this post was submitted on 29 Apr 2024
1123 points (98.4% liked)
Political Memes
5511 readers
1002 users here now
Welcome to politcal memes!
These are our rules:
Be civil
Jokes are okay, but don’t intentionally harass or disturb any member of our community. Sexism, racism and bigotry are not allowed. Good faith argumentation only. No posts discouraging people to vote or shaming people for voting.
No misinformation
Don’t post any intentional misinformation. When asked by mods, provide sources for any claims you make.
Posts should be memes
Random pictures do not qualify as memes. Relevance to politics is required.
No bots, spam or self-promotion
Follow instance rules, ask for your bot to be allowed on this community.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
That is because the jets and yachts are company provided and the company writes it off as an operational expense. You know, as schools should be doing with school supplies teachers need to do their job.
Companies also don't require their employees to bring their own desk and chair... I know.. do t give them any ideas.. and probably some scumbag employers did this anyway.
This is separate from the fact if companies should be allowed to expense luxury items... Like yachts and jets..
In my opinion, companies shouldn't be allowed to expense anything. The entire concept is pointlessly complicated and only serves to favor businesses that can afford to hire teams of accountants. The law doesn't encourage any kind of value adding on the slightest, it's just a game to save money.
There are complicated parts of accounting, but basic expense tracking is simple and businesses would do it even if it didn't affect their tax treatment.
If businesses couldn't write off expenses, it would be nearly equivalent to treating the corporate income tax as a universal sales tax. This would be incredibly damaging to small businesses and benefit behemoth vertically integrated companies, which is probably the exact opposite of what you want.
If you get rid of expenses, you need to get rid of corporate income tax and either replace it with VAT or combine it with increases to personal income tax like taxing capital gains as ordinary income.
Mmmm that's a great point about vertical integration, I forgot about that.