ThirdConsul comments on hmm

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[–] ThirdConsul@lemmy.zip -2 points 8 months ago (3 children)

So, instead you might want to say that someone only gets taxed after reasonable living expenses are deducted… and that’s how things work.

Things already work like that

Dude. What the fuck are you on?

Walmart revenue was $681 billion Walmart taxes were $6.8 billion.

Reinvestment doesn't matter in this comparison. If it did, I could reinvest some money into something that would lower my taxable amount. That's what the meme is about.

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[–] jj4211@lemmy.world 2 points 8 months ago (1 child)

There got to be better examples than that. Walmart manages about 4% margin, so 653 billion went toward procuring the stuff for sale. That figure suggests a tax rate of 25%, which is low at that magnitude but not as dramatically low as other companies pull off.

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[–] Donkter@lemmy.world 2 points 8 months ago

And lots of Walmarts "expenses" that they take out of their profit go into property rental and acquisition, I would venture to say it's one of if not the largest percentage of their expenses, much like my apartment is.

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[–] xor@lemmy.blahaj.zone 2 points 8 months ago

Dude. What the fuck are you on?

You can invest money into things that lower your taxable amount, for example charitable donations, investing in your pension and improving your home energy efficiency. That's exactly what tax credits and itemised tax deductions are.

https://www.irs.gov/credits-and-deductions-for-individuals

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