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California retailers complain that they are victims of unfair competition from Amazon, Overstock.com — now calling itself O.co — and other Internet sellers that don't operate physical stores or warehouses in the state.
As a result Amazon can undercut their prices by not collecting the state's 7.25% sales tax and additional local government levies. With its razor-thin profit margins, Amazon relies on the no-tax allure to customers for much of its sales.
Wal-Mart Stores Inc. and its allies in the Alliance for Main Street Fairness, a group that includes big-box stores and independent businesses, still face a major challenge in getting their legislative maneuver to work.....
For decades, the U.S. tax code has encouraged companies like Halliburton to transfer the location of its subsidiaries from the United States to foreign countries. This is one reason why only thirty-six of Halliburton's 143 subsidiaries are incorporated in the United States and 107 subsidiaries (or 75 percent) are incorporated in 30 different countries.
There are two methods by which Halliburton lowers its tax liability on foreign income: (1) By establishing a "controlled foreign corporation" and (2) By establishing a subsidiary inside a low tax, or no tax, country known as a "tax haven."
Halliburton, the second biggest oilfield service company in the world, on Thursday said work in Iraq had boosted revenue as it swung from a loss to record second-quarter net income of $26m , or 6 cents a share, compared with the year-earlier period.
The Houston-based company credited the quarter's 11 per cent rise in revenue, to $3.6bn largely to increased activity in its Engineering and Construction Group (ECG) projects, including government services work in the Middle East.
We need to realize that while a government is expected to be efficient and cost-minded, it is not a business. It's goal is to not make a profit.
Originally posted by CynicalDrivel
At least when a small group does something stupid, it only affects a small group. When our government does something stupid, we're lucky if it only affects our 314+ mil, and not much further.
Originally posted by sheepslayer247
reply to post by ANOK
By the way, capitalism is a great economic theory, but what we have is not capitalism. We are fascist now and the corporations run everything.
Originally posted by neo96
The problem is people are consuming more tax revenue than they are paying in at the request of socialists not capitalists.
Idiotic government is right because if it was a business they would have gone out of business a hell of a long time ago.
Originally posted by CynicalDrivel
reply to post by ANOK
Simplest rule of thumb: stupid is what stupid does. When it only benefits a handful of people, in an environment that is supposed to be for all, then the move was definitely worth a sign.