this post was submitted on 29 Feb 2024

586 points (98.7% liked)

News

21749 readers

3384 users here now

Welcome to the News community!

Rules:

1. Be civil

Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. Trolling is uncivil and is grounds for removal and/or a community ban.

2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.

Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.

3. No bots, spam or self-promotion.

Only approved bots, which follow the guidelines for bots set by the instance, are allowed.

4. Post titles should be the same as the article used as source.

Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.

5. Only recent news is allowed.

Posts must be news from the most recent 30 days.

6. All posts must be news articles.

No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.

7. No duplicate posts.

If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.

8. Misinformation is prohibited.

Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.

9. No link shorteners.

The auto mod will contact you if a link shortener is detected, please delete your post if they are right.

10. Don't copy entire article in your post body

For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 1 year ago

MODERATORS

586

Trump gave top US firms staggering tax cuts, with some paying $0 or less – report (www.theguardian.com)

submitted 4 months ago by MicroWave to c/news

49 comments fedilink hide all child comments

Among lowest taxpayers were companies whose CEOs have become high-profile advocates for corporate social responsibility

Some of the US’s most profitable corporations, including General Motors, Citigroup and Netflix, have slashed their tax bills in the years since the passage of the Trump tax cuts, with nearly a quarter paying rates in the single digits and 23 paying nothing, a report has found.

The 2017 law cut the top corporate income tax rate from 35% to 21%. But the new assessment of corporate tax avoidance, published on Thursday by the non-profit Institute on Taxation and Economic Policy (Itep), found that during the first five years the law was in effect, many profitable public companies in the US paid a far lower rate in practice.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 70 points 4 months ago (9 children)

In 2020, Marc Benioff, the co-founder and CEO of Salesforce, declared to the New York Times that “it’s time for a new kind of capitalism: stakeholder capitalism, which recognizes that our companies have a responsibility to all our stakeholders”.

And how is our current system not already an extreme version of this???

[–] forty2 42 points 4 months ago* (last edited 4 months ago) (5 children)

Shareholders aren't the same as stakeholders. Shareholders are always stakeholders, but stakeholders aren't always share holders.

Stakeholders are people with any kind of interest in the company doing well, this includes people like employees, suppliers, and customers. Basically anyone that benefits from a business doing well.

I feel like he might be arguing for the kind of change that the current "anything to keep the stock price going up so the shareholders stay happy" model desperately needs.

Probably a bunch of lipservice to keep shareholders happy by addressing risk that they all foresee....namely the shifting temperament towards large corporations by the people who's value is being stolen for shareholders gains.

[–] dezmd 11 points 4 months ago (1 children)

Soundbites over substance is the name of the corporate PR game.

[–] forty2 8 points 4 months ago

It's so nuts...

Speaking to shareholders, about 'shifting' the model, in an open and public medium.

He's literally talking to people who want their money to grow, about changing how the money grows....if you read between the lines it's basically

"Hey we know this is a growing concern, here in the c-suite we see it coming too. Rest assured, we're going to pander to public sentiment so our shareholder profits remain intact. Our hope is that in doing so we attract more talent to exploit thereby maintaining that upward trajectory we all know and love.

Remember 'unlimited PTO'? Yeah, we'll give these guys the same treatment."

But because these statements are public as are the financials etc, they won't just outright say it. I'll bet you quarterly and annual filings have the same type of stuff in the section disclosing current and foreseeable risks.

load more comments (3 replies)

load more comments (6 replies)