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Drudge Retort: The Other Side of the News
Monday, December 04, 2023

Last month, Microsoft disclosed that the IRS had sent the company a bill for $28.9 billion in back taxes as part of an audit. The examination, which began more than a decade ago, is the largest in the agency's history, and it's far from over, as Microsoft has vowed to appeal the findings.

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Personally IMO, corporations should have their voice removed to influence politics. They are not people, because they can't be jailed, they don't die as long as they continue financially, and they can't make babies. Money is not speech. Lay a pile of money on the table and it says nothing by itself.

I also think corporations should have no influence in politics to get anything heard in their favor, unless they are headquartered in the US, pay taxes (not some long list of stuff saying they don't owe anything through deductions), and do not hold stances in favor of the public or public works benefits. If the CEO and the board members are making multiples of 100s ratios over their average workers wages, they should not be entitled to any deductions at all. Half of any moneys going to stock buybacks should be given to the lower paid workers in some manner, who made the products and services they sell.

CEOs and board members have used stock buybacks as justification for pay raises and benefits not available to the average worker. Stock prices now are just too high with distributions to stock holders too low to make investing in them worth the pay back. The result is investment houses for retirement plans have instead gone to buying real estate to own apartments and homes they can raise the rents on for their increased profits. Add to this a lot of investment companies have even went into medical, making medical procedures and medical equipment far too expensive as they raise prices to increase profits.

Once you gain all this money as profit, how you keep it is to dodge their taxes in some manner. Which is where Microsoft went. As long as there are countries willing to be tax shelters you will never get rid of corporations hiding their profits from the taxman unless you make some sort of penalty against it other than the laws on the books now. It has to be something that effects their operations to the point they want to voluntary pay their share rather than face the penalty.

#1 | Posted by BBQ at 2023-12-04 10:04 PM | Reply | Newsworthy 1

KPMG - Keep Pissing Money Goodbye

#2 | Posted by Lohocla at 2023-12-05 08:28 AM | Reply | Funny: 1

If the IRS billed them $29 Billion, you can bet they illegally saved $100 Billion in taxes.

These schemes are why the GOP wants to defund the IRS.

The less money the IRS has, the less it can spend to train agents to find these illegal schemes.

The GOP doesn't want the 1% with high paid accounting firms and lawyers to devise these schemes to pay taxes. They would rather the burden of paying for the government come out of the pockets of the poor and middle class.

#3 | Posted by Nixon at 2023-12-05 09:05 AM | Reply | Newsworthy 2

#1-Great post BBQ

#4 | Posted by Yodagirl at 2023-12-05 09:57 AM | Reply

#3 | Posted by Nixon

I am 10,000% in agreement with you. The IRS is unable to hire and retain the people needed to go after the megawealthy who drag everything out in court. It is GOP strategy. They want the people to go after the criminal tax avoiders - it isn't to go after the 99%. That is what the GOP sells it as though. Need some funding to put judges in to expedite the cases as well.

#5 | Posted by GalaxiePete at 2023-12-05 10:35 AM | Reply

KPMG - Keep Pissing Money Goodbye

#2 | POSTED BY LOHOCLA

Management consulting in a nutshell LOL

#6 | Posted by GOnoles92 at 2023-12-06 08:48 AM | Reply

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