actually provide pension and health insurance to it's workers (Unlike Walmart).

Nice to know that big corporations like Walmart have enough money to hire the best corporate tax lawyers to stop these loopholes so that their leading shareholders can still rake in obscene amounts of cash... while those businesses which can't hire the best lawyers.. can not. 

Now that this perfectly legal (I would presume) loophole has been publicized, what's to stop any business from exploiting it?  They might has well take advantage of it too while they still can.

Greed. And What Gabu says two posts below me.

I would say "opportunity", actually.  And if the workers aren't happy about what the company does with the money, they could always leave and get a new job (provided the local unemployment rate is low, o/c, because then they can bitch about it)

I imagine most of these workers are too low-skilled to get any alternative job of worth, I mean, who would work at Walmart?

[Tetro Kornbluth]

It will be a service company, and the employees will be able to buy their own insurance or pensions.  The company will of course offer generous deferred pay through ... once again, some tax loop holes.

There is nothing wrong with greed.  I'm greedy in that *I* want to decide how to spend my money.  I'm fine with charity.  I'll most likely implement Ben and Jerry's decision that no exective will be paid more than 5 times that the lowest salary is at.  I do not, however, want the government to use MY money to fight unjust wars, pay fat slobs to sit at home and watch TV while eating cheetos, and do abortions.  Just to name a few.

Now I agree with the rest of your post except for the bit in bold (but knowing of people on the dole I think only roughly 1%-2% of those who actually "Sit at home and watch TV while eating cheetos", I'd more of those types are of the "Opebo Brand" - i.e: Spoiled rich kids who mooch off their affulent parents - nothing to do with Goverment)

But I've never got this whole Ayn Rand\Gordon Geeko "Greed is good" - Greed is what drives the unjust wars you seem so worried about, Greed is what drove many of the acts of pillage and violence throughout history, from the Huns to the Mongols to the British Empire, It was Greed for various resources which what drove it. Greed also drove the Slave Trade (But it's okay - there was no goverment intervention there and the Traders got to decide how to spend THEIR money, so it's all good.) and Greed is what still drives Sweat shops, inhuman treatment and barbarism. In short Greed is the opposite of anything that could possibly stand for "good" or "just" in a supposed "free" society like ourselves.

Unless you of course you subscribe to some social darwinist neathanderalism which was discredited a long time ago.

And good luck in your business.

[Tetro Kornbluth]

Lay off the Crackpipe, Opebo.

[Tetro Kornbluth]

That's a well-spotted loophole, even if I don't particularly understand it myself.

I don't understand it either, which is probably why the Waltons are rich while you and I are not.  Anyway more power to them.

I wonder what exactly they do with all that money....

"OMG!! WE ONLY HAVE 10BILLION DOLLARS, LET'S FIND SOME TAX LOOPHOLES!!!1!!1".